claim: Severe storms, floods and agricultural losses may cost a great deal of money, but such extreme weather events—and their resulting costs—are dramatically declining as the Earth modestly warms.
evidence: In economic terms, they can cost many billions of dollars : a drought in the United States in 1988 caused over $40 billion in losses, exceeding the economic totals of Hurricane Andrew, the Great Flood of 1993, and the 1989 Loma Prieta earthquake.