El Nino’s Economic Effects

This short video does a decent job of reviewing some of the economic fallout from El Nino.  Via Bob Wenzel.

Warm weather in some regions means less money is spent on fuel needed to warm homes.  Heavy rains in areas like drought-ridden California means relief to farmers and home owners besieged by government regulators on that state’s liquid resources.

Here is an illustration of normal weather patterns over the Pacific Ocean compared to the El Nino affect, via Wenzel, who explains that:

. . . the developing El Nino could be record breaking.

The El Nino in the Pacific Ocean is building strength unabated, with sea surface temperatures exceeding the 1997 record, indicating the weather pattern will continue into next year, reports Bloomberg,

All key El Nino ocean-monitoring areas have had temperatures more than 1 degree Celsius above average for 10 weeks, Australia’s Bureau of Meteorology said Tuesday in an update on its website.That’s two weeks longer than the record in 1997, it said.

“El Nino is likely to strengthen, and is expected to persist into early 2016,” the weather bureau said.

El Nino has a 90 percent chance of lasting into next year and there is now an 80 percent chance it may persist into the Northern Hemisphere’s spring, the U.S. Climate Prediction Center said this month. The El Nino of 1997-98 was the strongest on record, according to data collated by the National Oceanic and Atmospheric Administration.

This could mean near daily torrential rain for the California coast line, during parts of the 2015-16 winter.

Severe crop damage is also likely through out the world, especially for corn, cocoa and cotton.

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