Impact_of_Global_Warming_on_Economic_Development

Impact of Global Warming on Economic Development Global Warming, the general increase in the earth's near-surface air and ocean temperatures, remains a pressing issue in a society that has expanded its industrial use since the mid-twentieth century. Everyone born this century, in one form or another, has been exposed to the effects of global warming. The fact is that global warming, in its smallest stages, is a natural occurrence. Everyday gases such as carbon dioxide are released to warm the earth, allowing it to be a place that can be inhabited by all living things. However once the human element became higher in population, the warming of the earth was easier to identify. Humans needed to heat their homes, use gases to cook their foods, and burn fuel to drive their cars among other things. Instead of doing this naturally, electricity, gases, and aerosols were created to make human lives easier. Global warming has and will continue to have staggering effects on the world's economy if not controlled. People have always talked about the weather, but in the 1930's the talk took an unusual turn. Old folks began to insist that the weather truly wasn't what it used to be. The daunting blizzards they remembered from their childhoods back in the 1890's, the freezing of lakes in the early fall, all that had ended. Meteorologists scrutinized their records ad confirmed it: a warming trend was underway. (Weart, page 1). Since then people have become more and more aware of the changing climates in their home town. Towns that people have lived in for 50+ years were experiencing abnormalities in the climate they thought they knew. Winters were getting milder and coming later, summers were getting hotter, and scientists didn't know where to begin. Honestly, though, back then they worried very little about the strange climate changes they were experiencing. With longer hotter warm seasons farmers had the opportunity to stretch out their crop production longer. Codfish could now be harvested in northern zones where it had not been seen for centuries and the frosts were coming in later than ever. Although making lives easier was a positive reason for items being created, no one realized that there would also be any detrimental effects. However, after convenience items and utilities were found to have a downside, the question became, “What to do about it'” Unfortunately, the fact is that each day the earth temperature is still increasing. Now scientists are trying to determine a way, if not to stop global warming, at least slow it. If this is not done, experts fear that there will be many overwhelming changes in the earth that could result in humans and other living things becoming sick and in many species, extinct. (“What is Global Warming”, 2007, pg. 2). While trying to control or stop global warming, opportunities have risen from a commercial perspective. Such opportunities came about when risk assessments performed and remedies were identified as being needed. Such remedies developed thus far are pollutant filtration systems put in place in power plants as well as upgraded emissions systems placed in automobiles and fuel alternatives such as bio-diesel (Dumas, 2006, pg. 19). Others are on the horizon and they are leading to an industrial expansion which will not only be a positive for corporations but also create jobs and decrease the unemployment quotient. As changes occur, the fact remains that controlling the climate and warming effects of the earth must be a diligent effort. These efforts are similar to a diet. Everyone on the planet must be involved and only then will there be a measurable difference. However, the proper tools must be available for consumers to aid in the fight. Only then will the efforts to control the greenhouse effects be achievable. Global Warming and Climate Change Many have heard the term “global warming” but have paid little to no attention to what this actually means to the inhabitants of the earth. To prove this is easy. Few individuals have changed their lives to accommodate the physical aspects of the world. Only from governmental standpoints have certain materials or goods been altered in order to create less pollution leading to less carbon dioxide. However, the fact is that global warming which as discussed earlier, has led to a global climate change. These changes are evident by just reviewing the number of storms and their measured severity over the past 30 years. The occurrence of category four and five hurricanes has more than doubled in the past 30 year time span (“What is Global Warming”, 2007, pg. 1). This will continue to happen as category twos become threes and so on…. Regardless, the worry is that not only are category five hurricanes becoming more prevalent but they are also moving from being the rarity to becoming the norm. Global warming is important and cannot be ignored and the universe has its own way of telling individuals that something is wrong. The following are what will happen if changes are not made. Some of these issues are well on their way to occurring and are occurring at this very moment. Many however are occurring in small increments and will not be noticed for several years. The bad news is that by that time it will be “too little, too late” to do anything about it. Predicted or noticed changes The research, conducted by the Massachusetts Institute of Technology (MIT), predicts a 90% probability that worldwide surface temperatures will rise more than 9 degrees (F) by 2100, compared to a previous 2003 MIT study that forecast a rise of just over 4 degrees. (Rice,. 2009: pg 1) (Source: Black. 