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
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
