Page 1 of 9 The Economic Effects of Global Warming Friday, May 19th, 2011. CIA 4U1 Mr. Phelan Page 2 of 9 The Economic Effects of Global Warming Today, global warming is becoming more and more volatile to the earth and has caused economic effects. Billions and billions of dollars have been lost due to the outcomes of global warming and its many causes. Climate change is evident and continues to change weather patterns, which cause negative outcomes. The biological systems, natural disasters, and pandemics are all causes of global warming and have hurt the economy. There regulations that can help push the economy in the right direction, but individuals must do their part in order for it to be a success. The process of climate change has had a negative economic impact on the world’s economies. The climate on our earth is continuing to rise and as a result, our biological systems are being affected. The biological systems include: croplands, forests, oceans, and fresh water. All of these resources benefit our economy and without them there would be huge economic problems. These resources are a source of income and without them, many different industries would be affected. Global warming has had a negative impact on our biological systems and has definitely proven to be an economic problem. As a result of warmer temperatures, agricultural sectors are being affected. The warmer temperatures decrease the amount of arable land and cause a decrease in soil moisture. Global warming has affected our weather and has resulted in the lack of rainfall some areas receive. Without rainfall, agriculture is impossible and droughts will lead to more loss of land. This has happened in the past with the Great Depression in the 1930’s.1 Agriculture was dry and areas received little rainfall which caused economic loss to the economy. Droughts are becoming more and more evident across the world which has 1 "Global Warming: The Economic Effects." Global Warming Causes & Global Warming Effects. 2007. Web. 19 May 2011. <http://globalwarming.solveyourproblem.com/global-warming-economic-effects.shtml>. Page 3 of 9 resulted in economic loss. Croplands supply food and raw materials to our economy. Fibre, vegetable oil, and corn are just a few of the resources that are supplied by agriculture. The food industry; especially vegetation industry, relies on agriculture to give them a source of income. Prices of food are increasing because there is less supply. Since 1970, drought conditions have doubled and heat waves have reduced the grain harvest in places like India, Canada, and the United States. Climate change is having a negative impact on our agriculture sectors, which is resulting in economic problems. People are beginning to experience food scarcity and furthermore noticing a market that is becoming unstable, less efficient, and more expensive. Food scarcity is becoming more evident which poses as an economic problem. Industries are losing more and more money which does not seem to be a good thing for our economy’s future. 2 The forest industry is very important to our world because it supplies us with raw materials that we use every day. For instance, fuel, lumber, and paper are valuable assets that come from trees. 3 With the increase of temperatures and lack of rainfall in some areas, trees will not continue to grow. The future of the forest industry is in great danger due to increasing temperatures. Logging industries and paper companies desperately rely on trees because that is essentially their whole industry. Huge incomes are gained through the forest industry and also these industries provide services to people or they supply people with raw materials that they use. Trees are very valuable to our economy and have a very strong market. 2 Geographic, National. "Global Warming Effects Information, Global Warming Effects Facts, Climate Change Effects - National Geographic." Environment Facts, Environment Science, Global Warming, Natural Disasters, Ecosystems, Green Living - National Geographic. 2007. Web. 19 May 2011. <http://environment.nationalgeographic.com/environment/global-warming/gw-effects/>. 3 Socha, Thomas M. "The Potential Effects of Global Warming." Www.healthandenergy.com. 23 Feb. 2010. Web. <http://healthandenergy.com/potential_effects_of_climate_change.htm>. Page 4 of 9 Lastly, oceans and fresh water can both be linked to economic losses in our world’s economies. With climate change there are increased rainfall in certain areas and increased temperatures in others. When there are more heavy storms there is more chance that there will be floods associated. Floods and tsunamis prove to be huge problems because of the economic damage they cause. Increasing temperatures are not good because the warmer it gets the warmer water gets. When water gets warmer it begins to expand and could potentially move towards coastal areas where they can cause economic damage. Ice glaciers are melting due to warmer temperatures and some areas will face shortage of fresh water due to this. The Himalayas get forty percent of their fresh water from the rivers flowing in the glaciers. Over time the glacier have melted which caused a shortage of fresh water supply. 4 The economy relies on these biological systems for money supply and to overall increase the efficiency of the economy. Climate change is proven to be a threat and has affected many industries such as: agriculture, forestry, and oceans/fresh water. Something must be done to help stabilize the economy and to prevent climate change from having such a negative impact on our economy. These biological systems; due to climate changes, can create natural disasters and diseases that will continue to negatively impact our world’s economies. The process of climate change has had a negative economic impact on the world’s economies. Natural disasters and pandemics are both affected by global warming and have had an economic impact on our world’s economies. Natural disasters are terrible and result in millions of dollars in damages. Many diseases have been introduced due to rising temperatures. This causes a decrease in population and less production in