<html aria-label="message body"><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body style="overflow-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;"><br><div>
<meta charset="UTF-8"><div style="text-align: start; text-indent: 0px;"><p style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;">The Wall Street Journal July 2, 2026</p><div class="css-l74hns-StyledBox e1vnmyci0" style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;"><h1 class="css-1q0k1yi-StyledHeadline-Styled-Styled-Styled emwm06f0"><font size="5">Heat Waves Are Becoming a Chronic Drag on the Economy</font></h1></div><h2 class="css-eq0jiq-NormalDek-NormalDek-Styled-Styled-Styled emwm06f0" style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;">Plus: the nuclear renaissance\u2019s missing ingredient and the cutthroat battle to be America\u2019s rare-earth champion</h2><p style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;">By <a data-testid="author-link" href="https://www.wsj.com/news/author/ed-ballard" target="_self" aria-label="Author page for Ed Ballard" class="epvx9353 css-1y23mou-AuthorLink"><span class="css-17x5lw">Ed Ballard</span></a></p><p style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;"><a class="moz-txt-link-freetext" href="https://www.wsj.com/business/energy-oil/heat-waves-are-becoming-a-chronic-drag-on-the-economy-f5000335">https://www.wsj.com/business/energy-oil/heat-waves-are-becoming-a-chronic-drag-on-the-economy-f5000335</a></p><p><span style="background-color: rgb(255, 255, 255);"><font color="#ff2600"><b><span style="caret-color: rgb(0, 0, 0);">\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014 excerpts</span></b></font></span><font color="#ff2600"><b>\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014</b></font></p><p><span style="background-color: rgb(255, 255, 255);">Heat waves are underscoring how global warming has become a here-and-now issue for economists.</span></p><p style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;"><span style="background-color: rgb(255, 255, 255);">For George Buckley, chief European economist at Japanese bank Nomura, climate change is becoming harder to ignore, even in a profession preoccupied with quarterly data.</span></p><p style="caret-color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; letter-spacing: normal; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration: none; -webkit-text-stroke-width: 0px; color: rgb(0, 0, 0); font-weight: normal;"><span style="background-color: rgb(255, 255, 255);">Extreme heat depresses economic activity by restricting work and disrupting transport. Economists at Dutch bank ING said canceled events and closed schools "brought back memories of the pandemic lockdowns."</span></p><br class="Apple-interchange-newline"><br></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;">\u2014\u2014\u2014\u2014\u2014\u2014</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><br></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;">\u201cWhen I tell politicians to act now, the most common answer is that they can\u2019t do anything drastic, because that would be too unpopular among voters. <br><br>\u201cAnd they are right of course.\u201d<br><br>15 yr. old Greta Thunberg in speech to European Parliament<br><br>Full text <br>https://www.europarl.europa.eu/resources/library/media/20190416RES41665/20190416RES41665.pdf</div>
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