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An aerial view of wildfire of Tatkin Lake in British Columbia, Canada on July 10, 2023.

BC Wildfire Service | Anadolu Agency | Getty Images

Record high temperatures and a record fire season are hitting Canada at the same time this summer, leading to an unprecedented combination of heat, fire and dangerous smoke plumes.

“I can’t emphasize enough just how terrifying this moment is on our planet. With global temperature records breaking and fires and floods raging around the world, our house is truly on fire,” Kristina Dahl, principal climate scientist at the Union of Concerned Scientists, told CNBC.

Climate change, caused by greenhouse gas emissions, is making the planet hotter and also increasing the potency of the ingredients that are necessary for wildfires to burn. Even if humans stopped burning all fossil fuels today, the carbon dioxide already in the atmosphere is going to continue heating the planet for decades to come.

“If I had a magic wand and said, ‘no more greenhouse gases being produced from human activities as of now,’ we will continue to warm for 30 to 50 years,” explained Michael Flannigan, the research chair for predictive services, emergency management and fire science at Thompson Rivers University British Columbia.

That means what’s happening now is unprecedented, but it’s also a harbinger of what’s coming.

“This is the new reality, not the new normal, because we’re on a downward spiral,” Flannigan told CNBC.

Record-breaking wildfires with no end in sight

On June 27, Canada surpassed the record set in 1989 for total area burned in one season when it reached 7.6 million hectares, or 18.8 million acres, a communications officer for Natural Resources Canada, told CNBC.

The total has since increased to 9.3 million hectares, or 23 million acres, which is about the size of South Carolina. The average is around 2.2 million hectares, or 5.4 million acres, or about the size of Massachusetts.

“The current wildfire season in Canada has been astounding and record breaking,” Dahl told CNBC.

Soon, the total amount of land burned this year will hit the equivalent of Maine, Flannigan said.

“We’re used to getting fires in the West, or the East, or in the north, or the central — but not the whole country at the same time,” Flannigan told CNBC.

An aerial view of wildfire of Tatkin Lake in British Columbia, Canada on July 10, 2023.

BC Wildfire Service | Anadolu Agency | Getty Images

And the fire season is not even close to over. There are currently 908 active fires burning in Canada, and 576 of those are classified as “out of control,” according to data in a real time dashboard operate by the Canadian Interagency Forest Fire Centre as of 2:15pm EST on Thursday.

“I’m not sure where we’re going to end up with this because it keeps keeps on burning,” Flannigan told CNBC. “Some of these fires are huge. And they will burn all summer, all fall, and some of them will burn through winter. Underground they smolder and even though you can have snow on top, they keep burning underground. And then spring, the snow melts, stuff gets hot, dry and windy. They pop to the surface and start spreading again.”

Record heat turns vegetation into kindling

Earlier in July, the Earth recorded its hottest average day since records began — then repeated the feat three times in four days.

Temperatures in Canada are no exception. Earlier this year, Fort Good Hope, at about 66 degrees north latitude in the Northwest Territories, reached 37.4 degrees Celsius — more than 99 degrees Fahrenheit — setting a record for the warmest Canadian temperature at that latitude, according to the Canadian government. Subsequent readings in nearby communities were even hotter, according to news reports.

“We’re in uncharted waters here,” Dahl told CNBC.

“Since May we’ve seen a pattern of heat domes developing in parts of North America,” Dahl told CNBC. A heat dome is a weather event that occurs when the atmosphere traps hot air like a lid or a cap, as the National Oceanic and Atmospheric Administration describes it. “These zones of extreme heat tend to persist for long stretches of time — weeks in some cases. The heat dome that developed in May was linked to the development and spread of the fires in Alberta that kicked off the start of Canada’s record-breaking fire season.”

“I’ve never seen it start so early that far north,” Flannigan told CNBC. Before he started working in academia, Flannigan worked for the Canadian Forest Service for 30-plus years.

Hotter weather dries out vegetation, which serves as fuel for the wildfires.

“The warmer it gets, the atmosphere gets more efficient at sucking the moisture out of the fuels,” Flannigan told CNBC. “It’s not a linear increase, it’s almost exponential.”

Also, warmer temperatures lead to more lightning, Flannigan said. In Canada, about half of wildfires are started by lightning, but they are responsible for 80% to 90% of the land burned, since these areas tend to be remote and harder for firefighters to reach.

A future of more fire and smoke

Three key ingredients for a wildfire spread are fuel, ignition and weather, Sarah Burch, a climate change professor at the University of Waterloo and the executive director of the Waterloo Climate Institute, told CNBC.