our economy. Natural disasters include: hurricanes, tsunamis’, earthquakes, and floods. These disasters can potentially lead to a huge economic loss and have proven to do so in the past. Not only is the economy 4 An Inconvenient Truth. Perf. Al Gore. Documentary. Page 5 of 9 affected by the destruction of homes, businesses, and companies, but by the death of human beings. Many people die from natural disasters and these people are business employees, home providers, and otherwise important for our economy to function. With a decrease in population there would be less production in the world’s economy.5 Natural disasters cause major setbacks in economies and to this day these economies are still trying to pick themselves back up. On August 29th, 2005, New Orleans faced a treacherous hurricane called “Katrina”. This natural disaster caused around 25 billion dollars of property damage. If you are including the economic losses, it faced around 100 billion dollar loss! The hurricane was a nightmare for the people and the economy. Thousands of people lost jobs and lost their homes as well. Many companies and businesses were destroyed as a result of Hurricane Katrina. Some of these companies were just being built and as a result, were uninsured. Many of these companies were investments as well, which caused the suffering of the market. There was loss in production due to the destruction of factories as well. The economy sunk to the bottom and left people with nothing. Other states and countries lent their support to New Orleans by putting money into the economy and the government even lowered interest rates. Luckily, the high rise buildings were able to withstand the flooding that occurred after the hurricane. Furthermore, many people looked at the hurricane as a time to rebuild into a better and more efficient economy. The building of more modern structures such as houses, buildings, and factories would increase the wealth of the economy.6 This would take a lot of time and many people today are still suffering from the damages of the hurricane. Global warming was a key factor for the creation of the Hurricane but how? Well, as the temperature increases so does the water and the sea level. Sea levels rise because of the melting of ice due to warmer temperatures and as a result, the oceans become increasingly warmer. When water gets warmer 5 Uzawa, Hirofumi. Economic Theory and Global Warming. Cambridge: Cambridge University, 2003. Web. 6 McMahon, Tim. "Hurricane Katrina:The Economics of Disaster." Www.inflationdata.com. 15 Sept. 2005. Web. <www.inflationdata.com/inflation/Inflation_Articles/Hurricane_Inflation.asp>. Page 6 of 9 it causes it to expand and rise and leads to strong storm. This is the reason hurricanes like Katrina existed. Natural disasters continue to be present in the world and we can confidently say climate change is one of the reasons for that.7 Pandemics have had an effect on global warming. Some diseases are known to spread around a population and can lead to sickness or even death. Some are minor and can be cured by medicine. The diseases that can’t be cured are very infectious and can be disastrous. Global Warming causes climate increases and longer warm conditions, which is why there are more infectious species being able to spread diseases. Princeton university researcher Andrew Dobson said, "Climate change is disrupting natural ecosystems in a way that is making life better for infectious diseases." 8 As global warming continues to happen there will be more people affected by diseases. Mosquitoes exist in warm weather conditions. These insects are known to carry diseases and infect people. With longer warmer conditions they are able to infect more people with diseases such as West Nile. This virus appears in almost all parts of the world and is certainly a threat to our world. From 2002- 2009 there were 42 deaths due to West Nile. In America 4156 people were diagnosed with West Nile and 208 of them died. There is still no vaccine for West Nile and continues to be a threat to our world.9 The death of human beings due to these diseases is horrible and it affects our economy greatly. Just like our natural disasters, pandemics decrease the population which decreases production. When production decreases the economy moves less efficiently. Another economic effect of these pandemics is that they cost money to research. More and more money will be spent on curing the diseases and finding 7 An Inconvenient Truth. Perf. Al Gore. 2006. Documentary. 8 Lazaroff, Cat. "Warming Climate Spawns Disease Epidemics." Www.ens-newswire.com. 2002. Web. 9 "West Nile Virus: Facts and Figures." CBC News. Http://www.cbc.ca. 10 Sept. 2009. Web. <http://www.cbc.ca/news/health/story/2009/09/10/f-west-nile-virus-background-facts-figures.html>. Page 7 of 9 vaccines for them as well. That money could be going towards the economy but diseases cannot be ignored and must be treated. The problem is some of these diseases are caused by a result of warming temperatures. Many diseases can be linked to global warming and have and will continue to affect our economy. The effects of natural disasters and pandemics have evidently affected the world’s economies in a negative way. Natural disasters ultimately destroy property and cause the area facing the disaster to be in an economic problem. Pandemics decrease our population and cause our economy to lose money and work less efficiently. Climate change has been an accomplice to these disasters and will continue to have a negative impact on our world’s economies unless we have policies to help prevent the causes of global warming. There are many things people can do to help slow global warming down. If the economy continues to pollute the air then things will not get better. Economic problems will continue to arise and some companies and industries will be affected. Governments should regulate companies and industries by developing more clean energy resources which is basically energy produced by renewable resources. Energy coming from water, wind, and sun will keep the earth more clean and will not contribute to climate change. The United States had 20.7 billion dollars of global clean energy spending in 2009. In 2010, Christopher Martin said, “China’s dominance in clean energy was fueled by a 39 percent increase in investment to a record $54.4 billion last year. That made it the world’s largest manufacturer of wind turbines and solar modules, and helped it overtake the U.S. in terms of installed renewable energy capacity.”10 The United States are unable to sell their cars in China because of environmental concerns. 