Happy coffee still has a smile on his face. But that smile may come at a higher cost. Alarmists will tell you that Happy Coffee may someday cease to exist. While I don’t find the evidence of global warming conclusive, the lower yields of Arabica coffee being blamed on global warming is certainly real. The average temperature in Columbia has risen one degree in the last 30 years. Factor in unpredictable weather patterns and increased frequency of storms and coffee crops have been shrinking. And what does that do to price economic students? Prices rise, and companies like Starbucks have noticed. Coumbia is the second largest producer of Arabica beans behind Brazil.
Read the full story here. It may one day take more smiling George faces to keep that cup grinning.