Brazil and Florida, two of the world’s largest orange producers, are facing a supply crisis — and it is seriously juicing prices. Disease and Disasters The orange juice market is, well, concentrated. Roughly 80% of orange juice worldwide comes from Brazil, with the bulk of the remaining portion originating in Florida. Supply woes in both…Read more
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Gold prices have been rallying, and earlier this month, the precious metal hit a record high of roughly $2,440 per ounce. Prices have come down since then, but the metals rally might not be over yet. High Demand Gold is a so-called safe haven investment that often sees higher demand during times of trouble, be…Read more
The Damage Function In the 1990s, Nobel Prize-winning economist William Nordhaus calculated that a 3°C rise in temperatures would lower global GDP by more than 2%. But new research suggests much more dramatic numbers. Testing Temperature A mere 1°C additional rise in temperature could already amount to as much as a 12% loss in global…Read more