Global Warming and World Economy

Global warming has indeed been a major contributor to the steady decline of the world's economy. Several countries have suffered relentless climate changes which seem to be getting worse each year.

East Africa has endured severe drought. Global warming has impacted Africa in a big way and as drought worsens, the agriculture which most of the continent depends on is doomed to fail.

Parts of India has suffered torrential rainfall. Many of the roads are impassable and a number of people have been displaced. Multiple jobs have been lost due to crop failure, putting a serious strain on their economy.

Heat waves have caused a number of deaths in remote areas of Australia. Bacterial diarrhea has been a growing problem in these areas for the indigenous people and Dengue fever has increased at an alarming rate.

Global warming is also draining America's economy. Coal-producing states have been feeling the impact for nearly a decade while the Midwestern farmers are losing soil moisture from severe drought. Natural disasters spawned by global warming have been hammering our nation since the turn of the century and these super storms are predicted to increase and intensify.

According to the International Panel on Climate Change, if emissions could be reduced down to at least 50% of what it is today within the next 40 to 50 years, we could avoid the catastrophic impacts that global warming is capable of producing. This endeavor has taken a serious toll on our economy.

Nevertheless, numerous politicians are not supporting climate change legislation. There are simply too many businesses that can't afford to invest in these new technologies.

The Great Plains face devastating impacts to their economy due to a decreasing water table which threatens their agricultural production. Wildfires have been consuming thousands of acres of timber as a result of global warming which seriously affects the economy. Oceans are warming and the fishing industry is declining rapidly.

Coal-based electricity companies are searching feverishly for the technology which will enable them to exist in a world that restricts carbon. Automobile manufacturers are struggling to produce alternative fuels to reduce dependency on fossil fuels. Companies who fail in these endeavors will not be able to compete in the future.

Unfortunately, climate change legislation is not being supported which means that far too many businesses will not invest in renewable energy technologies until they absolutely have to. Most businesses consider Global warming to be the most important financial risk of today. At this rate we will not meet the reduction quota on time. Our economy is already suffering and this is a tremendous burden to face.

Global warming will definitively impact the world's economy in a number of different ways unless businesses can invest in renewable energy technologies that will reduce its effects. However, if global warming is not reduced soon, the economy will be the least of our worries.

Earthquakes are growing in number and intensity as predicted more than 2,000 years ago. Food shortages are approaching critical limits. Diseases for which there is no cure are spreading around the world due to modern transportation. Much of this is a direct result of global warming.

Lastly, global warming has already impacted our economy but with determination and persistence we must fight it for the sake of the next generation. Once we reach the tipping point it will be too late. The world will be locked in an irreversible pattern that cannot be changed.

Interesting Reading:

Speculating on the End of the World
Global Warming: The Scorecard so far
Is Global Warming a Hoax?