Chance For A 7-Year Climate Do-Over: Baltic Exchange Dry Index Shows Material Flows Falling, Toward 2001 Level
The Baltic Exchange Dry Index or "BDI" (plotted 2001 to present) is considered an economic indicator of future economic growth and production, world wide.
.…an assessment of the price of moving the major raw materials by sea. Taking in 26 shipping routes measured on a timecharter and voyage basis, the index covers Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain.Via:Wikipedia, Baltic Dry Index Taken as surrogate of material flows, combining resource extraction and distribution footprints, the BDI plot diving toward 2001 levels means that a great deal less fossil fuel is being consumed. The global economic crisis has turned the climate action time machine back to 2001. Going forward, for who knows how long, we have the climate footprint of 7 years ago. Yes, it would have been better to get the same effect with better design, by frugality, and so on. But we didn't; and here we are. There's indeed a good side to the financial downturn.
Image credit:Investment Tools, BDI, 2001 through present.
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