I actually just finished a research paper on the Economics of Global Warming. Talking Points:
- There are scientific publications showing direct correlation between increased greenhouse gases (GHGs) and human behaviour (specifically pollution). CO2 levels have increased 35% since pre-industrial levels, global temperatures (in general) have risen, global precipitation (in general) has risen, and over the last century the sea level has risen.
- Some of the possible effects of of global climate change are: economic and agricultral instability; future natural disasters (flooding); and the ramifications of these aforementioned issues, such as ecological productivity, uncontrolled migration, and transportation complications, among many.
- The first issue to address is whether or not human pollution is responsible for the global climate change we are witnessing. If the environmentalists are correct, we must cut back on pollution levels to mitigate future damages (whatever they may be). Furthermore, if the critics are correct, our economic and social systems rely on current global weather patterns, so we should invest in ways to effectively adapt to these changes if we wish to maintain economic and social stability. The altered homeostasis will likely have vast and possibly devastating impact on the economy and all life on the planet, especially if we don't try either or both of the aforementioned strategies.
- Resources For the Future believes we will invest $16 trillion in energy infrastructure from 2003-2030, and CO2 emissions will rise by 60%.
- Mitigation costs can be allocated into three categories:
(1) "How far energy demand can be reduced by relatively cheap energy-efficiency measures."
(2) "How fast the price of renewable technologies will fall."
(3) The rate at which we cut emissions-- it's cheaper to cut emissions gradually because there are less fixed costs.
- Some critics suggest that we invest the money we would spend to curb emissions into developing countries so they are better equipped to adapt to the changes. They believe it's smarter to spend money with absolute benefits. Arguments against this suggest that if sea level and GHG concentration continues to rise the benefits of action to both the rich and poor world rise, while the protective effects of a developed economy fall.
- The last big issue is whether or not we have a duty to mitigate global climate changes, especially considering the economic impact this will have on the economy.
If you wish to learn about what is currently being done to curb CO2 emissions, read up on carbon emissions markets & the Kyoto Protocol.
Citations available on request.
Post edited at 12:18 am on Dec. 5, 2006 by old american century
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