Global Warming Research Paper

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Global Warming: Its effects on the Economy

Vincent Colletti

Professor Shakely
English Composition II
July 1, 2008

THESIS: From the findings of experts on Global Warming and Climatology, it can be concluded that Global Warming has a direct effect on our current global economy and the instability of the future. Introduction

I. Background
A. The study of Environmental Economics
B. Economic issues and relations to past and future global warming estimates II. The effects on GDP
A. Increase of natural disasters
B. Impact on agriculture
C. Rise in health care cost
1. Heat waves
2. Spread of disease
D. Further subjugation those who have a lower standard of living 1. Displacement
III. Opposing arguments
A. Efforts to prevent global warming are to costly
B. Low Winter mortality rate
C. Possible Profit lies in the Arctic
IV. What is being done to counteract climate change’s affects and plans for the future A. Kyoto Protocol
1. Acceptance/Refusal
2. Funds created
B. “Green Collar” Jobs and Alternative Energy Sources 1. Wind/Water Power
2. Fuel efficient automobiles
3. Carbon Capture
Global Warming: It’s affects on the economy
In considering climate change policies, the fundamental trade-off principal that society faces is between, consumption today and consumption in the nearing future. It is a question of economics; the return on this environmental investment is lower damages and thus higher consumption in the future. Now is the time that nations must decide whether or not they will make investments in understanding the economics of the environment and act accordingly to slow the climate change over the coming centuries. According to the National Bureau of Environmental Research (NBER) environmental economics is defined as “… studies of the economic effects of national or local environmental policies around the world, including effects on pollution, research and development, physical investment, labor supply, economic efficiency, and the distribution of real income.” It is the desirable option to have policies that are economically efficient so that the environmental objectives can be achieved in a least cost approach, but then the question arises how long should we wait until an optimal climate-change policy is fabricated? [pic]

This chart explains the forecasted increase in Earth’s average surface temperature according to a series of climate change situations. It is, of course, impossible to predict with certainty what permanent economic effect global warming will have, but many economists and scientists agree the past and present effects can serve as a guide as to what can be expected. From the findings of experts on Global Warming and Climatology, it can be concluded that Global Warming has a direct effect on our current global economy and the instability of the future.

Although scientists generally agree on the probable rise in the average global temperature over the next century foretelling the change in a specific region is more complex. Due to the fact that the forecast models used in determining global warming’s affects are just that, models, they cannot be taken as fact and are subject to change. According to the Stern Review, a report created by the former Chief Economist of the World Bank Nicholas Stern, “the cost of climate change could be equivalent to a permanent loss of around 0-3% in global world output” (Stern ix). This would take humans into unknown territory which is the essential factor in the Stern Review which develops the basis that climate change will affect everyone, not just those whose greenhouse gas emissions are elevated. The report conveys the costs of extreme weather conditions could decrease the “…world Gross Domestic Product (GDP) by .5-1% per annum...” (Stern viii) before the middle of...
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