“While wildfire is a natural feature of healthy ecosystems, climate change affects all three of the factors” that cause wildfires, Burch told CNBC. So, too, does land management. For example, the mountain pine beetle is killing trees and turning them into fuel for wildfires, Burch told CNBC. And long-duration droughts also make forests more flammable.

“This means that we expect fires to increase in frequency and intensity in the future,” Burch told CNBC.

People will have to learn to live alongside those wildfires.

Smoke from wildfires in Canada shrouds the Empire State Building on June 30, 2023 in New York City.

David Dee Delgado | Getty Images

“This is a common misconception of people that fire management can stop all fires all the time. Obviously, that’s not true,” Flannigan said.

If firefighters arrive when a fire is still small, they can put it out. But sometimes a fire can balloon into a high-intensity blaze in as little as 15 minutes. When a wildfire becomes a “crown fire,” meaning it jumps from tree top to tree top, “the horse has left the barn,” Flannigan told CNBC. “It’s too late. You’ve missed your window.”

Some fire mitigation techniques can work to slow the back end of a fire that’s already burning at full intensity, but when “that head is just racing across the landscape, you just have to get out of the way.”

This means more smoke from these wildfires traveling to other parts of the globe, too. Earlier in July, wildfire smoke from Canada blanketed much of the United States mid-west and Eastern seaboard.

There is no silver bullet to solving this problem, Flannigan says. Drones and artificial intelligence can help scientists track and monitor fire movement, but they are tools, not solutions. The only long-term solution is to reduce greenhouse gas emissions on a global scale to mitigate the effects of climate change.

“I think there’s still time if we get our act together as a global society to deal with this. And sometimes people need a bloody nose or two before we change our behavior. We can change. And I’m hoping that we’re getting the bloody noses and now we’ll actually do something about fossil fuels,” Flannigan said.

How cloud seeding can help alleviate drought

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Apple leads a drop in tech stocks after Trump tariff announcement

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 Apple leads a drop in tech stocks after Trump tariff announcement

Apple CEO Tim Cook, center, watches during the inauguration ceremonies for President Donald Trump, right, and Vice President JD Vance, left, in the rotunda of the U.S. Capitol in Washington, Jan. 20, 2025.

Shawn Thew | Afp | Getty Images

Apple slid more than 6% in late trading Wednesday and led a broader decline in tech stocks after President Donald Trump announced new tariffs of between 10% and 49% on imported goods.

The majority of Apple’s revenue comes from devices manufactured primarily in China and a handful of other Asian countries. Nvidia, which manufactures new chips in Taiwan and assembles its artificial intelligence systems in Mexico and elsewhere, fell about 4%, while electric vehicle company Tesla dropped 4.5%.

Across the rest of the megacap universe, Alphabet, Amazon and Meta all dropped between 2.5% and 5%, and Microsoft was down by almost 2%.

If Apple’s postmarket loss is matched in regular trading Thursday, it would be the steepest decline for the stock since September 2020.

Trump on Wednesday afternoon said the new taxes on imported goods would be a “declaration of economic independence” for the country. He announced a 10% blanket tariff on all imports, and higher duties for specific countries, including 34% for China, 20% for European nations, and 24% for Japanese imports, based on what tariffs they charge on U.S. exports, Trump said.

“We will supercharge our domestic industrial base, we will pry open foreign markets and break down foreign trade barriers,” Trump said during his speech. “Ultimately, more production at home will mean stronger competition and lower prices for consumers.”

Stocks broadly got hit by Trump’s announcements. An exchange-traded fund tracking the S&P 500 slid 2.8%, while an ETF following the Nasdaq 100 lost more than 3%.

During his speech, Trump praised Apple, Meta, and Nvidia for spending money and investing in the United States.

“Apple is going to spend $500 billion, they never spent money like that here,” Trump said. “They’re going to build their plants here.”

The Nasdaq just wrapped up its worst quarter since 2022, dropping 10% in the first three months of the year, though the tech-heavy index rose in each of the first two days of the second quarter.

WATCH: President Trump signs executive orders for reciprocal tariffs

Pres. Trump signs executive orders for reciprocal tariffs

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Amazon submits bid for TikTok as ban deadline nears

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Amazon submits bid for TikTok as ban deadline nears

Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk attend the Inauguration of Donald J. Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC. Donald Trump takes office for his second term as the 47th president of the United States. 

