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Tag: arctic
UK 'complacent' over Arctic drilling
2013-07-27 04:12:00| Climate Ark Climate Change & Global Warming Newsfeed
BBC: The UK is "complacently standing by" as firms start drilling for oil and gas in the Arctic, a group of MPs has said. The Environmental Audit Committee said this was despite oil companies being unable to prove "they could clean up an oil spill in such harsh conditions". Members renewed their call for a halt to new drilling, saying it was risky for the climate and the environment. The government said it was not its place to tell Arctic states which resources they could extract. Last month,...
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Arctic melt damage bill put at $65 trillion
2013-07-26 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Sydney Morning Herald: Arctic permafrost melts. Methane frozen on the sea bed for thousands of years is starting to bubble to the surface as ice thaws. Photo: Unboxed Media The thawing of permafrost in one region of the Arctic will cause damage worth $65 trillion, or 80 per cent of the entire global economy last year, new research suggests. The oceans have been slowly warming in recent decades and methane frozen on the sea bed for thousands of years is starting to bubble to the surface in plumes. These ''methane pulses''...
Methane release from Arctic ice thaw an 'economic time bomb'
2013-07-26 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
ClimateWire: A massive release of methane from the Arctic seafloor would have catastrophic impacts on the world's economy, possibly costing $60 trillion or more because of associated problems such as sea-level rise and drought, according to a comment published yesterday in Nature. The $60 trillion -- roughly the size of the entire global economy last year -- considers a 50-gigaton belch of the greenhouse gas over a decadelong period from the East Siberian Sea, where scientists in recent years discovered perforations...
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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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