Global warming could devastate the world economy on a scale we haven’t seen since the world wars and the Great Depression, a major report by a British economist says.
Sir Nicholas Stern, the report’s author and a senior government economist, said unchecked global warming could shrink the global economy by 20 per cent — and cost a whopping $7 trillion in lost output. However, taking action now would cost just one per cent of global gross domestic product, Sterns says in his 700-page study.
British Prime Minister Tony Blair, who introduced the report today, called for “bold and decisive action” to cut carbon emissions and stem the worst of temperature rise. He said the Stern Review showed scientific evidence that global warming was “overwhelming” and its consequences “disastrous.” – more
Ah, what do the British know anyway? Just trust Bush. Believe Inhofe:
This video explains Bush’s view on the Global Warmings: