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Earth The Almighty Buck

Melting Permafrost In Arctic Will Have $70 Trillion Climate Impact, Study Says (theguardian.com) 408

An anonymous reader quotes a report from The Guardian: The release of methane and carbon dioxide from thawing permafrost will accelerate global warming and add up to $70 trillion to the world's climate bill, according to the most advanced study yet of the economic consequences of a melting Arctic. If countries fail to improve on their Paris agreement commitments, this feedback mechanism, combined with a loss of heat-deflecting white ice, will cause a near 5% amplification of global warming and its associated costs, says the paper, which was published on Tuesday in Nature Communications.

The authors say their study is the first to calculate the economic impact of permafrost melt and reduced albedo -- a measure of how much light that hits a surface is reflected without being absorbed -- based on the most advanced computer models of what is likely to happen in the Arctic as temperatures rise. It shows how destabilized natural systems will worsen the problem caused by man-made emissions, making it more difficult and expensive to solve. They assessed known stocks of frozen organic matter in the ground up to 3 meters deep at multiple points across the Arctic. These were run through the world's most advanced simulation software in the US and at the UK Met Office to predict how much gas will be released at different levels of warming. Even with supercomputers, the number crunching took weeks because the vast geography and complex climate interactions of the Arctic throw up multiple variables. The researchers then applied previous economic impact models to assess the likely costs.
Permafrost melt is the main concern because of all the carbon trapped in the frozen ground. "On the current trajectory of at least 3C of warming by the end of the century, melting permafrost is expected to discharge up to 280 gigatons of carbon dioxide and 3 gigatons of methane, which has a climate effect that is 10 to 20 times stronger than CO2," the report says.

"This would increase the global climate-driven impacts by by $70 trillion between now and 2300. This is 10 times higher than the projected benefits from a melting Arctic, such as easier navigation for ships and access to minerals, says the paper."
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Melting Permafrost In Arctic Will Have $70 Trillion Climate Impact, Study Says

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  • by RyanFenton ( 230700 ) on Tuesday April 23, 2019 @10:53PM (#58480974)

    Start going a little further, and releasing some of those old ocean trapped hydrocarbons (Methane clathrate)... also known as the cause of at least two of the biggest known extinction events.

    https://en.wikipedia.org/wiki/... [wikipedia.org]

    That would make even 70 trillion look like small potatoes.

    Then, it's not a question of which at risk species go extinct - which is most of them anyway without warming - but which ecosystems continue to exist in a recognizable form.

    Don't get me wrong - the planet would survive, it's had these events, and likely humans would find some way of making it through such an event - it's just such a pointless experiment to put your world through when you have a choice.

    Ryan Fenton

    • by e3m4n ( 947977 )

      The methane is from decomposed plant-life correct? Then at some point its fair to assume life thrived there without the ice. How difficult would it be to capture the trapped methane before its release and process it as either a fuel source (carbon dioxide being less of a greenhouse catalyst than methane) or convert it into a butane-like compound we currently use for environment friendly refrigerants? Ice melting doesn't concern me as much as the methane. CO2 has a natural correction in that areas where ice

  • by Anonymous Coward on Tuesday April 23, 2019 @11:02PM (#58481002)

    Wow, that's a lot of money. Sure would be nice if we had a power source that is reliable, inexpensive, exceedingly safe, and produces near zero CO2 emissions in the process. You know, like nuclear power but not nuclear power. Because nuclear power is bad, for reasons.

    Or maybe nuclear power isn't all that bad. We have France that discovered a way to produce a very large percentage of it's electricity with nuclear power. And they did that decades ago. Germany, UK, and so many other nations tried and failed to use wind and solar as replacements for coal and natural gas. If this was such a success then why is Russia building more natural gas lines into western Europe right now? Shouldn't cheap wind and solar energy make this unnecessary?

    Oh, but what about Chernobyl? And Fukushima? Those were reactors built in the 1970s, and we learned a few things since then.

    If we can't have nuclear power then we are just waiting for the global warming to kill us all. We can't build enough windmills and solar collectors in the time we have left to stop global warming. We just cannot. At least not without greater damage to the economy than what global warming would cause.

    Make your choice, it's nuclear power or bad things happen.

    I'm waiting for your answer.

    • by blindseer ( 891256 ) <blindseer@noSPAm.earthlink.net> on Wednesday April 24, 2019 @12:44AM (#58481244)

      We'll get our nuclear power when the hippies that keep propping up the global warming bogeyman grow up or, as Bill Nye put it, "age out".

      We are finally seeing the US federal government issue licenses for nuclear power experimentation. The problem is not a lack of funding, it's a lack of permits. The government has been under control of anti-nuclear politicians for too long. When we get these near senile congress critters to leave office I expect to see a renewed interest in nuclear power.

