Arctic methane release could cost economy $60 trillion -study

[one...two...tree 2,762]

By Nina Chestney

LONDON, July 24 (Reuters) - A release of methane in the Arctic could speed the melting of sea ice and climate change with a cost to the global economy of up to $60 trillion over coming decades, according to a paper published in the journal Nature.

Researchers at the University of Cambridge and Erasmus University in the Netherlands used economic modelling to calculate the consequences of a release of a 50-gigatonne reservoir of methane from thawing permafrost under the East Siberian Sea.

They examined a scenario in which there is a release of methane over a decade as global temperatures rise at their current pace.

They also looked at lower and slower releases, yet all produced "steep" economic costs stemming from physical changes to the Arctic.

"The global impact of a warming Arctic is an economic time-bomb," said Gail Whiteman, an author of the report and professor of sustainability, management and climate change at the Rotterdam School of Management, part of Erasmus University.

"In the absence of climate-change mitigation measures, the model calculates that it would increase mean global climate impacts by $60 trillion," said Chris Hope, a reader in policy modelling at the Cambridge Judge Business School, part of the University of Cambridge.

That approaches the value of the global economy, which was around $70 trillion last year.

The costs could be even greater if other factors such as ocean acidification were included, the study said, or reduced to some $37 trillion if action is taken to lower emissions.

As much as 80 percent of the costs would likely be borne by developing countries experiencing more extreme weather, flooding, droughts and poorer health as the Arctic melt affects the global climate, the paper said.

http://www.reuters.com/article/2013/07/24/arctic-methane-idUSL6N0FT1PU20130724?feedType=RSS&feedName=rbssEnergyNews&rpc=43

Edited July 25, 2013 by Lincolns mullet

[Jacque67 7,328]

I wonder which country will have to foot the bill?

[himher 634]

By Nina Chestney

LONDON, July 24 (Reuters) - A release of methane in the Arctic could speed the melting of sea ice and climate change with a cost to the global economy of up to $60 trillion over coming decades, according to a paper published in the journal Nature.

Researchers at the University of Cambridge and Erasmus University in the Netherlands used economic modelling to calculate the consequences of a release of a 50-gigatonne reservoir of methane from thawing permafrost under the East Siberian Sea.

They examined a scenario in which there is a release of methane over a decade as global temperatures rise at their current pace.

They also looked at lower and slower releases, yet all produced "steep" economic costs stemming from physical changes to the Arctic.

"The global impact of a warming Arctic is an economic time-bomb," said Gail Whiteman, an author of the report and professor of sustainability, management and climate change at the Rotterdam School of Management, part of Erasmus University.

"In the absence of climate-change mitigation measures, the model calculates that it would increase mean global climate impacts by $60 trillion," said Chris Hope, a reader in policy modelling at the Cambridge Judge Business School, part of the University of Cambridge.

That approaches the value of the global economy, which was around $70 trillion last year.

The costs could be even greater if other factors such as ocean acidification were included, the study said, or reduced to some $37 trillion if action is taken to lower emissions.

As much as 80 percent of the costs would likely be borne by developing countries experiencing more extreme weather, flooding, droughts and poorer health as the Arctic melt affects the global climate, the paper said.

http://www.reuters.com/article/2013/07/24/arctic-methane-idUSL6N0FT1PU20130724?feedType=RSS&feedName=rbssEnergyNews&rpc=43

Global temperatures are falling. You need to pull yourself out of the 90's. Al Gore has faded to irrelevance.

Edited July 26, 2013 by himher

[lostinblue 1,989]

I would say time to start building an ark .... Some people say there was never an ark....... what to do..... what to do

[himher 634]

Mullet referred to the Nobel committee for raising awareness of global temperature increases that stopped 10 years ago.

[Jacque67 7,328]

Global temperatures are falling. You need to pull yourself out of the 90's. Al Gore has faded to irrelevance.

I bet you didn't graduate from an Ivy League school.

[Karee 4,190]

I think all that Methane is from cow farts.

[GandD 5,966]

I would say time to start building an ark .... Some people say there was never an ark....... what to do..... what to do

You could do what they did in that movie.

[spookyturtle 9,465]

I wonder which country will have to foot the bill?

France.

[himher 634]

I bet you didn't graduate from an Ivy League school.

http://notrickszone.com/2013/04/26/joe-bastardi-on-global-temperature-the-fall-is-very-very-plain-to-see-youll-see-this-trend-continue/

No need for an Ivy League education to read a trend. There were 11 years of stagnant temperatures and the last 4 years global temperatures have been falling.

Would you like more sources genius? Add your lack of knowledge of global temperatures to your lack of knowledge of guy buyback programs.

Edited July 26, 2013 by himher

[SMOKE 1,426]

http://notrickszone.com/2013/04/26/joe-bastardi-on-global-temperature-the-fall-is-very-very-plain-to-see-youll-see-this-trend-continue/

No need for an Ivy League education to read a trend. There were 11 years of stagnant temperatures and the last 4 years global temperatures have been falling.

Blasphemer

[I AM NOT THAT GUY 5,715]

I wonder which country will have to foot the bill?

Why did you bump Steven's thread? It would be dead and buried by now.

[Jacque67 7,328]

France.

Mais non! It will be America.

[Jacque67 7,328]

Why did you bump Steven's thread? It would be dead and buried by now.

Cos this is more important than GZ!

[I AM NOT THAT GUY 5,715]

Cos this is more important than GZ!

Only if you plan on living in Europe. For most of the civilized planet, a little global warming is a good thing.