Global warming has quickly become one of the most heated issues in America (pun intended). Rising temperatures and melting icebergs are indisputable evidence that the Earth is warming, but is this global heat wave a man-made crisis or just overblown hype?
Despite what some skeptics may believe, solving global warming now will avoid an economic disaster in the long run. From a purely economic standpoint, the benefits of replacing coal power plants with renewable energy sources will outweigh immediate costs, lower harmful emissions, and create jobs.
Doing nothing will only spell disaster. Between intense and frequent storms, widespread drought and wildfire, and dwindling agricultural output, we will have to pay for these changing conditions. Poor and island countries will be hit the hardest.
Top economists that compiled The Stern Review, an exhaustive 2007 report that explored climate change’s economic impacts, estimate that if global temperatures rise 5 to 6 degrees Celsius, average global GDP would drop 5 to 10 percent within the next century. Stabilizing current atmospheric CO2 levels would cost an average of around 1 percent annual global GDP by 2050. While the costs will be significant, mitigation is consistent with economic growth because acting now will cost less than delaying. When climate change skeptics complain of the high costs of mitigation, they are only thinking in the short-term.
Moving towards a more renewable and clean energy economy will open new markets. Low-carbon energy products, for example, are likely to be worth at least $500 billion per year by 2050. In fact, one report finds that such actions would provide 820,000 new green-collared jobs to Americans on American soil.
Next Argument
9
6
5
7
6
5
3
3
Biweekly updates on new debates and experts
Please check your email to confirm your subscription.
© 2008 Opposing Views, Inc. All Rights Reserved.
Opposing Views, Inc. is not responsible for the content posted on this website. Please view full disclaimer under Terms
Expert Verified
Link