Ignoring Climate Risks Could Sink U.S. Economy | EcoWatch
"In his opinion article in the Washington Post, Rubin argues that, in
economic terms, taking action on climate change will prove far less
expensive than inaction. He wrote: “By 2050, for example, between $48
billion and $68 billion worth of current property in Louisiana and
Florida is likely to be at risk of flooding because it will be below sea
level. And that’s just a baseline estimate; there are other scenarios
that could be catastrophic.
“Then, of course, there is the unpredictable damage from superstorms
yet to come. Hurricane Katrina and Hurricane Sandy caused a combined
$193 billion in economic losses; the congressional aid packages that
followed both storms cost more than $122 billion.
“And dramatically rising temperatures in much of the country will
make it far too hot for people to work outside during parts of the day
for several months each year—reducing employment and economic output,
and causing as many as 65,200 additional heat-related deaths every
year.”
"He concludes: “We do not face a choice between protecting our
environment or protecting our economy. We face a choice between
protecting our economy by protecting our environment—or allowing
environmental havoc to create economic havoc.”
The White House’s Council of Economic Advisers has
estimated that the eventual cost of cutting greenhouse gas emissions
will increase by about 40 percent for every decade of delay, because
measures to restrict them will be more stringent and costlier as
atmospheric concentrations grow."
"In his opinion article in the Washington Post, Rubin argues that, in
economic terms, taking action on climate change will prove far less
expensive than inaction. He wrote: “By 2050, for example, between $48
billion and $68 billion worth of current property in Louisiana and
Florida is likely to be at risk of flooding because it will be below sea
level. And that’s just a baseline estimate; there are other scenarios
that could be catastrophic.
“Then, of course, there is the unpredictable damage from superstorms
yet to come. Hurricane Katrina and Hurricane Sandy caused a combined
$193 billion in economic losses; the congressional aid packages that
followed both storms cost more than $122 billion.
“And dramatically rising temperatures in much of the country will
make it far too hot for people to work outside during parts of the day
for several months each year—reducing employment and economic output,
and causing as many as 65,200 additional heat-related deaths every
year.”
"He concludes: “We do not face a choice between protecting our
environment or protecting our economy. We face a choice between
protecting our economy by protecting our environment—or allowing
environmental havoc to create economic havoc.”
The White House’s Council of Economic Advisers has
estimated that the eventual cost of cutting greenhouse gas emissions
will increase by about 40 percent for every decade of delay, because
measures to restrict them will be more stringent and costlier as
atmospheric concentrations grow."
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