The Odd Lots podcast had an episode yesterday titled “A Historic El Niño Is Coming That Could Cost the World Trillions” that touched on a few of my interests including global warming, investing, and anadromous fish. I found it fascinating to hear a detailed scientific explanation of the El Nino that is forming and its potential environmental and economic impacts. While subject of anadromous fish was not specifically discussed, it is clear that the Pacific Ocean is going to be much warmer than normal this winter. The last time we had an El Nino steelhead returns were significantly depressed. No one knows what the impact will be in specific regions, there is the potential for extreme drought as well as torrential rains, but the scientific consensus is that this could be the worst El Nino in recorded history. Here’s a related post I made last month pointing to a report from Deutsche Bank suggesting that the El Nino will be inflationary. Many other investment banks have released similar reports since then.