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A new analysis by the Climate Impact Lab explores how global warming will hurt skiing opportunities in the U.S. It looks at how some major ski towns will see fewer below-freezing days in decades ahead under different emissions levels.

Expand chart
Data: Climate Impact Lab; Note: Moderate emissions projection used; Chart: Andrew Witherspoon / Axios
  • The chart above is reconstructed from their analysis of below-freezing days under of a "moderate" emissions scenario that would prevent runaway warming, but likely would not hold the rise below two degrees Celsius compared to preindustrial levels.
  • Why it matters: "As the climate continues to warm, the number of days that can support snowfall are expected to decrease, and ski resort towns could lose valuable tourism traffic," states the Climate Impact Lab, a collaboration between scientists, economists and other experts.

More from the report:

  • "Average snowfall is influenced by a resort’s elevation and the frequency of winter storms and precipitation. But, it’s just not going to snow if it’s warm outside — days below the freezing temperature of 32°F signal whether a resort town can potentially support snowfall for ski days."
  • "Making snow doesn’t get resorts off the hook either. The ideal temperature for artificial snowmaking is an even colder 28°F, dependent on humidity.

Go deeper

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How central banks can save the world

Illustration: Aïda Amer/Axios

The trillion-dollar gap between actual GDP and potential GDP is a gap made up of misery, unemployment, and unfulfilled promise. It's also a gap that can be eradicated — if central banks embrace unconventional monetary policy.

  • That's the message from Eric Lonergan and Megan Greene, two economists who reject the idea that central banks have hit a "lower bound" on interest rates. In fact, they reject the idea that "interest rates" are a singular thing at all, and they fullthroatedly reject the idea — most recently put forward by New York Fed president Bill Dudley — that the Fed is "out of firepower."

Why it matters: If Lonergan and Greene are right, then central banks have effectively unlimited ammunition in their fight to increase inflation and employment. They are limited only by political will.

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3 hours ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.