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Thu May 30, 2013
Environmental Group Says Taxpayers Foot Soaring Hurricane Costs
Hurricane season starts Saturday. And while experts can only predict how many will hit, one group says the clean-up bill will most certainly be high.
The Natural Resources Defense Council says taxpayers can expect to pay more for fixing damage that’s caused this year.
NRDC spokesman Bob Deans explains.
“Right now American taxpayers are on the hook for about $1.3 trillion dollars in potential flood damage nationwide, which is double where we were just a decade ago.”
He says private insurance companies are pulling out of areas susceptible to flooding. And public money is filling the void.
The National Oceanic and Atmospheric Administration says there’s a 70 percent chance of three to six major hurricanes this season.
The NRDC says warmer ocean water is the main problem — and climate change is to blame.
The group is calling on the Obama administration to cut carbon emissions, starting with power plants.