Monday, October 30, 2006

MORE ON GLOBAL WARMING

Fats Limbaugh and other gasbags routinely describe the threat of global warming as "junk science." They try to argue that this is just another velied attack on capitalism. I wonder what they will say about this?

Global Warming Will Devastate World Economy, Report Says
Associated Press
Monday, October 30, 2006; 8:01 AM

LONDON -- Unchecked global warming will devastate the world economy on the scale of the world wars and the Great Depression, a major British report said Monday.

Introducing the report, British Prime Minister Tony Blair said unabated climate change would eventually cost the world between 5 percent and 20 percent of global gross domestic product each year.

The author of the British report, Sir Nicholas Stern, a senior government economist, said that acting now to cut greenhouse gas emissions would cost about 1 percent of global GDP each year.

"The evidence shows that ignoring climate change will eventually damage economic growth," said Stern's 700-page report, an effort to quantify the economic cost of climate change.

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