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Arctic melt damage bill put at $65 trillion

2013-07-26 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Sydney Morning Herald: Arctic permafrost melts. Methane frozen on the sea bed for thousands of years is starting to bubble to the surface as ice thaws. Photo: Unboxed Media The thawing of permafrost in one region of the Arctic will cause damage worth $65 trillion, or 80 per cent of the entire global economy last year, new research suggests. The oceans have been slowly warming in recent decades and methane frozen on the sea bed for thousands of years is starting to bubble to the surface in plumes. These ''methane pulses''...

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Methane Released by Arctic Melting Could Cost the World $60 Trillion in Climate Extremes

2013-07-25 23:02:00| Climate Ark Climate Change & Global Warming Newsfeed

Nature World News: The costs resulting from methane released by melting Arctic ice could equal $60 trillion, or roughly a year of global economic output, according to a paper published Wednesday in the journal Nature. Trapped within the East Siberian Arctic Shelf is an estimated 50 gigatons of the known greenhouse gas that is expected, according to the scientists, to be released either suddenly or gradually over the next half century based on how quickly the ice melts. Either way, the researchers, who hail from...

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Arctic methane escape could cost $60 trillion

2013-07-25 17:41:00| Climate Ark Climate Change & Global Warming Newsfeed

Grist: An almighty belch is building up deep in the belly of the Arctic, and its going to cost the world a pretty penny when it rips. As the Arctic continues to melt, a 50-gigatonne reservoir of methane trapped in permafrost beneath the East Siberian Sea will be released - perhaps steadily over five decades or perhaps during one sudden grandfatherly burp - and that will cause an estimated $37 trillion to $60 trillion worth of damage. So say researchers in a commentary published Wednesday in the journal...

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Arctic Warming Could Cost Upwards of $60 Trillion

2013-07-24 18:01:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate Central: The worldwide impacts of a rapidly warming Arctic could cost the global economy an estimated $60 trillion, nearly equal to the entire global economy in 2012, according to a new study. That report, published Wednesday in the journal Nature, is the first to analyze the potential economic costs of rapid Arctic warming. The study bluntly warns that the tendency for policymakers to focus solely on the benefits of an increasingly open Arctic Ocean -- like increased mining, oil and gas drilling, and...

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Huge methane belch in Arctic could cost $60 trillion

2013-07-24 12:59:00| Climate Ark Climate Change & Global Warming Newsfeed

New Scientist: A sudden methane burp in the Arctic could set the world back a colossal $60 trillion. Billions of tonnes of the greenhouse gas methane are trapped just below the surface of the East Siberian Arctic shelf. Melting means the area is poised to deliver a giant gaseous belch at any moment" - one that could bring global warming forward 35 years and cost the equivalent of almost a year's global GDP. These are the conclusions of the first systematic analysis of the economic cost of Arctic melting,...

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