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Latest Updates

Lloyds Posits Cost of Next Large Coronal Mass Ejection at $2.6 Trillion

Jul 15

Written by:
7/15/2013 7:55 AM  RssIcon

NASA's illustration depicting space weather's effects on human eectrical systemsAs our culture becomes ever more dependent on electricity, the current distribution system has a huge vulnerability – induced current from external electrical flux.

One source of such an Electro Magnetic Pulse (EMP) would be a nuclear bomb (or a dedicated gamma ray bomb that North Korea can already produce), but a much more significant and wide-spread effect would result from a large coronal mass ejection.

NASA’s illustration on the right highlights a number of vulnerable systems:

  • Satellites and GPS devices
  • Oil pipelines
  • Aircraft communication
  • Power grid
  • Water supply
  • International space station

 

Where damage from Hurricane Sandy was about $68 billion, Lloyds now estimates a modern “Carrington Event,” could cause up to $2.6 trillion.

Full Story: www.washingtonpost.com/blogs/wonkblog/wp/2013/07/13/when-space-weather-attacks

Lloyd’s report: www.washingtonpost.com/blogs/wonkblog/files/2013/07/Solar-risk-in-North-America.pdf

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