10 Effects Of Global Warming – We begin by listing the negative consequences of global warming and the individual, business, and national costs of global warming. This is because preventing financial loss and financial disaster is something that many people worry about and constantly monitor their future well-being…
If temperatures continue to rise as they are now and by the end of the century only “hope” rises as the current global warming authorities predict:
10 Effects Of Global Warming
2. Global warming will enable a massive migration of value and wealth from hot to cold parts of the world. At least initially, Russia, Mongolia, Canada, and possibly the northern parts of the United States will benefit greatly economically. Most of Europe will improve slightly, although parts of it will experience severe drought The US and China will be worse off, with the US South and West in particular experiencing heat and/or drought crises. All countries in Africa, Asia, South America and the Middle East will be financially devastated.
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4. Inflation will increase (reaching 100% in the final stages of the Clymageddon scenario) (3). This increase in inflation is due to the ever-increasing damage to be repaired from natural disasters linked to global warming that continue to spread at local, regional, national and international levels. Repairing these ongoing and increasing natural disasters will create a demand on sustainable resources The lack of needed repairs and resources will continue to push prices and inflation higher and higher
The economic costs of global warming will increase with each degree increase in global temperature. It is likely that the costs of global warming will not increase linearly, but more likely in an increasing circle.
Estimates of the total costs of global warming are based on a variety of inputs, assumptions, and computer models. As you will soon discover, no matter which estimate you use, the rising costs of global warming will place an intolerable, ever-increasing burden on the world’s citizens and nations. As you read these cost estimates, remember that none of these estimates put a dollar value on predicted lifetime losses.
Obviously, upgrading, refurbishing, relocating or building existing and new infrastructure, homes and businesses will be expensive at first. The 2006 Global Warming Survey estimated that the cost of global warming would increase by 5% or more of the gross domestic product of all countries in the world. (GDP [GDP] is a monetary measure of the value of all goods and services produced in a given period [quarterly or annually].
Climate Change Impact On Flood And Extreme Precipitation Increases With Water Availability
This means that 5% of the world’s total production will be lost due to rapid adaptation to the consequences associated with global warming. For economic comparison and perspective, note that the Great Depression of the 1930s in the United States resulted in a loss of only 4% of US national income.
The most recent study in 2015 found that if global average temperatures reach 6°C (10.8°F) by the end of this century, countries around the world will spend 10% to 30% of their gross domestic product. Global warming is a byproduct of an endless stream of back-to-back disasters and catastrophes. Current world GDP is about $80 trillion a year; By 2100 it could double or triple That means that in 2100, we could spend a third of the world’s GDP—about $100 trillion a year—just trying to get extinct from global warming.
If global warming extinctions can be avoided, the estimated cost of all damages associated with global warming could be between $400 and $600 trillion—about eight years of the national income of every country in the world. To put this in perspective, this means that if we fail to successfully deal with global warming now, we will have to spend 5 to 8 times the present value of global annual human output in the future trying to deal with global warming. Result
At worst, that’s all we can afford if we’re lucky If we move to irreversible climate damage or extinction-level damage, what will the cost be?
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In addition, all of the financial costs associated with global warming-related disasters and emergencies will quickly erode any national safety net for emergency rescue. It will cause unimaginable suffering among those who are not prepared and therefore the government will have no safety net
It is clear that no single person, organization or country can cope with these increasing economic losses due to global warming.
Here is a small sampling of the costs already incurred due to severe weather caused by global warming The National Oceanic and Atmospheric Administration (NOAA), which tracks billions of dollars in losses due to extreme weather, estimates that severe storms cost $8 billion in the 1980s, $26 billion in the 1990s, $43 billion in the 2000s, and $78 billion so far in 2010.
In 2017 alone, the combined cost of all U.S. disasters exacerbated by global warming was nearly $500 billion. Soil made the difference in California.) The $300 billion cost predicted in the new Phase 2 climate model is correct.
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In the figure below, you can see a projection of an event that increases the costs of disasters due to global warming during the six phases of the climate model climate model. You can also see how our personal experience will worsen as a result of global warming, as the disaster progresses from stage to stage.
If we continue down the path of global warming, we will soon face a new type of superstar, one we can call the Millennium Superstorm. Millennium storms are extremely powerful storms that have not been seen on Earth for thousands of years These new millennium storms are important to consider because almost all of our infrastructure is built to survive the once-in-100-year storms. Our current infrastructure is not ready to withstand this 1000 year millennium storm. For more information on hurricanes, read this article by Paul Douglas (5)
Economic losses due to increased global warming will be enormous There will be some major losses:
A. Home and business owners are not immune to global warming in disaster areas. Those who live near floodplains of rivers or lakes or near the sea or in areas prone to wildfires, droughts, hurricanes or typhoons will experience significant losses in increased property values and insurance premiums. Insurers will have to raise 1-5% a year for all consumers in high-risk areas due to global warming, or cancel policy and risk changes and unexpected costs for national government assistance programs and safety nets.
Effects Of Climate Change
It is also not unreasonable to assume that property values in vulnerable areas affected by global warming will soon begin to decline by 1-3% per year as savvy buyers realize the potential risks and losses associated with this property. Real estate prices may drop unexpectedly after toxic contamination is discovered in the water and soil of New York’s Love Canal. (See this article on Buying Real Estate in a Global Warming World and Areas at High Risk of Global Warming.)
B. Fossil fuel companies and related industries cannot hide the pollution and health costs or pass on the ill effects of their products to taxpayers unscathed. Fossil fuel subsidies worth $5.3 trillion a year would soon disappear, and special carbon taxes to reduce global warming by $40 to $100 would be added to their operating costs. Fossil fuel companies will face massive divestitures, massive individual and class action lawsuits holding them accountable for global warming damage, and governments will impose new regulations and corporate tax restrictions to reduce fossil fuel use.
On the other hand, green energy will be heavily subsidized and fossil fuel generation will be relatively unprofitable It does not take into account the momentum building behind the rapidly growing movement to move away from fossil fuels.
C. Countries in the southern region will be more affected by global warming. They will experience extreme heat, rapid spread of tropical diseases, economic, social and political instability. Needless to say, this income will gradually disappear in countries whose economy depends on tourism. Ironically, there are many developed nations
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