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Report: Climate change to cost U.S. billions


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By Sharon Begley, Reuters

NEW YORK — Annual property losses from hurricanes and other coastal storms of $35 billion; a decline in crop yields of 14 percent, costing corn and wheat farmers tens of billions of dollars; heat wave-driven demand for electricity costing utility customers up to $12 billion per year.

These are among the economic costs that climate change is expected to exact in the United States over the next 25 years, according to a bipartisan report released on Tuesday. And that’s just for starters: The price tag could soar to hundreds of billions by 2100.

Commissioned by a group chaired by former New York City Mayor Michael Bloomberg, former Secretary of the Treasury and Goldman Sachs alum Henry Paulson, and environmentalist and financier Tom Steyer, the analysis “is the most detailed ever of the potential economic effects of climate change on the U.S.,” said climatologist Michael Oppenheimer of Princeton University.

The report lands three weeks after President Obama ordered U.S. regulators to take their strongest steps ever to reduce greenhouse gas emissions, including requiring power plants to cut carbon dioxide emissions to 30 percent below 2005 levels by 2030.

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Comments (29)
  1. Dan says - Posted: June 25, 2014

    Hurricane’s and coastal storms? Are these something new?
    The article is is misleading and steers the weak mind.

  2. A.B. says - Posted: June 25, 2014

    The warmest decade on record was 1930-1940. But don’t expect State Run Media to report that. The earth has been cooling ever since then. It ends up the temperature records have been altered by the government by using computer modeled temperatures instead of actual temperatures. This has been going on for more than 20 years now.

    As I always say, follow the money. Look who’s promoting the Global Warming narrative & agenda.

  3. Lisa says - Posted: June 25, 2014

    I agree AB…follow the money. And the money resides with the oil companies.

  4. Hikerchick says - Posted: June 25, 2014

    The insurance industry (the ultimate arbiters of risk) are already altering whom they will insure and how much it will cost. You can search both the findings of the insurance industry and the Pentagon report on global warming online.

    Don’t fool yourselves. This is coming at us in a big way. Its that peaky thing called science and whether a lot of people “believe in it” or not, its on its way. The Pentagon report which researched areas globally that are anticipated to be strife zones as warming accelerates, was done years ago as were a lot of insurance studies. You may not “believe” in global warming but the big money boys do and they’re planning to protect their investments.

  5. hmmm.... says - Posted: June 25, 2014

    Nero fiddled while Rome burned. Not really but the term is used to remind people that those who deny what’s going on, due to entrenched belief systems, sheer idiocy or arrogance ultimately do damage to us all.

  6. Old Long Skiis says - Posted: June 25, 2014

    Hikerchick, Yes, when the full impact of climate change and California’s drought peaks, we are in for some major problems. Extreme fire danger, especially for those of us that live in a forest, as well as those south, that live in dry grasslands.
    Our creeks and rivers will dry up so little water for agriculture or cattle ranches down stream.
    With most resavoirs hovering around 50% capacity and with a hot and dry summer predicted, it doesn’t look good.
    So stock your pantry now before prices go crazy and be fire safe!!!! OlS

  7. Hikerchick says - Posted: June 25, 2014

    Therein lies the problem. I’m sure people once felt the same way about smallpox.

  8. copper says - Posted: June 25, 2014

    Dog, you could not be more wrong about our inability to affect Climate Change. As all faithful Pastafarians realize, Climate Change was driven by the huge world wide reduction in the pirate population. If we restore piracy to its proper place in the world, we will stop Climate Change in its tracks.

    Kae is to be commended for her small act of pirating 9 square feet of land away from CTC; any contribution to reducing global warming is appreciated by us all.

    http://www.venganza.org/about/

    Climate Change also contributed to my originally posting this in the wrong thread.

  9. A.B. says - Posted: June 25, 2014

    Let me sum up the Global Warming narrative – oil is the fuel of freedom. It has transformed humanity from “Little House on the Prairie” to where we are today as a society. Petroleum products make your life better. In order to control society, statists seek to control through taxation and regulation the use of petroleum products, which branch out to every single part of your life.

    There is NO conclusive proof whatsoever that the use of petroleum products has had any affect on the world’s temperature. That big yellow orb you see in the sky has infinitely more impact on our climate than anything else, and the heat of earth’s core is a distant second.

    There are icebergs floating around on Lake Superior right now. People across the nation and throughout the world have noticed that there’s no warming going on, but rather, it’s been bitter cold in recent years. This debunks the entire Global Warming narrative.

    So now, the new narrative is that Global Warming will cause economic chaos. The last time a hurricane hit the U.S. was 8 years ago. I know, that’s due to Global Warming. That and the icebergs all over the Great Lakes right now, all due to Global Warming. Antarctic icepack, 50% above the all time average right now. In fact, the ice pack around Antarctica and in the Arctic has been increasing over the past 35 years.

    The entire Global Warming narrative is all about government control and taxation. Economic impact is just the latest spin on the narrative because people recognize that the entire Global Warming hoax is nothing but a bunch of bunk.

  10. cosa pescado says - Posted: June 25, 2014

    “The warmest decade on record was 1930-1940. ”
    I haven’t looked into this, but given your reputation, I call BS.
    “There are icebergs floating around on Lake Superior right now. ”
    ” Antarctic icepack, 50% above the all time average right now.” (probably BS too)

    Define climate.
    Then we can move on to what data on polar ice is best used for.

    No one takes you seriously.

    “Climate change? Do you REALLY think WE have the power to do anything about it?”
    Except people who think the earth is a few thousand years old.
    Let me rephrase that.

    No intelligent people take you seriously.

  11. BitterClinger says - Posted: June 25, 2014

    Typical vitriol from señor fish. Just because you’ve been proved wrong based on facts, there’s no need for name calling pal.

