Home
ArcticHigh altitude view of the frozen tundra in Arctic Canada. MarcelClemens /Shutterstock
.

Rapid thawing of the Arctic could trigger a catastrophic “economic timebomb” which would cost trillions of dollars and undermine the global financial system, say a group of economists and polar scientists.

Governments and industry have expected the widespread warming of the Arctic region in the past 20 years to be an economic boon, allowing the exploitation of new gas and oilfields and enabling shipping to travel faster between Europe and Asia. But the release of a single giant “pulse” of methane from thawing Arctic permafrost beneath the East Siberian sea “could come with a $60 trillion global price tag,” according to the researchers who have for the first time quantified the effects on the global economy.

Even the slow emission of a much smaller proportion of the vast quantities of methane locked up in the Arctic permafrost and offshore waters could trigger catastrophic climate change and “steep” economic losses, they say.

Continue reading:  http://www.motherjones.com/environment/2013/07/arctic-warming-could-cost-60-trillion

Related story:  Poll: Young Voters Call Climate Deniers “Ignorant,” “Out of Touch,” “Crazy”

2 thoughts on “Arctic Warming Could Cost the World $60 Trillion

  1. Climate change is a bit like religion – The deniers of reality will remain blind and will be supported and financed by corporate interests to maintain the view that noting is happening

    Like

Leave a Reply

Please log in using one of these methods to post your comment:

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