Now, we find that the benefits of achieving the ambitious Paris targets are perhaps 30 times larger than the costs. Basically, every dollar spent on mitigation generates many more dollars in benefits by preventing more serious damage from occurring. We also find that most countries are likely to share in these benefits, including the U.S., China, and most of the world’s poorest countries.
Overall, this means avoiding the nearly unfathomable losses of income associated with a warming climate. For example, if the world were to warm to between 2.5 and 3 degrees Celsius by the end of the century, the researchers project that global economic output would fall between 15 and 25 percent, which amounts to tens of trillions of dollars.
Paul Dawson @PaulEDawson May 30 2018
“Cleaning up the tar sands complex in Alberta – the biggest, ugliest scar on the surface of the earth – is already estimated to cost more than the total revenues generated by all the oil that’s come out of the ground.”
$48,788,778,951. – Rolling counter of cost of cleanup.
TOTAL PUBLIC LIABILITY FOR TAILINGS PONDS CLEANUP
Currently, taxpayers are at risk of being on the hook to cover the costs of cleaning up toxic tailing ponds. As the poisonous ponds grow, so do the cleanup costs.
Shale companies boosted U.S. oil production…but their spending outstripped cash generated, bringing lower returns compared with traditional operations..
In the past decade, the shale-fracking revolution has made the U.S. the world’s largest oil-and-gas producer and reshaped markets. Yet shale has been a lousy bet for most investors. Since 2007, shares in an index of U.S. producers have fallen 31%, according to data provider FactSet, while the S&P 500 rose 80%. Energy companies in that time have spent $280 billion more than they generated from operations on shale investments, according to advisory firm Evercore ISI.
Advances in clean energy expected to cause a sudden drop in demand for fossil fuels, leaving companies with trillions in stranded assets …
Plunging prices for renewable energy and rapidly increasing investment in low-carbon technologies could leave fossil fuel companies with trillions in stranded assets and spark a global financial crisis, a new study has found.
A sudden drop in demand for fossil fuels before 2035 is likely, according to the study, given the current global investments and economic advantages in a low-carbon transition.