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Born at the Crest of the Empire

Saturday, September 30, 2006

The NOLA levees on a grand scale

I saw this somewhere as a shock headline,
The cost of curbing the soaring emissions of harmful gases that are blamed for causing global warming has been estimated at $1 trillion by a major study of the cost of climate change.

That's alot of money, and the costs should be managed carefully and wisely, but as this article points out, the potential costs of not capping greenhouse gasses is far higher.

It's a worldwide version of the New Orleans levee debate before Katrina where a 10% investment could've prevented the situation.

Even if you were to put aside the human suffering and just look at the disruptions and infrastructure loss, this is still an extremely wise investment. How much will it cost to relocate coastal area cities just in the US? How much will the farming disruptions cost? Managing refugees?

A $1 trillion cost spread over the next two decades is only $50 billion a year worldwide, and accepting the burden of that cost now will save tens of trillions in the long run.

(The US has spent half a trillion in Iraq in the 3 1/2 years so far.)

Instead of dealing with this problem, the administration's current plan on global warming is to "hope the levees hold," but we've already seen how that turns out.

Our grandchildren are going to curse us.

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