- Questions are being asked about key government agencies having sufficient funding, personnel and equipment to face upcoming hurricane season.
- CSU expert researchers predict an above-average Atlantic hurricane season in 2020.
- One of NSRI’s primary objectives is to provide solution for treatment, handling of tree debris, a frequent by-product of hurricanes.
As the Atlantic hurricane season officially begins, new concerns this year center on available funding and other resources available to the Federal Emergency Management Agency (“FEMA”). The season, already forecast to be an above-average hurricane this year, now raises questions about key government agencies having sufficient funding, personnel and equipment after significant resources have been diverted to fighting the novel coronavirus (http://ibn.fm/Tbn0e). National Storm Recovery Inc. (OTC: NSRI), a provider of storm/disaster recovery services, is prepared for the heavier-than-normal season, however, as its resources are focused on storm and disaster recovery rather than COVID-19.
“The Federal Emergency Management Agency (FEMA), often the first agency called when a major hurricane hits land, has already allocated considerable resources to fighting COVID-19,” reported an article published by The Hill. “According to an agency spokesperson, more than 3,100 FEMA employees have been tasked with combating the pandemic. As of April 30, FEMA had committed $5.4 billion to COVID-19 relief assistance from its disaster relief fund.”
The article goes on to note that FEMA’s disaster relief fund had been boosted to $45 billion this year, thanks to funding from a recent stimulus package, and that in its most recent report to Congress, FEMA stated that the fund had roughly $74.2 billion in it going into May.
However, “while $74 billion may seem like more than enough, a major hurricane could run the fund completely dry,” the article observed. “For reference, in 2017, Hurricane Harvey — a category 4 hurricane — did an estimated $125 billion in damage to Houston. In fact, FEMA allocated more than $6 billion in aid this fiscal year to continue the recovery process from 2017’s trio of deadly storms — Harvey, Maria and Irma.”
Earlier this year, researchers at Colorado State University predicted an above-average Atlantic hurricane season in 2020, citing the likely absence of El Niño as a primary factor (http://ibn.fm/2E0oK). The researchers observed that tropical and subtropical Atlantic sea surface temperatures are currently warmer than their long-term average values and are consequently also considered a factor favoring an active 2020 Atlantic hurricane season. The researchers also noted a 70% chance that a category 3, 4 or 5 hurricane would make landfall somewhere along the U.S. coastline this year.
“[The National Oceanic and Atmospheric Administration] NOAA’s Climate Prediction Center is forecasting a likely range of 13 to 19 named storms (winds of 39 mph or higher), of which 6 to 10 could become hurricanes (winds of 74 mph or higher), including 3 to 6 major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher),” FEMA announced. “NOAA provides these ranges with a 70% confidence. An average hurricane season produces 12 named storms, of which 6 become hurricanes, including 3 major hurricanes.”
National Storm Recovery is prepared for the upcoming season. Through its subsidiaries, including National Storm Recovery LLC, NSRI provides tree services, debris hauling, removal and biomass recycling, manufacturing, packaging and sales of next-generation mulch products. One of the company’s primary corporate objectives is to provide a solution for the treatment and handling of tree debris, a frequent by-product of hurricanes. Historically such tree debris is sent to local landfills and disposal sites, creating an environmental burden and pressure on disposal sites around the nation. NSRI is committed to creating synergistic and environmentally beneficial solutions to tree and storm waste disposal.
For more information, visit the company’s website at www.NationalArborCare.com.
NOTE TO INVESTORS: The latest news and updates relating to NSRI are available in the company’s newsroom at http://ibn.fm/NSRI