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The Economic Impact of Global Warming
Oilprice.com ^ | 10/12/2009 | Oilprice.com

Posted on 12/10/2009 11:18:32 AM PST by staffjam

An interesting look at the Economic Impact Global Warming has.

The costs of Global Warming are tremendous, estimates of course vary but most figures put out are in the trillions. So what does this mean for you and how are you directly affected by these costs?

In 2007, scientists at the Carnegie Institution measured, over the past 20 years, the annual yields of the world’s six largest crops (which account for 55% of non-meat calories consumed by humans and 70% of total animal feed)—and found that increasingly warmer temperatures led to lower crop yields. Those lower crop yields amounted to a net economic loss of $5 billion a year.

That’s good information, but there was one problem with the Carnegie Institution’s study, however: It looked backward. But by the time the Carnegie Institution’s study was released, another report had begun to gain notoriety: The Stern Review. In this 2006 report, Nicholas Stern, former chief economist of the World Bank, looked forward. His prediction: Climate change will have such a serious impact on economic growth that 1% of global gross domestic product (GDP) will be required to mitigate its effects. That’s a lot of money, given that GDP was almost $70 trillion in 2008, according to the World Bank. The full article is at: Global Warming

(Excerpt) Read more at oilprice.com ...


TOPICS: Agriculture; Business/Economy; Miscellaneous; Science
KEYWORDS: carneige; economics; globalwarming; thesternreview

1 posted on 12/10/2009 11:18:34 AM PST by staffjam
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To: staffjam

Good news.

Since sunspots seem to be disappearing, the planet will be cooling, which will lead to higher crop yields, which will in turn lead to an economic gain of billion of dollars a year.


2 posted on 12/10/2009 11:24:04 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: DuncanWaring

Its likely to do the opposite actually. Colder weather = lower yields on the whole.

The warmer=lower yields analysis is badly off I think.


3 posted on 12/10/2009 11:28:49 AM PST by buwaya
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To: staffjam

Historically, whenever the planet warms, food harvest increase with the longer growing seasons.

I welcome global warming.


4 posted on 12/10/2009 11:30:56 AM PST by Le Chien Rouge
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To: staffjam; Entrepreneur; livius; DollyCali; According2RecentPollsAirIsGood; Thunder90; ...
 




Beam me to Planet Gore !

5 posted on 12/10/2009 11:38:10 AM PST by steelyourfaith (Time to prosecute Al Gore now that fellow scam artist Bernie Madoff is in stir.)
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To: staffjam
If you think anthropogenic global warming is expensive, wait until you see the bill for Unicorn preserves and Emperor's New Clothing storage facilities.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

6 posted on 12/10/2009 11:42:06 AM PST by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: buwaya
A geologist acquaintance of mine was concerned about global cooling. As one of his hobbies he tinkered with strains of wheat somehow, and had developed several cold-weather strains and sent them to various universities (Sweden was one) to have them researched and developed.

I would hope that others have done the same with other crops, and for both warmer and colder varieties.

7 posted on 12/10/2009 11:43:57 AM PST by 21twelve (Drive Reality out with a pitchfork if you want , it always comes back.)
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To: staffjam

http://www.historylink101.com/lessons/farm-city/yeild.htm

Interesting that crop yields have actually doubled or trippled around the world between 1961 and 2000. Raw data are useful things.


8 posted on 12/10/2009 12:03:32 PM PST by HospiceNurse
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To: HospiceNurse

We would see a 10 to 12 percent decrease in grain crop yields if we managed to cut the atmospheric CO2 back to 1850 levels.

Conifer growth would be stunted by 30%.


9 posted on 12/10/2009 12:06:19 PM PST by listenhillary (I believe AGW is real now. It was caused by scientists and greenies LYING!)
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To: buwaya

A warmer planet is a wetter planet. And I would think places like Canada and Russia would get greater wheat production.


10 posted on 12/10/2009 12:45:08 PM PST by RobRoy (The US today: Revelation 18:4)
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To: staffjam

Well, if it would cause all those problems,
it sure is a good thing it isn’t happening, isn’t it?

On the other hand, what would the “economic impact” of the “global warming SOLUTIONS” be?


11 posted on 12/10/2009 12:46:31 PM PST by MrB (The difference between a humanist and a Satanist is that the latter knows who he's working for.)
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To: MrB

Quite a few energy pundits believe global warming is just what we need to focus on new energy solutions. Is it manmade/natural who knows - but we must figure out the next step!


12 posted on 12/10/2009 2:26:17 PM PST by staffjam
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To: staffjam

I don’t buy that these leftists want alternative energy - they just want NO CONSUMPTION on our part.


13 posted on 12/10/2009 3:16:04 PM PST by MrB (The difference between a humanist and a Satanist is that the latter knows who he's working for.)
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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...

The economic impact of the demagoguery advocating global warming as a consequence of economic activity is, do-nothings like the demagogue Al Gore make millions doing nothing, while using more energy and producing more pollution than the rest of us.


14 posted on 12/10/2009 6:55:27 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
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