2011 Flood
Gene Rench of the National Weather Service called the flooding Mississippi River a 500-year event. Army Corps spokesman Bob Anderson said, "There's never been a flood of this magnitude on the upper Mississippi." Heavy snowmelts, three large rainstorms, including April's tornadoes, triggered flooding from the Ohio River, as well.
Total economic damage could reach several billion. Why? The Mississippi River runs past farmlands and cities in six states. The flood's greatest damage could come on May 23 when it empties in New Orleans, still recovering from Hurricane Katrina. Here's a rundown of damage so far.
- River barge traffic, transporting billions in crops, are delayed. Riverboat casinos are closed for 6-8 weeks ($14 million).
- Farmland crop damage could total $2 billion (Fortunately, farmers usually have crop insurance.)
- Missouri - 130,000 acres, 100 homes and 300 people were flooded, costing $300 million.
- Kentucky - More than $5 million in damage. FEMA officials are still estimating.
- Memphis TN - Levees protected the downtown, although 1,300 homes in outlying areas were flooded.
- Arkansas - Flooding could destroy what's left of the $200 billion catfish industry.
- Mississippi - Damage could total $800 million.
- Louisiana - 25,000 people were flooded when levees were opened to protect New Orleans. Why? If the Mississippi River flooded the city, it would hit harder than Hurricane Katrina. The flood would have also threatened 10 Louisiana refineries, representing 14% of U.S. operating capacity. (Sources: USA Today,CNN Money)
Despite being a 500-year flood, it apparently won't have the impact on the global economy of Japan's earthquake and tsunami ($300 billion in damages) or Hurricane Katrina ($125-200 billion in damages).
1993 Flood
The 1993 Mississippi was the costliest U.S. flood of the 20th century. It created $20 billion in economic losses. The NOAA reported that more than 20 million acres in nine states were flooded. Approximately 54,000 people were evacuated, while 50,000 homes were destroyed or damaged. The flood swamped 75 towns, some of which were never rebuilt.However, the 1993 flood had only a minimal effect on GDP, unemployment and business growth. A study by Yu Xiao of the University of Illinois found that, “Two years after the event, there were no discernable aggregate effects on these economic indicators at the regional, state and county levels.” And amid all the mud, muck and destruction, there were even a few silver linings.
1927 Flood
The 1927 flood was the most disastrous in US history. More than 600,000 people were displaced, while 500 died, from floods that covered 1 million acres with 30 feet of water. It changed how the U.S. government managed the Mississippi, resulting in a comprehensive levee system that protects the worst effects. Almost 300,000 African Americans were forced to live in refugee camps for months. This triggered a mass migration of African Americans to northern cities.Economic Impact of Mississippi River Floods
Fear of flooding oil refineries spike gas prices to $3.98 a gallon last week. That fear has subsided with the opening of the spillways, and gas prices dropped back to $3.96 a gallon.
Much of the cost of flooding costs taxpayers, not private insurers, who won't insure against flooding without government guarantees. By 2011, the National Flood Insurance Program was already$18 billion in debt, thanks to Hurricanes Katrina, Gustav and Ike. This added cost increases the national deficit and debt.
Food prices also spike, depending on how fast the flood waters recede. Soybeans, corn, rice and cotton are either planted in the Mississippi River area in the spring, when flooding occurs. In addition, flood waters strip the ground of needed nutrients. This increases costs to farmers, but provides boon to fertilizer companies.
Does Global Warming Increase Mississippi River Floods?
Some say global warming is increasing tornado damage because the Gulf of Mexico is becoming warmer, increasing the contrast when it hits the cold air from the Rockies. Many others argue that global warming warms the cold air even more, which leads to fewer tornadoes.However, two separate studies in 2007 reported that global warming could increase the type of weather conditions that feed tornadoes. In the Proceedings of the National Academy of Sciences, Jeff Trapp of Purdue University, said the number of days that generate severe thunderstorms could double by the end of the century. Tony Del Genio, a NASA research scientist, used a computer model to find that global warming would increase the number of the most damaging tornadoes. He found that global warming will increase strong updrafts, when the wind moves up and down instead of sideways.
