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  • Tuesday, May 8, 2018

    Where U.S. Climate Change Will Hit The Home

    Global warming will depress economic growth in Trump country; It’s global warming that will hurt the economy in red states, not a carbon tax.

    Dana Nuccetelli, 7 May 2018 (UK Guardian)

    “…Economies thrive in regions with an average temperature of around 14°C (57°F). Developed countries like the US, Japan, and much of Europe happen to be near that ideal temperature, but continued global warming will shift their climates away from the sweet spot and slow economic growth, [according to a recent working paper from the Federal Reserve Bank of Richmond. And the states with the hottest summertime temperatures] voted for Donald Trump in 2016…[The paper concludes that if we meet the Paris target of staying below 2°C global warming, US economic growth will only slow by about 5 to 10%. On our current path, including climate policies implemented to date (which would lead to 3–3.5°C global warming by 2100), US economic growth would slow by about 10 to 20%...[With the higher temperature], US economic growth would slow by about 12 to 25% due to hotter temperatures alone…As the economics research shows, failing to curb global warming will certainly lead to less economic growth. Climate policies could hamper economic growth, but legislation can be crafted to address that concern…” click here for more

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