This Map Shows Which States Will Benefit From Solar Eclipse Tourism
On August 21st, millions of Americans will migrate to towns along the path of the upcoming solar eclipse. The Great American Eclipse will stretch over 12 states, and it’s already being called the greatest temporary mass migration to see a natural event in U.S. history.
The last total eclipse occurred in the United States in 1979, and businesses are cashing in on the pent-up enthusiasm for this extremely rare celestial event.
Here are some high payoffs that “eclipse boom towns” are hoping for:
|City / Town||State||Population||Projected Visitors||Est. Economic Impact|
Many of the towns in the path of totality have been aggressively marketing themselves to potential onlookers. One town, Hopkinsville, KY, has branded itself as “Eclipseville” leading up to the occasion. It’s likely to payoff, since it’s been reported that visitors from 19 countries and 46 states are descending upon the small town for the perfect glimpse of the phenomenon.
As another example, the sleepy agricultural town of Madras, OR, has an entire festival devoted to the solar eclipse. Appropriately named Oregon Solarfest and running from August 17-22, the festival takes advantage of the town’s perfect location in the high desert of Central Oregon and typical clear skies. Although it’s hard to really determine how many people are coming for the solar eclipse – Madras anticipates over 100,000 visitors, and millions of dollars pouring into the town’s economy.
Accommodation and short-term rentals are skyrocketing thanks to the eclipse craze. Hotels along the route have been 95% booked since 2013, so remaining rooms are going at a premium. Here are a couple examples:
Airbnb reports that over 40,000 guests have been booked along the path of totality so far, with Nashville and towns in South Carolina making up nearly half of that activity.
Total Eclipse of the Grid
The other big impact the eclipse will have is on the U.S. power grid – particularly in states that have a higher reliance on solar energy.
Out of 1,900 power plants, only 17 of them are in the path of totality (mostly in eastern Oregon), but hundreds of others will be at least 90% obscured (mostly around North Carolina and Georgia).
More than 100 million solar panels are expected to be affected, dropping output by 20% — equivalent to all the energy the city of San Francisco uses in a week.
At first glance, the eclipse might seem like a major headache for utilities, power generators, and grid operators. However, David Shepheard, a managing director at Accenture, sees it instead as a rare opportunity for a “forecastable dress rehearsal” for dealing with major grid interruptions. Some companies are even using the brief interruption to measure exactly how much rooftop solar power is actually connected to their grids.
Party like it’s 2024
If you aren’t able to watch the upcoming eclipse, don’t worry. The next total solar eclipse in the United States will take place in 2024. (You may want to book your room now though!)
The Periodic Table of Commodity Returns (2012-2021)
Energy fuels led the way as commodity prices surged in 2021, with only precious metals providing negative returns.
The Periodic Table of Commodity Returns (2022 Edition)
For investors, 2021 was a year in which nearly every asset class finished in the green, with commodities providing some of the best returns.
The S&P Goldman Sachs Commodity Index (GSCI) was the third best-performing asset class in 2021, returning 37.1% and beating out real estate and all major equity indices.
This graphic from U.S. Global Investors tracks individual commodity returns over the past decade, ranking them based on their individual performance each year.
Commodity Prices Surge in 2021
After a strong performance from commodities (metals especially) in the year prior, 2021 was all about energy commodities.
The top three performers for 2021 were energy fuels, with coal providing the single best annual return of any commodity over the past 10 years at 160.6%. According to U.S. Global Investors, coal was also the least volatile commodity of 2021, meaning investors had a smooth ride as the fossil fuel surged in price.
Source: U.S. Global Investors
The only commodities in the red this year were precious metals, which failed to stay positive despite rising inflation across goods and asset prices. Gold and silver had returns of -3.6% and -11.7% respectively, with platinum returning -9.6% and palladium, the worst performing commodity of 2021, at -22.2%.
Aside from the precious metals, every other commodity managed double-digit positive returns, with four commodities (crude oil, coal, aluminum, and wheat) having their best single-year performances of the past decade.
Energy Commodities Outperform as the World Reopens
The partial resumption of travel and the reopening of businesses in 2021 were both powerful catalysts that fueled the price rise of energy commodities.
After crude oil’s dip into negative prices in April 2020, black gold had a strong comeback in 2021 as it returned 55.01% while being the most volatile commodity of the year.
Natural gas prices also rose significantly (46.91%), with the UK and Europe’s natural gas prices rising even more as supply constraints came up against the winter demand surge.
Despite being the second worst performer of 2020 with the clean energy transition on the horizon, coal was 2021’s best commodity.
High electricity demand saw coal return in style, especially in China which accounts for one-third of global coal consumption.
