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July 29, 2021 | Climate Challenges for the Economy Much Larger than COVID

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Some have the fantasy that consumer spending and corporate profits are constrained only by the rate of credit growth…COVID is like a taster plate for the natural world challenges now unfolding for humanity and our economic system. Solutions come in accepting the behavioural changes needed, without further delay.  Water is the most valuable asset everywhere and must be treated as such.  See “Climate change has become real:” extreme weather sinks prime US tourism site:

While climate change has exacerbated wildfires, heatwaves and flash floods this summer, it is also taking a heavy toll on the tourism industry that’s dependent on Lake Powell. Last week the water line reached a historic low of 3,554ft, a level that has not been seen since 1969, when the reservoir was first filled. The giant reservoir is currently three-quarters empty and will keep dropping at least through next spring due to record low snowpack levels in the Colorado River basin…

“We sent out plenty of advisories to stakeholders about the possibility of very low lake levels this year and no one took it seriously,” said Billy Shott, superintendent of the Glen Canyon National Recreation Area, which manages Lake Powell. He compares the park’s regular drought notices to routine avalanche alerts in the mountains. “Well, now the avalanche has actually happened. Climate change has become real at Lake Powell.”

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July 29th, 2021

Posted In: Juggling Dynamite

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