By Lord Julian Hunt and Professor Johnny Chan.(*) - The devastation wrought by super-storm Sandy (253 deaths in the Americas and over 50 billion dollars in economic damage and disruption), is prompting renewed thinking about climate change and national security.
Gasoline rationing in New York City which was scheduled to end on Monday has been extended through Friday, even as the gas station lines that prompted it have all but disappeared.
New York Mayor Michael Bloomberg endorsed President Barack Obama for a second term, citing the importance of his record on climate change, particularly in the aftermath of the devastating blow dealt to the New York area by storm Sandy.
The US stock market slowly returned to life on Wednesday after two days in the dark, in the wake of the massive storm Sandy that caused the market's first weather-related two-day closure since the late 19th century.
Businesses on the US East Coast have continued to be disrupted by storm Sandy, with total damage estimated at between 10bn and 20bn dollars. Sandy has flooded subway and road tunnels in much of Lower Manhattan.
Stock markets, shuttered for two days by Hurricane Sandy’s punch ashore, plan to reopen Wednesday. The New York Stock Exchange’s parent company, NYSE Euronext, said trading would commence as usual with a 9:30 a.m. opening bell.
Thousands of New York Metropolitan Transportation Authority workers began on Tuesday to fan out through the system to inspect and begin repair of the damage caused by Hurricane Sandy, a massively destructive storm of historic proportions.