  12. Hikerchick says - Posted: June 25, 2014

    Sounds like we have a couple of PhD climate scientists weighing in here.

  13. cosa pescado says - Posted: June 25, 2014

    Those ‘facts’ are BS.
    Still won’t define climate? Why?
    Because you know it will expose you as being really really dumb.

    Will full ignorance seems to be a trademark of the local conservatives.

  14. hmmm.... says - Posted: June 26, 2014

    ‘oil is the fuel of freedom…’ What a crock o’doodoo masquerading as a bowl of soup(kinda like AB himself). As we all know, or at least should know, exercising freedom without behaving responsibly is narrow-minded and piggish(kinda like AB, and Bitter, and Dogula).

  15. rock4tahoe says - Posted: June 26, 2014

    AB. 2001-2010 is the hottest Global Decade on both land and sea since 1850; when records started being kept. Oceans are rising. Glaciers are melting. Greenland’s Ice Sheets are melting at about 50-60 Cubic Miles per year. CO2 Levels are over 400ppm Globally.

    Dogula. We have split Atoms, Decoded DNA, Landed Men on the Moon; Yes, we can effect positive change and reverse Global Warming.

    AB. Coal/Oil/Gas are NOT “fuels of freedom.” In just 1 Month/30 days, enough energy from the Sun falls on the Earth to replace all the Oil/Coal & Gas ever burned or that will every be burned. That is a rate of 1,000 Watts per Sq Meter at high noon per day. The first solar powered generator was displayed at the Paris Expo in 1878. Unfortunately, JD Rockefeller founded Standard Oil in 1870.

  16. cosa pescado says - Posted: June 26, 2014

    Dog also thinks that it is impossible for humans to be the cause, said once that it is ‘arrogant’ to think that we can alter the earth.
    The Great Bearded Life Guard made everything a few thousand years ago, thus, we can’t change it.

  17. Dogula says - Posted: June 27, 2014

    *sigh*
    You reactionary leftists. So afraid of a little change. The history of the universe is change. Adapt. Evolve. It’s the way of the world. Be brave.

  18. hmmm.... says - Posted: June 27, 2014

    Evolve???Dogula believes in EVOLUTION?!?! Some sinister(left handed) conspiracy to schmear her good name, I’m sure.

    That or she’s being condescending.

  19. Dogula says - Posted: June 27, 2014

    What, Hmmm, do you believe all the lies the fish tells about me and my beliefs? Really? His word is gospel to you?
    Of course I believe in evolution. You can see it every day. That doesn’t mean that I necessarily believe humans evolved from apes, but that’s just one aspect.
    I do wish, though, that you’d address the statement instead of continuing the insults.

  20. hmmm.... says - Posted: June 27, 2014

    stop crying. we both know how to play the veiled insult game. deal with it. it’s the way of the world. be brave.

  21. cosa pescado says - Posted: June 27, 2014

    ‘That doesn’t mean that I necessarily believe humans evolved from apes, but that’s just one aspect.’

    So dumb.

  22. Dogula says - Posted: June 28, 2014

    “The sheer probabilities of human beings existing on earth by random mutations is impossible. No one would ever bet their life on those probabilities – if you knew them! Then take in the cosmological factors needed to support life on earth and you will know mathematically that human beings and life did not randomly happen. We were designed, but by whom and for what reason? These are the questions that truly perplex us. I do firmly believe that our designer (given the complexity of our system) is very intelligent and that this designer is most definitely an Anarchist!”
    ~Jason Williams

  23. rock4tahoe says - Posted: June 29, 2014

    Dog. Your quote from Jason Williams is intelligent design bunk.

  24. Dogula says - Posted: June 29, 2014

    Rock. So you claim. I hear no intelligent debate.

  25. A.B. says - Posted: June 30, 2014

    Hold on a minute Dog – you missed a real winner reported over the weekend by NASA. The Antarctic ice pack was reported to be not only an all time record at 2,000,000 square km, but it is double the recorded average for this date. So much for the polar ice caps melting.

  26. cosa pescado says - Posted: June 30, 2014

    That is interesting stuff AB, but it not on the same time scale as climate. See, they are different because of the time scale. The concept goes back to basic statistics, sample vs population.
    You knew that right, so why the confusion.

    I wouldn’t read into dawg’s link at all, considering that the person at the center of it is the discredited Anthony Watts. He cites himself as the source on the graph… that is really sketchy.
    It fits the political narrative you want to believe, and Watts is *paid* to support. So the discussion of what the trendline is doing is completely lost on you. The big picture stuff, not even considered.
    People smarter than you keep telling you lies, and you keep believing them. Have some self respect.
    Then again, if you can convince someone the earth is a few thousand years old, you can convince them of anything.

    I just noticed something in that article, which Watts continually fails. Significant figures and mention of precision and error bars. No real discussion of the data set, he just dismissed the notion of population statistics. If you passed high school science, you should know exactly what concept I am talking about.
    I think he is taking the same approach as the email scammers. Leave in the blatant errors, the people who don’t catch them are your target audience, easier marks.

  27. rock4tahoe says - Posted: July 2, 2014

    Um Dog. “Probabilities of human beings existing on earth by random mutations is impossible.” WRONG! Totally possible. ex.

    Look at Dogs or Canis lupus familiaris. Ten Thousand years ago, they did not exist. All Dogs are descendents of Canis lupus or the Grey Wolf. Compare a Grey Wolf to say a Pekingese. All done in just 10,000 years. Now add say a billion years or two. See how evolution works now? And there are more examples as well.

    BTY. Anthony Watts appears to be the source for your NOAA hottest year link. I too am not finding any other source that does not resolve to Watts.