Base Metals Beat out Precious Metals
2021 was a tale of two metals, as precious metals and base metals had opposing returns.
Copper, nickel, zinc, aluminum, and lead, all essential for the clean energy transition, kept up last year’s positive returns as the EV batteries and renewable energy technologies caught investors’ attention.
Demand for these energy metals looks set to continue in 2022, with Tesla having already signed a $1.5 billion deal for 75,000 tonnes of nickel with Talon Metals.
On the other end of the spectrum, precious metals simply sunk like a rock last year.
Investors turned to equities, real estate, and even cryptocurrencies to preserve and grow their investments, rather than the traditionally favorable gold (-3.64%) and silver (-11.72%). Platinum and palladium also lagged behind other commodities, only returning -9.64% and -22.21% respectively.
Grains Bring Steady Gains
In a year of over and underperformers, grains kept up their steady track record and notched their fifth year in a row of positive returns.
Both corn and wheat provided double-digit returns, with corn reaching eight-year highs and wheat reaching prices not seen in over nine years. Overall, these two grains followed 2021’s trend of increasing food prices, as the UN Food and Agriculture Organization’s food price index reached a 10-year high, rising by 17.8% over the course of the year.
As inflation across commodities, assets, and consumer goods surged in 2021, investors will now be keeping a sharp eye for a pullback in 2022. We’ll have to wait and see whether or not the Fed’s plans to increase rates and taper asset purchases will manage to provide price stability in commodities.
A Global Breakdown of Greenhouse Gas Emissions by Sector
In a few decades, greenhouse gases (GHGs)—chiefly in the form of CO₂ emissions—have risen at unprecedented rates as a result of global growth and resource consumption.
To uncover the major sectors where these emissions originate, this graphic from Our World in Data pulls in data from 2016 courtesy of Climate Watch and the World Resources Institute, when total emissions reached 49.4 billion tonnes of CO₂ equivalents (CO₂e).
Sources of GHG Emissions
Global GHG emissions can be roughly traced back to four broad categories: energy, agriculture, industry, and waste. Overwhelmingly, almost three-quarters of GHG emissions come from our energy consumption.
|Sector||Global GHG Emissions Share|
|Agriculture, Forestry & Land Use||18.4%|
Within each category, there are even more granular breakdowns to consider. We’ll take a closer look at the top two, which collectively account for over 91% of global GHG emissions.
Within this broad category, we can further break things down into sub-categories like transport, buildings, and industry-related energy consumption, to name a few.
|Sub-sector||GHG Emissions Share||Further breakdown|
|Transport||16.2%||• Road 11.9%
• Aviation 1.9%
• Rail 0.4%
• Pipeline 0.3%
• Ship 1.7%
|Buildings||17.5%||• Residential 10.9%
• Commercial 6.6%
|Industry energy||24.2%||• Iron & Steel 7.2%
• Non-ferrous metals 0.7%
• Machinery 0.5%
• Food and tobacco 1.0%
• Paper, pulp & printing 0.6%
• Chemical & petrochemical (energy) 3.6%
• Other industry 10.6%
|Agriculture & Fishing energy||1.7%||-|
|Unallocated fuel combustion||7.8%||-|
|Fugitive emissions from energy production||5.8%||• Coal 1.9%
• Oil & Natural Gas 3.9%
Billions of people rely on petrol and diesel-powered vehicles to get around. As a result, they contribute to almost 12% of global emissions.
But this challenge is also an opportunity: the consumer adoption of electric vehicles (EVs) could significantly help shift the world away from fossil fuel use, both for passenger travel and for freight—although there are still speedbumps to overcome.
Meanwhile, buildings contribute 17.5% of energy-related emissions overall—which makes sense when you realize the stunning fact that cities use 60-80% of the world’s annual energy needs. With megacities (home to 10+ million people) ballooning every day to house the growing urban population, these shares may rise even further.
Agriculture, Forestry & Land Use
The second biggest category of emissions is the sector that we rely on daily for the food we eat.
Perhaps unsurprisingly, methane from cows and other livestock contribute the most to emissions, at 5.8% total. These foods also have some of the highest carbon footprints, from farm to table.
|Sub-sector||GHG Emissions Share|
|Livestock & Manure||5.8%|
Another important consideration is just how much land our overall farming requirements take up. When significant areas of forest are cleared for grazing and cropland, there’s a clear link between our land use and rising global emissions.
Although many of these energy systems are still status quo, the global energy mix is ripe for change. As the data shows, the potential points of disruption have become increasingly clear as the world moves towards a green energy revolution.
For a different view on global emissions data, see which countries generate the most CO₂ emissions per capita.
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