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‘$150 billion loss’: Los Angeles wildfires could be costliest disaster in US history

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Last updated: January 14, 2025 8:12 am
Admin 5 months ago
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‘$150 billion loss’: Los Angeles wildfires could be costliest disaster in US history
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New Delhi: The Los Angeles wildfires, which have reduced entire neighbourhoods to ruins and left an apocalyptic landscape, could become the costliest wildfires in US history in terms of insured losses, with analysts estimating damages of up to $20 billion, a Reuters report mentioned. The total economic losses from the disaster might range from $135 billion to $150 billion, according to a projection by AccuWeather.

Contents
Devastation and displacementCalls for accountability

With Santa Ana winds expected to return, authorities are predicting the situation to worsen. Thousands of homes have already been destroyed, and at least 24 lives lost across Los Angeles County. The National Weather Service has issued red flag warnings for extreme fire danger across much of southwest California, spanning eight counties.

Certain areas of Los Angeles and Ventura counties, including valleys and mountain ranges like Santa Monica and Santa Susana, remain under “particularly dangerous” conditions, an AP report mentioned quoting officials.

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Devastation and displacement

The fires have, so far, consumed over 160 square kilometre of land. Around 12,000 structures have been destroyed. At least 16 people remain missing, and thousands have been displaced.

Firefighting efforts continue, with over 8,000 personnel battling the flames across multiple fronts, including the Palisades and Eaton fires. Containment efforts have been affected by high winds, which have grounded firefighting aircraft. While containment rates for the Kenneth and Hurst fires have reached 100% and 89% respectively, the Palisades Fire is only 11% contained, and the Eaton Fire stands at 27%.

Authorities have cautioned people that even after orders are lifted, returning to home might not be safe due to lingering hazards such as damaged gas and electric lines.

Calls for accountability

The crisis has sparked accusations of leadership failures. Los Angeles mayor Karen Bass and California governor Gavin Newsom have faced criticism for resource management issues, including water shortages and underfunding of firefighting departments. LA Fire chief Kristin Crowley has pointed to inadequate financial support and insufficient water resources as major obstacles.

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TAGGED:California wildfiresDisaster reliefEaton FireEconomic impact of wildfiresFirefighting resourcesInsured losses in LALos Angeles wildfiresPalisades FireSanta Ana windsWildfire damage in LA
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