October 16, 2013

WELL, YOU CAN’T ARGUE WITH SCIENCE. YOU DON’T WANT TO BE A SCIENCE-DENIER. An unbiased economic scorecard shows that global warming provides a net 1.3% GDP gain so far. “It will come as a big surprise that climate change from 1900 to 2025 has mostly been a net benefit, rising to increase welfare about 1.5% of GDP per year. Why? Because global warming has mixed effects and for moderate warming, the benefits prevail. The increased level of CO₂ has boosted agriculture because it works as a fertilizer and makes up the biggest positive impact at 0.8% of GDP. Likewise, moderate warming avoids more cold deaths than it incurs extra heat deaths. It also reduces the demand for heating more than increases the costs of cooling, totaling about 0.4%.”

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