OH NO! The Money Is Melting! Can Texas Face Losses Due To Extreme Heat?
There's one thing that we all know in Texas, and it is this, the heat in this state can drive us crazy. We all dread the summer months in the state, which leaves us overheating and sweating way too dang much. So with the constant sun rays bearing down upon us, things change here in Texas.
AC is cranked up, people mostly try to stay inside all day, and the urge to want cooler temps goes through the proverbial roof. But, of course there are other things that are affected by the sun. The things around us in the business sphere are also taking hits due to the heat.
Business in Texas is might be feeling the effects a little more than some might expect. Thanks to the heatwave, revenue in the state is poised to go down.
So How Much Does Texas Stand To Potentially Lose Money-Wise?
According to the San Antonio Current, M. Ray Perryman, an economist from Waco revealed the staggering data. His research showed that the most affected area in the state was not the Texas Power Grid in terms of money, but rather the agriculture/financial part of the state.
The Current revealed that as the heat continues uptick, the Lone Star State could lose $3.91 billion dollars due to the rising burn. The reason is two-fold, not only are crops hurt by the heat, there's also insurance claims filed over the previously mentioned crop issues.
What's potentially more worrying is that if trends continue, Texas could be looking higher losses or revenue. $400 billon to be exact. For Perryman's full data, click here.