El Ninos are far costlier than once thought, in the trillions, study says — and one’s brewing now

WASHINGTON (AP) — A new study finds the natural burst of El Nino warming that changes weather worldwide is far costlier with longer-lasting expenses than experts had thought, averaging trillions of dollars in damage. Thursday’s study is especially timely because an El Nino is brewing right now. The new study figures the damage is more than 100 times higher than previous estimates. Study authors say the average El Nino costs the global economy about $3.4 trillion, including lasting economic scars. Previous research found that in the United States El Ninos help, don’t hurt the economy. Some economists are skeptical of the new study out of Dartmouth.