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36 mins ago - All told, the report says, climate change could slash up to a tenth of ... will knock as much as 10 per cent off the size of the U.S. economy by ...

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49 mins ago - Breaking News: Climate change could slash the size of America's economy by 10percent by 2100 unless major action is taken, a federal ...

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Aug 28, 2018 - Climate change is damaging the US economy's long-term growth prospects, ... US economic growth may be reduced by as much as one-third by 2100, the ... as much as 10% of the historical average annual growth rate of 4%.

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Climate change will take a bite from U.S. economy, report finds

By CORAL DAVENPORTThe New York Times
KENDRA PIERRE-LOUIS

Fri., Nov. 23, 2018

WASHINGTON—A major scientific report issued by 13 federal agencies Friday 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 per cent off the size of the U.S. 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 U.S. President Donald Trump’s agenda of environmental deregulation, which he asserts will spur economic growth.

In this file photo taken on November 15, 2018, a burned neighborhood is seen in Paradise, California. A major U.S. scientific report warned of the dire consequences of climate change on the country’s economy on Friday. (JOSH EDELSON / AFP/GETTY IMAGES)

Trump has taken aggressive steps to allow more planet-warming pollution from vehicle tailpipes and power plant smokestacks, and has vowed to pull the United States out of the Paris Agreement, under which nearly every country in the world pledged to cut carbon emissions.

But 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.

“There is a bizarre contrast between this report, which is being released by this administration, and this administration’s own policies,” said Philip B. Duffy, president of the Woods Hole Research Center.

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.

The report could become a powerful legal tool for opponents of Trump’s efforts to dismantle climate change policy, experts said.

The report puts the most precise price tags to date on the cost to the U.S. economy of projected climate impacts: $141 billion (U.S.) from heat-related deaths, $118 billion from sea level rise and $32 billion from infrastructure damage by the end of the century, among others.

The authors put forth three main solutions: putting a price on greenhouse gas emissions, establishing government regulations on how much greenhouse pollution can be emitted and spending public money on clean-energy research.

Intuitive fred888

Friday, November 23, 2018

Climate Change could slash the size of the U.S. economy by 10 by 2100