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Methane Released by Arctic Melting Could Cost the World $60 Trillion in Climate Extremes
2013-07-25 23:02:00| Climate Ark Climate Change & Global Warming Newsfeed
Nature World News: The costs resulting from methane released by melting Arctic ice could equal $60 trillion, or roughly a year of global economic output, according to a paper published Wednesday in the journal Nature. Trapped within the East Siberian Arctic Shelf is an estimated 50 gigatons of the known greenhouse gas that is expected, according to the scientists, to be released either suddenly or gradually over the next half century based on how quickly the ice melts. Either way, the researchers, who hail from...
Arctic methane escape could cost $60 trillion
2013-07-25 17:41:00| Climate Ark Climate Change & Global Warming Newsfeed
Grist: An almighty belch is building up deep in the belly of the Arctic, and its going to cost the world a pretty penny when it rips. As the Arctic continues to melt, a 50-gigatonne reservoir of methane trapped in permafrost beneath the East Siberian Sea will be released - perhaps steadily over five decades or perhaps during one sudden grandfatherly burp - and that will cause an estimated $37 trillion to $60 trillion worth of damage. So say researchers in a commentary published Wednesday in the journal...
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San Bruno Fire May Cost California Utility More Than $4 Billion
2013-07-25 16:37:42| ENR.com: Headline News
State regulators are calling for a $300-million fine and billions in safety upgrades to be paid by PG&E shareholders for a 2010 gas pipeline blast that killed eight.
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Methane meltdown: The Arctic timebomb that could cost us $60trn
2013-07-25 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Independent: The sudden release from the melting Arctic of vast quantities of methane a greenhouse gas at least 20 times more potent than carbon dioxide is an economic time-bomb that could explode at a cost of $60 trillion (40tr) to the global economy, a study has concluded. A scientific assessment of the costs associated with the release of Arctic methane into the atmosphere has found that the financial consequences to the world would almost equal the entire global economic output of one year. Scientists...
Cost of Arctic methane release could be 'size of global economy', experts warn
2013-07-24 20:04:00| Climate Ark Climate Change & Global Warming Newsfeed
ScienceDaily: Researchers have warned of an "economic time-bomb" in the Arctic, following a ground-breaking analysis of the likely cost of methane emissions in the region. Economic modelling shows that the methane emissions caused by shrinking sea ice from just one area of the Arctic could come with a global price tag of 60 trillion dollars -- the size of the world economy in 2012. Writing in a Comment piece in the journal, Nature, academics argue that a significant release of methane from thawing permafrost...
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