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Archive for June 6th, 2008

Great new news on the damage estimate. The tab will run to 45 Trillion dollars. For the record, that is:

$45,000,000,000,000 (28.86 Trillion Euros)

Luckily, it is rumored that the UN already backs this assessment but is insisting that the US pay no more than 83% of the tab. This is a 7% reduction from anything else the US has chipped in for in the past. Great news folks! It means your taxes will only go up by 37% compounded quarterly.

I’m going to post this link from yesterday again, just because it’s valid. Kudos to my boss who passed it on to me.

[Yesterday’s Link]

Maybe NASA should put up another satellite and cherry pick some more data to prove that it is bad?

Wow, if global warming doesn’t kill us (even though the SLC swears we deserve it), then it looks like water will kill us by dint of it’s absence. Let’s put this in a cynical kind of perspective: We are all going to die. Now, doesn’t that help keep you from hyperventilating until you barf on your Gucci loafers?

And now, on to the article that should give us all hope. It’s just an excerpt, and will take you just to the point of violent nausea but will not push you over the edge. Maybe.

$45 trillion needed to combat warming

TOKYO – The world needs to invest $45 trillion in energy in coming decades, build some 1,400 nuclear power plants and vastly expand wind power in order to halve greenhouse gas emissions by 2050, according to an energy study released Friday. The report by the Paris-based International Energy Agency envisions a “energy revolution” that would greatly reduce the world’s dependence on fossil fuels while maintaining steady economic growth. “Meeting this target of 50 percent cut in emissions represents a formidable challenge, and we would require immediate policy action and technological transition on an unprecedented scale,” IEA Executive Director Nobuo Tanaka said. A U.N.-network of scientists concluded last year that emissions have to be cut by at least half by 2050 to avoid an increase in world temperatures of between 3.6 and 4.2 degrees above pre-18th century levels. Scientists say temperature increases beyond that could trigger devastating effects, such as widespread loss of species, famines and droughts, and swamping of heavily populated coastal areas by rising oceans. Environment ministers from the Group of Eight industrialized countries and Russia backed the 50 percent target in a meeting in Japan last month and called for it to be officially endorsed at the G-8 summit in July. The IEA report mapped out two main scenarios: one in which emissions are reduced to 2005 levels by 2050, and a second that would bring them to half of 2005 levels by mid-century. The scenario for deeper cuts would require massive investment in energy technology development and deployment, a wide-ranging campaign to dramatically increase energy efficiency, and a wholesale shift to renewable sources of energy. Assuming an average 3.3 percent global economic growth over the 2010-2050 period, governments and the private sector would have to make additional investments of $45 trillion in energy, or 1.1 percent of the world’s gross domestic product, the report said. That would be an investment more than three times the current size of the entire U.S. economy.

source: http://news.yahoo.com/s/ap/20080606/ap_on_bi_ge/japan_iea_climate_change

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