Hurricane Katrina's societal and economic impact has been measured at $81 billion to $125 billion. According to the NAS report, the impact of what it terms a "severe geomagnetic storm scenario" could be as high as $2 trillion. And that's just the first year after the storm. The NAS puts the recovery time at four to 10 years. It is questionable whether the US would ever bounce back.
"I don't think the NAS report is scaremongering," says Mike Hapgood, who chairs the European Space Agency's space weather team. Green agrees. "Scientists are conservative by nature and this group is really thoughtful," he says. "This is a fair and balanced report."
Thursday, March 26, 2009
Space storm alert: 90 seconds from catastrophe