Most definitely. Climate change causes more severe floods, droughts, hurricanes, typhoons, heat waves, and cold spells. It is the weather of extremes. When these extreme weather patterns hit a city, or industrial center, like Hurricane Ike did, the effects can be seen across the economy. Gas prices rose after the oil refineries were damaged, which in turn hurt the entire economy in the US. So I do not think it is a question of could it happen, but more how frequently it is going to happen if we do not curve our appetite for greenhouse gases.
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