As a consequence of Sandy’s disaster, flood protection of New York City seems to be an important part of the dialog towards the city elections next year.
Christine Quinn, New York City Council Speaker outlined a $20 billion flood protection program: “Well, the time for casual debate is over. It's now crystal clear that we need to build protective structures. This will include both hard infrastructure, like sea walls, bulkheads or flood gates, and natural defenses, like sand dunes, wetlands and embankments."
Political talk or actual plans? Remains to be seen…, the cost of Hurricane Sandy is estimated to be $60 billion dollars, $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm, as discussed in a TIME article, potentially subtracting around 0.6% from U.S. economic growth in the October-December quarter.
If you want more information read the whole Time article & the Wall Street article- see links below!
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