Heat wave hits US economy as businesses and consumers try to adapt
ClimateDepot.com publisher Marc Morano argues mainstream media is skewing temperature data to make it an issue on climate change on ‘Varney & Co.’
Hundreds of millions of Americans have dealt with high temperatures and heat warnings over the past week, and the heat wave is also taking a toll on the U.S. economy as businesses and consumers try to adapt.
Over 152 million Americans live in areas that were under some sort of heat alert, ranging from Heat Advisories to Excessive Heat Warnings, as of Thursday. The heat alerts stretched from the Northeast near Boston and New York, inland through the Washington, D.C., area, and south to North Carolina; in addition to covering broad swaths of the Midwest and South stretching from Ohio to North Dakota and Dallas to Birmingham, respectively.
As the sweltering heat lingers over much of the country, it saps some of the U.S. economy’s productive capacity as workers and consumers alike seek cooler environments.
«Heat stress is becoming more costly than ever before,» Chris Lafakis, a climate economist for Moody’s Analytics, told FOX Business. «Last June was the warmest June on record, and July is on track to be the warmest month on record, according to NASA. Heatwaves have been especially intense in Southern Europe, but their economic cost spans the entire Northern Hemisphere. Heatwaves can cause mortality, close down businesses, and drive away tourists. Heatwaves can also stress regional power grids, driving up the cost and availability of space cooling.»
DEADLY SUMMER SCORCHER RAGES ON AS MILLIONS TRY TO BEAT THE HEAT FROM CALIFORNIA TO THE NORTHEAST
Arizona has experienced a record-setting heat wave, with Phoenix going over three weeks with highs above 100 degrees. (Mario
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