2007: pg 1) o Warmer global temperature will lead to high wind speeds, heat waves, wildfires, and droughts. Days exceeding 90 degrees will increase from 30 to 60 in many areas. o Sickness will increase due the warmer climates. Winter will no longer be a time to control bacteria which would normally die in the below freezing weather conditions. o More than one million species of plants will become extinct in the next 40 years (“what is global warming”, 2007, pg. 1). Global Warming and Greenhouse Gases Carbon dioxide (CO2) has always made up a substantial percentage of our atmosphere. The Greenhouse Effect (coined by Svante Arrhenius, 1896) involves the theory that certain gases concentrate in the atmosphere, where they function as an insulating barrier, trapping infrared radiation that would otherwise be radiated back into the upper atmosphere and reradiating it earthward. (Getis. 2009: pg 121). The IPCC's February summary report concluded that greenhouse gases were about 13 times more responsible than solar changes for rising global temperatures. (Black. 2007: pg 1). Economic Perspectives From an economic standpoint the issues listed previously can be seen as either devastations or opportunities. The fact is that if the earth temperatures continue as they are then temperatures around the globe will continue to rise and winters will become shorter as well as summers become longer. As a result, farmers will have a longer growing season and ones which can also expand in acreage and locations. Northern areas, which were previously uninhabitable for growing, could potentially become tomorrow’s best locations. This is also true with beach locales, alternative developments and increased technology. The issues with global changes are that there is no limit to such changes unless the warming can be slowed down by human interaction. Additionally, as stated before, this must be an ongoing effort. If and when scientists gain control of the issues contributing to the warming, economists predict that a gain in investments and sales could be the result. Although coastal property lines and the values associated with them may not change in the near future, but will inevitably change within the next 40 years. When this occurs, the coastline will decrease enough feet that what properties used to be a block away from the beach will become ocean front properties. Regardless a new industry is on the rise and that industry’s goals deal with the reduction of emissions and green house gases leading to a safe place to live. New Industries Since around 2002, the U.S. and many European countries have placed an importance on clean energy and as a result hoping to reduce the green house gases leading to the warming effect. Such efforts have created job projects such as the “Apollo Jobs Project”. This project was designed to measure the impact of federally supported “renewable energy as part of a comprehensive 10 year federal program to encourage energy diversity and promote high performance buildings” (Dumas. 2006: pg. 22). The thought is that renewable energy will in fact create jobs and hopefully lower the unemployment rates as well as prove that emissions can be lowered. A Few Industry Sectors o Windmills: In addition to high performance buildings, other sectors of the clean energy industry are those dealing in wind meal farms. Traditional farmers could switch from corn to wind. This would not only create another source of clean energy but would also create additional revenue for the farmers in addition to their other growth endeavors. This would lead to an additional $55 per month of income per acre, which could result in $500,000 per year. o Replanting: Since the reduction of plant life have harmed or at least have not aided in the reduction of green house gases, those in the construction related fields have been giving back as they are taking. This has created an increased need in the planning of trees and shrubs which have taken place since 1996. Since this time over 750,000 have been plants have been needed which had never been required prior to the push for the reduction in green house gases and warming (Dumas. 2006: pg. 21). o Electric Vehicles: “More than 4,000 electric vehicles have been purchased and are being used in the U.S. today” (Clean Alternative Fuels. 2002: pg. 1). The good news is that electric vehicles are beneficial to our environment and do not produce tailpipe emissions so their sales and development have continued to increase. This is evident by the advertising and the new models which are released on an annual basis. o Recycling: Recycling has increased by 54% while goals are still being pushed to achieve a higher level world wide. o Solar Power: Solar energy is estimated to grow by eight times by the year 2012 (Dumas. 2006: pg. 23). This opens the commercial market for solar powered products. They are a way of the future and should not be discouraged. Full Economic Impact The economic impact from the development of products to aid consumers in trying to live greener lives is extremely positive and open ended. It is not that consumers do not want to aid in this situations but the fact is they do not know how. Companies have an opportunity to participate in a truly win-win situation. They will not only help increase their sales but will also help consumers make a contribution to “saving our planet”. The costs for saving the planet are estimated to be around $351 billion by year 2060 depending on consumers, business, and government participation (Dumas. 2006: pg. 21). The good news for corporate interests is that there is money to be had and the economic impact of aiding the cause is increasing on a daily basis. The triple down theory of economics would truly apply in a situation like the one that governments, corporations, and individuals face. Conclusion The problem with global warming can be defined by something by something Albert Einstein said many years ago, “The definition of insanity is doing the same thing over and over again and expecting different results”. Think about this quote for a second and ask yourself, does it make sense. The answer should be, of course not, but as a society it takes a long time to change especially for an entire society. However the costs and opportunities will be great for all but well worth it in the end.