TFA article claims: "Indeed, the solar storm of May 2024 is estimated to have cost the US agricultural industry $500 million due to disruptions in precision navigation."
This seems hard to believe. The link provided hand waves through how it maybe could happen, and ends with an Economist just SWAGing that it could have been maybe a dollar an acre or so.
"He estimates that affected farms lost about $1 per acre. Nationally, this equates to an estimated half-billion dollars in lost earning potential, Griffin says."
So yeah, hard to believe was the right call. Very few farms were affected, but if we assume half of the total 900 million acres of farm land were, add 10% to get a round number, and guess it at a dollar per acre, we get the quoted big number.
That’s how all “estimated damages” work. It’s all just made up by some random person who guesstimated a number then multiplied it by the maximum possible people effected, realistic or not.
Tell me "it's different" with this one please https://sustainability.stanford.edu/news/study-links-past-em...
There’s probably a reasonable methodology but it has a lot of multiplications and some base parameters that make the whole thing wildly sensitive.
Yes, it's actually based on an economic model seemingly developed with a detailed understanding of modern farming practices and historical effects of timeline disruptions on yields. It may be approximate but isn't just some random dude guesstimating based on vibes or something.
https://farmdocdaily.illinois.edu/2024/05/how-will-the-gps-o...
https://shiny.agmanager.info/cottonBotsDev/