10 Martin, Christopher. "Low-Carbon World Needs $500 Billion a Year to Slow Warming, WEF Says." Home - Gary Null - Your Guide To Natural Living. 2010. Web. 19 May 2011. <http://www.garynull.com/home/christopher-martinlow-carbon-world-needs-500-billion-a-year.html>. Page 8 of 9 The more efficient cars are selling like Toyota and Honda rather than GM and Ford. Wind turbines are an example of a clean energy resource. They generate energy and reduce carbon emissions. Solar panels are another example of a clean energy resource. Rather than use wind to generate energy like the wind turbine, it uses the energy from the sun. Both of these resources save you money on your energy bills and prove to be a beneficial investment especially for years to come. In conclusion, climate change has had a negative economic impact on our world’s economies. The biological systems provide resources and a source of income, but these systems have been affected by climate change. Natural disasters and pandemics create huge economic loss and cause a decrease in population. Furthermore, certain actions must be put in place to improve the economies in the world. Otherwise there will be great economic effects that will threaten our world and negatively impact us in the future. It is up to us to make changes and improve the economy. Things will not get better in one day, but it is a process and hopefully individuals will continue with this process that will eventually put the economy in a positive direction. The world has suffered enough economically and changes must be made in order to make life easier, otherwise things will get very ugly. Page 9 of 9 Work Cited An Inconvenient Truth. Perf. Al Gore. 2006. Documentary. "Global Warming: The Economic Effects." Global Warming Causes & Global Warming Effects. 2007. Web. 19 May 2011. <http://globalwarming.solveyourproblem.com/global-warming-economic-effects.shtml>. Geographic, National. "Global Warming Effects Information, Global Warming Effects Facts, Climate Change Effects - National Geographic." Environment Facts, Environment Science, Global Warming, Natural Disasters, Ecosystems, Green Living - National Geographic. 2007. Web. 19 May 2011. <http://environment.nationalgeographic.com/environment/global-warming/gw-effects/>. Lazaroff, Cat. "Warming Climate Spawns Disease Epidemics." Www.ens-newswire.com. 2002. Web. Martin, Christopher. "Low-Carbon World Needs $500 Billion a Year to Slow Warming, WEF Says." Home - Gary Null - Your Guide To Natural Living. 2010. Web. 19 May 2011. <http://www.garynull.com/home/christopher-martin-low-carbon-world-needs-500-billion-a-year.html>. McMahon, Tim. "Hurricane Katrina:The Economics of Disaster." Www.inflationdata.com. 15 Sept. 2005. Web. <www.inflationdata.com/inflation/Inflation_Articles/Hurricane_Inflation.asp>. Socha, Thomas M. "The Potential Effects of Global Warming." Www.healthandenergy.com. 23 Feb. 2010. Web. <http://healthandenergy.com/potential_effects_of_climate_change.htm>. Uzawa, Hirofumi. Economic Theory and Global Warming. Cambridge: Cambridge University, 2003. Web. "West Nile Virus: Facts and Figures." CBC News. Http://www.cbc.ca. 10 Sept. 2009. Web. <http://www.cbc.ca/news/health/story/2009/09/10/f-west-nile-virus-background-facts-figures.html>.
The essay about global warmingIntroduction
Through my research on global warming it is apparent that global warming is not aproblem at all. In fact everybody needs to consolidate the fact that global warmingis helping mankind in many different ways. The environment warming up, the oceanlevels rising, and the increase in carbon dioxide are all benefits to the environment,economy, and mankind in general.As the world warms up people will not have to heat their house. This is beneficial inmany aspects. Not only will this save homeowners and businesses money it will alsouse less natural gas, which can be saved for other things. Also power plants will nothave to produce as much electricity. This will reduce the amount of fossil fuelsconsumed by power plants, since the majority or power plants burn coal to produceelectricity.With the temperatures on the rise the icebergs and polar ice caps will be melting. This is but a miraculous thing. For one the coastline will go inland a couple hundredmiles. Thus people who have property along the new coast will have an increase inproperty value, due to their property now being beachfront property. Also fruits thatthrive close to the coastline, such as citrus fruits, would flourish close to the newcoastline, bringing fruits closer to other places and reducing the cost of shipping thefruits. This would reduce the amount of impoverished countries around the world.With no more icebergs or polar ice caps naval passage with be much easier. Alsocaptains will not have to worry about running into any icebergs, and recreatinganother titanic experience. Over-sea shipments or cruises will not take as longbecause the captains would not have to avoid any icebergs.As the carbon dioxide levels in the air increase, plant growth would also show anincrease. Since plant growth will be on the rise the price on fruits and vegetableswill decrease, also producing enough food to help end world hunger. With plantgrowth on the rise the plant industry will fully benefit. Also everybody’s yard willflourish and look extravagant, relieving the stress of having to worry about howyour yard looks.Global warming should be looked upon as a blessing rather than a burden. It is timefor humankind to stop degrading global warming and start praising it. With propertyvalues increasing, plant growth increasing, food prices decreasing, and worldhunger diminishing who wouldn’t want global warming