Global warming & how it hits your wallet

Global warming could cost the world up to $20-trillion over two decades for cleaner energy sources, according to a new report from the United Nations.

In the 52-page report, U.N. Secretary-General Ban Ki-moon says that global investments of $15 trillion to $20 trillion over the next 20 to 25 years may be required "to place the world on a markedly different and sustainable energy trajectory," according to an Associated Press story.

Today, the global energy industry spends about $300 billion a year in new plants, transmission networks and other new investment, according to U.N. figures, the AP noted.

Ban's report provides an overview of U.N. climate efforts to help the 192-nation General Assembly prepare for a key two-day climate debate in mid-February.

To read the full AP story, click here.

--Craig Pittman

Comments

[Melissa M]

I think it is important to keep this in perspective and I'm concerned the title here is misleading.

Let's get one thing straight: the most expensive thing we can do about global warming is nothing. The longer we wait to fix this problem the more difficult and expensive it will become.

Last time I checked oil wasn't that cheap either, and I don't think that situation is going to get much better.

Yes, clean energy is expensive, but so are fossil fuels -- in more ways than one.

I'd like to see a comparison of the social, environmental and health costs of fossil fuels -- what kind of price tag would that look like?

The benefit of many forms of clean energy is that they are self-renewing and they never run out. The feedstock (for solar, wind, and geothermal) is free. So once you get the initial infrastructure in, your costs are greatly reduced. I'll admit the first step is a big one, but it's worth it.

Fossil fuels -- by very definition are finite. We will eventually run out. So the transition to renewables is inevitable. We know we have to do it eventually, why not now?

Fossil fuels mean Florida exports energy dollars out of state or country, when we could keep that money here with investments in solar on rooftops and more efficient buildings and homes. Clean and Efficient energy infrastructure means jobs, jobs, jobs.

I'd like to see someone "offshore" putting solar on rooftops - you can't do that. Clean energy means Green JOBS here and now. That's the type of economy I want to be a part of.

I don't know about you, but I'd rather give my money to a Florida entrepreneur than to a gigantic fossil fuel company, or to Saudi Arabia for that matter.

[paminator]

Melissa says- "Let's get one thing straight: the most expensive thing we can do about global warming is nothing. The longer we wait to fix this problem the more difficult and expensive it will become."

Now there's a fistful of assumptions.

1. You assume global warming is a problem. This has not been demonstrated with observational evidence.
2. You assume that human activities are predominantly responsible for global warming. This has not been demonstrated with observational evidence.
3. You assume that CO2 emissions from combustion of fossil fuels (oil, gas, coal) is the main anthropogenic contributor to global warming. This has not been demonstrated with observational evidence.
4. You assume that making changes in human activities to reduce CO2 emissions will have an effect on global warming. This has not been demonstrated with observational evidence.
5. You assume that fixing the problem now will be less expensive than addressing it in the future. This ignores the much less expensive alternative of adapting to changes as needed.

Forgetting about global warming nonsense, I still favor an increased reliance on our own energy resources (drilling in Alaska and offshore, installing wind and thermal solar when they become cost-effective without tax and construction subsidies, building fifty 10GW nuclear plants in the US) and increasing energy imports from friendly neighbors like Canada, which already provides the largest share of our imported energy (combining oil, gas and electricity) and is just starting to develop the second largest proven oil reserves in the world!