Global warming will cut US GDP by 10%

“Global Warming will reduce the US economy by 10% by the end of century.”

A recent article in the New York Times said that global warming is on track to reduce the size of the American economy by 10% by the end of this century.   The article stated that this fact comes from the National Climate Assessment, which is required by Congress.  The report was released by the Bush administration, even though the report contradicts almost everything Trump has said about the environment.  Trump released the report only because Congress mandates this.  The Trump administration deliberately released the report on Black Friday, the day after Thanksgiving, hoping no one would notice it.   They did their best to minimize the number of citizens who even realized there was such a report.

The following post consists of take-aways from three New York Times articles.

“A major scientific report issued by 13 federal agencies on Friday (November 23, 2018) presents the starkest warnings to date of the consequences of climate change for the United States, predicting that if significant steps are not taken to rein in global warming, the damage will knock as much as 10 percent off the size of the American economy by century’s end.”

“The report, which was mandated by Congress and made public by the White House, is notable not only for the precision of its calculations and bluntness of its conclusions, but also because its findings are directly at odds with President Trump’s agenda of environmental deregulation, which he asserts will spur economic growth.”

“All told, the report says, climate change could slash up to a tenth of gross domestic product by 2100, more than double the losses of the Great Recession a decade ago.”

“This report will be used in court in significant ways,” said Richard L. Revesz, an expert in environmental law at New York University. “

“The 1,656-page National Climate Assessment, which is required by Congress, is the most comprehensive scientific study to date detailing the effects of global warming on the United States economy, public health, coastlines and infrastructure. It describes in precise detail how the warming planet will wreak hundreds of billions of dollars of damage in coming decades.”

“Climate change is taking the United States into uncharted territory, the report concludes. “The assumption that current and future climate conditions will resemble the recent past is no longer valid,” it says.”

“This report will weaken the Trump administration’s legal case for undoing climate change regulations, and it strengthens the hands of those who go to court to fight them,” said Michael Oppenheimer, a professor of geosciences and international affairs at Princeton.”

“In direct language, the 1,656-page assessment lays out the devastating effects of a changing climate on the economy, health and environment, including record wildfires in California, crop failures in the Midwest and crumbling infrastructure in the South. Going forward, American exports and supply chains could be disrupted, agricultural yields could fall to 1980s levels by midcentury and fire season could spread to the Southeast, the report finds.”

“But the new report also emphasizes that the outcomes depend on how swiftly and decisively the United States and other countries take action to mitigate global warming. The authors put forth three main solutions: putting a price on greenhouse gas emissions, which usually means imposing taxes or fees on companies that release carbon dioxide into the atmosphere; establishing government regulations on how much greenhouse pollution can be emitted; and spending public money on clean-energy research.”

“More people will die as heat waves become more common, the scientists say, and a hotter climate will also lead to more outbreaks of disease.

Two areas of impact particularly stand out: trade and agriculture.”

“There is always some uncertainty in climate projections, but scientists’ estimates about the effects of global warming to date have largely been borne out.”

 

The image at the top of this page was taken in the Medicine Bow Mountains
about twenty years ago.  

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.