2014-06-24. Bipartisan Report Tallies High Toll on Economy From Global Warming.

posted Jun 24, 2014, 11:35 AM by Alan Gould

For GSS Climate Change chapter 9. Excerpt: More than a million homes and businesses along the nation’s coasts could flood repeatedly before ultimately being destroyed. Entire states in the Southeast and the Corn Belt may lose much of their agriculture as farming shifts northward in a warming world. Heat and humidity will probably grow so intense that spending time outside will become physically dangerous, throwing industries like construction and tourism into turmoil. That is a picture of what may happen to the United States economy in a world of unchecked global warming, according to a major new report released Tuesday by a coalition of senior political and economic figures from the left, right and center, including three Treasury secretaries stretching back to the Nixon administration. ...The former Treasury secretaries — including Henry M. Paulson Jr., a Republican who served under President George W. Bush, and Robert E. Rubin, a Democrat in the Clinton administration — promised to help sound the alarm. All endorse putting a price on greenhouse gases, most likely by taxing emissions. ...“I have come to believe that climate change is the existential issue of our age,” Mr. Rubin said. “I believe that investors should insist that companies disclose their risks, including the value of assets that could be stranded.” He was referring to warnings that assets worth trillions of dollars are at risk of being stranded, or rendered obsolete, including vast coal and oil deposits that will most likely have to be left in the ground if dangerous levels of global warming are to be prevented.... http://www.nytimes.com/2014/06/24/science/report-tallies-toll-on-economy-from-global-warming.html. By Justin Gillis, The New York Times.

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