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.

Photo: Getty Images
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Telegraph fires environmental journalist Geoffrey Lean

Some have suggested the move is due to the newspapers' scepticism about man-made climate change. 

Geoffrey Lean, the respected enviromental commentator and reporter, has been "pushed out" of the Telegraph, according to the writer. Lean, who pioneered the role of environmental correspondent almost forty years, joined the Telegraph in 2009 after 16 years at the Independent. "Telegraph is pushing me out," Lean tweeted a few days ago. The Telegraph's International Business Editor, Ambrose Evans-Pritchard, tweeted "Departure of climate veteran @GeoffreyLean v sad for Telegraph colleagues. Conservative newspaper has lost a tireless voice for conservation". 

The loss of the respected Lean, some believe, is due to his longstanding support for the idea that climate change is manmade. 

I'm a mole, innit.