Sandy cost the US $50bn, could have been averted for $15bn

Prevention is better than cure.

The FT's Jason Abbruzzese has posted the Moody's Analytics estimates of the economic damage of Hurricane Sandy. The firm puts the cost of lost output at $19.9bn, and the damages at a further $30bn:

Abbruzzese writes:

If the $50bn total turns out to be accurate, it will make Hurricane Sandy the fourth costliest US disaster behind Hurricane Katrina, the attacks of September 11, and Hurricane Andrew.

Putting a dollar amount on a disaster which has claimed nearly 100 lives in the US, and almost as many in the other countries throughout North America which have been hit, may seem distasteful, especially since the death toll is likely to continue rising. But that figure helps put in context stories like this, by Matthew Yglesias:

A 2009 seminar hosted at the Polytechnic Institute of New York University considered several options for major infrastructure upgrades to combat storm surges—a barrier at the south end of the Arthur Kill that divides Staten Island from New Jersey, an East River barrier to prevent surges up that narrow waterway, a barrier perpendicular to the Verrazano Narrows Bridge between Staten Island and Brooklyn, and most ambitiously a “Gateway Barrier System” stretching from Sandy Hook to the Rockaways. Engineers don’t believe it would be feasible for the Gateway system to entirely block storm surges, but it could weaken and deflect them—significantly reducing the flood risks to the entire New York Harbor…

It would, of course, be expensive. The estimates presented at the seminar suggest a ballpark figure of $15 billion. But even if that turns out to be a substantial underestimate, it’s a bargain compared to the cost of widespread flooding.

Compared to $50bn, that $15bn looks increasingly tempting.

Cars float in a flooded garage. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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To stop Jeremy Corbyn, I am giving my second preference to Andy Burnham

The big question is whether Andy Burnham or Yvette Cooper will face Jeremy in the final round of this election.

Voting is now underway in the Labour leadership election. There can be no doubt that Jeremy Corbyn is the frontrunner, but the race isn't over yet.

I know from conversations across the country that many voters still haven't made up their mind.

Some are drawn to Jeremy's promises of a new Jerusalem and endless spending, but worried that these endless promises, with no credibility, will only serve to lose us the next general election.

Others are certain that a Jeremy victory is really a win for Cameron and Osborne, but don't know who is the best alternative to vote for.

I am supporting Liz Kendall and will give her my first preference. But polling data is brutally clear: the big question is whether Andy Burnham or Yvette Cooper will face Jeremy in the final round of this election.

Andy can win. He can draw together support from across the party, motivated by his history of loyalty to the Labour movement, his passionate appeal for unity in fighting the Tories, and the findings of every poll of the general public in this campaign that he is best placed candidate to win the next general election.

Yvette, in contrast, would lose to Jeremy Corbyn and lose heavily. Evidence from data collected by all the campaigns – except (apparently) Yvette's own – shows this. All publicly available polling shows the same. If Andy drops out of the race, a large part of the broad coalition he attracts will vote for Jeremy. If Yvette is knocked out, her support firmly swings behind Andy.

We will all have our views about the different candidates, but the real choice for our country is between a Labour government and the ongoing rightwing agenda of the Tories.

I am in politics to make a real difference to the lives of my constituents. We are all in the Labour movement to get behind the beliefs that unite all in our party.

In the crucial choice we are making right now, I have no doubt that a vote for Jeremy would be the wrong choice – throwing away the next election, and with it hope for the next decade.

A vote for Yvette gets the same result – her defeat by Jeremy, and Jeremy's defeat to Cameron and Osborne.

In the crucial choice between Yvette and Andy, Andy will get my second preference so we can have the best hope of keeping the fight for our party alive, and the best hope for the future of our country too.

Tom Blenkinsop is the Labour MP for Middlesbrough South and East Cleveland