A review of multiple data sources for British Columbia and the Pacific Northwest for current snowpack levels and water equivalent levels compared with those versus history shows low levels worthy of note.
Indeed, current average water equivalent levels in BC are well below historical levels and significantly lower than the comparative in Q1 2021.
Moreover, snow water equivalent levels across the U.S. Pacific Northwest are well below historical levels throughout Oregon and have deteriorated in recent months.
Given the large amounts of hydroelectric generation in the region, water levels are meaningful for many Western power markets and other parts of the overall energy ecosystem (i.e., natural gas-fired generation and pipeline flows in selected sub-markets).
Action on the global climate is not a question of "if" but "how". Over 140 countries covering ~90% of global emissions have announced or are considering net-zero targets. CCS will be a crucial part of reduction efforts.
On average, the 12 US recessions since 1950 have lasted 10 months, with a 2% drawdown in GDP. The impact of a future US recession would be lower, as EM Asia's share of global GDP is now meaningfully higher, and exports to US/EU are a much lower share of GDP. On the other hand, four months of Chinese COVID lockdowns may have affected global goods demand as much as a typical US recession over 10 months might.