Cost of global warming over the next 40 years = $7 trillion?
A review commissioned by the British government, compiled by Nicholas Stern, former chief economist at the World Bank, has estimated that the cost of unmitigated climate change could be as much as $7 trillion in the next 40 years. That's about 20% of all the money in the world.
The extremely scary piece of information is accompanied by a polite suggestion that we spend 1% of the world's money right now, in order to avoid that fate. "We can pay one percent more now," Stern explained, "We can grow and be green."
http://green.yahoo.com/index.php?q=news/208
Isn't the mere prospect of a $7 trillion cost worth doing things like reducing our dependency on oil and becoming more energy efficient?
You forget that $7T number is almost a year old now. It is higher. And that isn't the cost of DOING something ... that is the cost of NOT doing something. That is the cost of crop loses, interrupted flights, and roads and railways buckling under extreme heat. It is the cost of England being flooded and Europe being in a drought.
The immediate savings people will see by conserving is totally unrelated to that number and will have no immediate effect on it.
I.e. not only are you going to pay 20% more for your food and gas due to Global Warming, but you could save yourself money and mitigate the circumstances causing those costs through conservation. But you will not live to see "reduced Global Warming". It has already happened and will continue for generations.
www.homemadeenergy org - Home made energy review (Renewable energy: Solar & Wind)
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