Losses from California wildfires could exceed $275 billion

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Losses from California wildfires could exceed $275 billion

Egypt Daily News – AccuWeather estimates the total damage and economic losses resulting from the devastating wildfires burning in Southern California to between $250 billion and $275 billion, according to an article published on its website.

AccuWeather Chief Meteorologist Jonathan Porter said this is one of the worst wildfires in California history, and if the flames continue to consume more buildings over the coming days, it could become the worst in the state’s modern history based on the number of buildings burned and the economic losses.

Porter noted that estimates of damage and economic losses from the Los Angeles fires exceed the numbers recorded for the 2020 wildfire season, which was one of the most active in the United States.

The losses in Los Angeles are also much higher than the deadly Maui fires in 2023, which amounted to between $13 billion and $16 billion, and also exceed estimates of $225 to $250 billion resulting from Hurricane Helen in 2024.

The report indicated that this estimate is preliminary, as the fires are still spreading, the effects are continuing, and damage and injuries have not been reported in some areas yet.

Strong winds expected to increase
California Governor Gavin Newsom said that wildfires in the state could be the costliest in US history, amid expectations of increased strong winds that raise fears of a wider disaster.

Newsom noted, in statements to NBC’s “Meet the Press” program on Sunday, that the fires, which have destroyed more than 40,000 acres so far, according to the California Department of Forestry and Fire Protection, represent one of the worst disasters in terms of cost and scope.

He added that the death toll, which had reached 24 as of Sunday evening, is expected to rise, according to authorities in Los Angeles.

At the same time, authorities have placed tens of thousands of residents under evacuation orders, with fires continuing to threaten homes in upscale areas such as Mandeville Canyon and Brentwood.

The National Meteorological Service warned of wind gusts ranging between 50 and 70 miles per hour, while drought conditions remain, according to what was reported by the Financial Times.

Firefighters were able to contain three fires since Tuesday, authorities are still struggling to control the Palisades and Eaton fires, as their containment rates reached 13% and 27%, respectively. The Federal Emergency Management Agency is working to provide aid to affected citizens, and Newsom issued an executive order to facilitate the rapid reconstruction of damaged homes.

While the number of victims continues to rise, those who have lost their homes face major problems with insurance companies, and fires remain a major threat.

On Sunday morning, the California Fire Department reported that the Palisades, Eaton, Kenneth, and Hearst fires had burned nearly 62 square miles (160 square kilometers), an area larger than the city of San Francisco. The Palisades and Eaton fires were responsible for the destruction of 59 square miles (about 153 square kilometers).

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