>> Florida’s commercial fishing industry will see a diminishing catch as acidification and overfishing attack the ocean ecosystem from both the top and bottom. The carbonic acid, produced as CO2 is absorbed by seawater, eats away at coral reefs on which about a quarter of all sea life depends. Acidity also weakens the shells and exoskeletons of sea creatures at the bottom of the food chain, threatening their survival. Over-fishing by industrial scale trawlers will thin out the fish populations at the top of the food chain, elevating the risk of an ecosystem collapse. New York Times: What’s worse than an oil spill? (Mark Bittman), 19April2011 University of Miami Rosenstiel School of Marine & Atmospheric Science: Ocean acidification will likely reduce diversity, resiliency of coral reef ecosystems. 29May2011 >> Decline in reinsurance costs will lead to stock buybacks and special dividends by insurance companies, as well as more mergers and acquisitions -- but not to lower bills for Florida customers. Premiums will fall 5 to 10 percent for insurers because of relatively modest losses around the world. Major hurricanes bypassed the U.S. in 2010 and catastrophic earthquakes occurred in places where there was relatively little insurance coverage. The most costly event of the year, BP’s $20 billion+ oil spill in the Gulf of Mexico, was largely covered by the company itself. One factor that will keep reinsurance costs slipping lower are the changes in industry models that project higher losses from hurricanes in the inland areas of Florida and Texas. -- Financial Times: Reinsurance costs set to decline (Paul J. Davies), 30Dec2010 >> Trade embargo will hamper U.S. in protecting Florida’s shores from oil spills in Cuban waters. Half a dozen foreign oil companies signed deals to drill for oil in Cuban water, some sites as close as 50 miles from the U.S. A well blowout could send oil spewing onto nearby Florida beaches in as little as three days. Cuba lacks the technology and knowledge that would be needed to contain a big spill and the 48-year old trade embargo could slow speedy assistance by U.S. companies. -- New York Times: Half a dozen foreign companies will drill for oil in Cuban waters (Andrew E. Kramer), 15Nov2010 |
Environment and Climate
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