Albany [New York], January 25: As raging wildfires continue to torment Southern California, estimates of the total economic loss have ballooned to more than 250 billion U.S. dollars, making it one of the most costly natural disasters in U.S. history.
"Early estimates by AccuWeather and JP Morgan put the damage in the 50 billion dollars range, but the expected toll quickly rose to more than triple that amount as fires spread through neighborhoods in Altadena, Pacific Palisades and Malibu," reported the Los Angeles Times on Friday.
In the last two days, hundreds of weary firefighters have battled multiple fires in the hills around Los Angeles and Ventura counties, including a massive blaze near Castaic, an early morning fire in the Sepulveda Pass that threatened the tony communities of Brentwood and Bel-Air, and another that pushed into Ventura County farmland Thursday morning.
The latest estimate from weather forecasting service AccuWeather puts the total expected damage and economic loss to between 250 billion dollars and 275 billion dollars. That includes the costs of damage, loss of life, healthcare, business disruptions and other economic impacts.
Source: Xinhua News Agency
