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THE COST OF NATURAL DISASTERS

Philip Myers and Earl Crochet run through the latest updates coming to API 656 – Aboveground storage tank operations during uncontrollable natural disasters during the first six months of 2021, there have been eight separate billion-dollar weather and climate disaster events across the US.

The eye-opening plot in Figure 1 shows the magnitude of problems associated with natural disaster events, referred to as ‘natech’, which means ‘natural hazard-triggered technological event’. Natechs can occur any time natural disasters interact with petroleum or chemical storage facilities and their local associated societal infrastructure. A recent stretch of extreme cold weather in Texas was a good example of a serious natech. In this event important energy infrastructure was knocked out resulting in numerous problems and unfortunately, loss of life.

As a current natech example on the west coast of the US, extreme heat is creating unprecedented wildfires threatening infrastructure, homes and liv...

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