Julia Demaree Nikhinson | Getty Images

Amazon submitted a bid to the White House to purchase the social media app TikTok from its Chinese owners, CNBC has confirmed.

The company sent its proposal in a letter this week to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a source familiar with the matter who asked not to be named because the discussions are confidential. The parties aren’t treating the bid seriously, however, given that it was submitted just days before a deadline staving off a U.S. ban is set to expire, the person said.

Amazon declined to comment.

The e-commerce company’s offer, which was first reported by The New York Times, comes as TikTok’s fate in the U.S. is up in the air. The short-form video app faces another potential shutdown in the U.S. on April 5 if ByteDance, its parent company, can’t reach a deal to divest TikTok’s American operations. Lawmakers passed a bill last year setting a Jan. 19 deadline for the sale, but Trump signed an executive order granting a 75-day extension for a potential deal.

Trump could announce a decision on TikTok’s fate in the U.S. as soon as Wednesday, sources familiar with the situation told CNBC’s David Faber. Mobile technology company AppLovin has also made a bid for TikTok, Faber reported separately, citing sources familiar with the matter.

TikTok has emerged as a major hub for e-commerce as it has poured money into growing its online marketplace, called TikTok Shop. TikTok’s lucrative marketplace, coupled with the app’s more than 170 million users, could be an attractive asset for Amazon. Following TikTok’s success, Amazon launched and then shuttered a short-form video service of its own.

Last August, the two companies formed a partnership that allowed TikTok users to link their account with Amazon and make purchases from the site without leaving the app. The deal attracted scrutiny from lawmakers who were concerned about its potential national security risks.

WATCH: How TikTok Shop is beating Amazon and Temu in social shopping

How TikTok Shop Became The Fastest Growing Social Media Shopping Platform

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Tesla shares rise on report Elon Musk could be leaving DOGE post soon

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Tesla shares rise on report Elon Musk could be leaving DOGE post soon

White House Senior Advisor Elon Musk walks to the White House after landing in Marine One on the South Lawn with U.S. President Donald Trump (not pictured) on March 9, 2025 in Washington, DC. Trump was returning to the White House after spending the weekend at Mar-a-Lago, his private club in Florida. 

Samuel Corum | Getty Images News | Getty Images

Tesla shares rose Wednesday after Politico reported that Elon Musk could leave his post at the so-called Department of Government Efficiency, paving the way for the CEO to return his focus on the struggling EV maker.

The White House later called the report “garbage.”

The stock was last up about 5%. At its session lows, it had dropped as much as 6.4% on the back of weaker-than-expected vehicle deliveries for the first quarter.

The report — which cites Trump insiders — noted that, while President Donald Trump is pleased with Musk and the DOGE spending cuts that have been pushed through, the two decided in recent days that the billionaire would soon return to his businesses. NBC News is reporting that Trump told the cabinet Musk could leave in the coming months.

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TSLA recovers

Wednesday’s report comes during a tough stretch for Tesla. Despite Wednesday’s gains, the stock has dropped more than 5% over the past month. Year to date, it has tumbled more than 31%. Shares also shed 36% in the first quarter, marking their biggest quarterly drop since 2022.

Musk’s role in the White House is one factor weighing on Tesla’s stock. It has sparked waves of protests, boycotts and violent attacks on Tesla stores and vehicles around the world. Trump’s automotive tariffs are also a concern as they involve Tesla’s key suppliers — notably in Mexico and China.

“My Tesla stock and the stock of everyone who holds Tesla has gone, went roughly in half,” Musk said on Sunday night at a rally he held in Green Bay, Wisconsin, to promote a Republican judge he backed in Tuesday’s state supreme court election, Brad Schimel. “This is a very expensive job is what I’m saying.”

In addition to holding the rally in Wisconsin, Musk spent millions and frequently posted about the race on his social network X. Judge Susan Crawford, who won the seat on the Wisconsin Supreme Court, was backed by Democrats and progressive groups who criticized Musk, his money and influence on the race as well as his DOGE work in their campaigns.

Separately, New York City Comptroller Brad Lander urged the city to sue Tesla on behalf of NYC pension funds citing Musk’s work for the White House.

In a Tuesday statement, Lander’s office said: “The basis of the potential litigation are the material misstatements from Tesla claiming that CEO Elon Musk spends significant time on the company and is highly active in its management, despite his helming the Trump Administration’s DOGE initiative, spending little of his time actually managing Tesla, and promoting policies that are actively harmful to Tesla’s business.”

CNBC reached out to the White House for comment.

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