The US Economy Could Take A Massive Hit
Powerful natural disasters, as well as the effect that rising temperatures will have on an increasingly stressed workforce, means that the US could be be robbed of $2 trillion by 2030. If it remains in the pact, one analysis suggests that the entire world economy will get a $19 trillion paycheck by 2050, with America getting a significant share – and not just because there’ll be less damage from hurricanes and flooding.
Markets have turned against coal. It may be cheap these days, but renewables and natural gas – a low-carbon fossil fuel – are in many US states even cheaper, and far less likely to cause litigation-heavy disasters and pollution outbreaks.
Consequently, compared to coal and gas, the renewable energy sector is adding five times as many jobs. In fact, the job market in clean energy is expanding so rapidly that this is where the bulk of the $19 trillion would come from.
Trump often boasts on Twitter about jobs he’s supposedly creating by signing his stream of nonsensical executive orders, even though plenty of these are the result of a record job growth streak that’s hanging over from the previous administration. If he really wants to create jobs, he should invest in solar panels and wind turbines.
America Would Be Pummeled By Increasingly Powerful Natural Disasters
Hurricanes are terrifying forces of nature, but it’s not the wind that does the most damage – it’s the storm surge. This flooding is responsible for the most infrastructural damage and death, and it’ll only be exacerbated by rising sea levels.
Hurricanes, in general, are becoming stronger, with increasingly warm waters providing them with more “fuel”. They’re also getting stranger, and sometimes appearing in unprecedented pairs before slamming into US coastlines.
According to the Congressional Budget Office, the expected annual hurricane damage bill is around $28 billion. By 2075, thanks to unconscientious coastal development and climate change, this will rise to $39 billion.
As Spring arrives earlier every year and summer gets more intense, droughts and wildfires will also linger for longer. In terms of the latter, since 1979, wildfire seasons are now 19 percent longer, and the global frequency of long fire weather seasons has jumped up by 53 percent. The amount of burnable land affected has risen by a staggering 108 percent.