      For people that seem to be so frightened of global warming this fear of nuclear power seems quite nonsensical. That is unless one realizes that if nuclear power gains any kind of foothold then the global warming threat evaporates. There is no threat of global warming after that, at least not from human activity. Anyone that brings it up after that just made the case for another dozen nuclear power plants to get built.

      What will politicians use as a bogeyman to funnel money into their districts if we solve the problem of global warming? They don't want to solve this problem, they want to drag this out as long as they are in office. If they were serious about solving this then they'd have solved it by now. This is not a difficult problem to solve. We know the answer. The politicians simply will not allow us to have it.

    • by TeknoHog ( 164938 ) on Wednesday April 24, 2019 @06:29AM (#58482012) Homepage Journal

      Oh, but what about Chernobyl? And Fukushima? Those were reactors built in the 1970s, and we learned a few things since then.

      IIRC, only a handful of people are dead due to nuclear radiation in the Fukushima incident. Most people were killed by the tsunami itself. I've also read that thousands were killed due to the panic of evacuation in the radiation zones; the radiation levels in those zones are lower than the natural background radiation in some populated areas here in Finland.

      We can call ourselves "learned" when we stop panicking over "nukular" and start looking at the facts. Nuclear is by far the safest way to produce electricity, when looking at deaths per energy output.

  • by Shane_Optima ( 4414539 ) on Tuesday April 23, 2019 @11:07PM (#58481010) Journal
    Is anyone else waiting impatiently for the non-hand-wringing stories to start appearing? I think it might turn more heads and perhaps even convince more skeptics if journalists could find stories that have more to them beyond "oh noes, global warming is gonna cause something bad to happen unless we stop it."

    (To clarify: anthropogenic global warming is certainly real and definitely going to have net negative effects on humanity... I just feel that the doom stories have met diminishing returns and stories with other tones might accomplish more.)

    For instance: has anyone made a global warming oriented long term investment fund? Surely global warming is going to have a positive effect on some industries and some pieces of real estate. At the risk of creating some perverse incentives, why not start putting together funds that track these industries and buy up these pieces of real estate? All sorts of foundations and rich celebs might invest in such funds ("I hope I lose money", etc.) At the very least, we could get places like the Wall Street Journal talking about climate change more frequently.
    • I just feel that the doom stories have met diminishing returns and stories with other tones might accomplish more

      For those that are inclined to ignore climate change, a mild story will only strengthen their belief that nothing needs to be done right now. Besides, such stories don't sell clicks, which is the most important goal.

      • Those who disbelieve in climate change can make money by shorting the climate change funds, no? (Well maybe not due to the time scales. There usually aren't great ways to long term short stuff. Which is probably a good thing.)

        It isn't necessarily about being a "mild" story. It's about stories being written in a manner that doesn't sound like a persuasive piece. Even if the truth is that the outcome really is going to be 95% bad news for humans, it still comes off as propaganda to those people who are alr
    • by quantaman ( 517394 ) on Tuesday April 23, 2019 @11:34PM (#58481088)

      Is anyone else waiting impatiently for the non-hand-wringing stories to start appearing? I think it might turn more heads and perhaps even convince more skeptics if journalists could find stories that have more to them beyond "oh noes, global warming is gonna cause something bad to happen unless we stop it."

      (To clarify: anthropogenic global warming is certainly real and definitely going to have net negative effects on humanity... I just feel that the doom stories have met diminishing returns and stories with other tones might accomplish more.)

      For instance: has anyone made a global warming oriented long term investment fund? Surely global warming is going to have a positive effect on some industries and some pieces of real estate. At the risk of creating some perverse incentives, why not start putting together funds that track these industries and buy up these pieces of real estate? All sorts of foundations and rich celebs might invest in such funds ("I hope I lose money", etc.) At the very least, we could get places like the Wall Street Journal talking about climate change more frequently.

      Well non-coastal cities will do well. Some northern latitudes may improve but the shifting climate patterns will screw with the eco-systems. Low-emission and emission free power sources will do well, which is why energy companies of all kinds are pumping a lot of R&D money into them.

      Of course the clearest effect now is insurance companies backing away from policies that cover coastal flooding. And ocean front properties don't cost what they used to [forbes.com]. Of course there's a lot of confounders with property valuation but that seems to indicate they've dipped relative to other premium real estate.

    • by blindseer ( 891256 ) <blindseer@noSPAm.earthlink.net> on Wednesday April 24, 2019 @12:56AM (#58481266)

      Is anyone else waiting impatiently for the non-hand-wringing stories to start appearing?

      I'm looking for solutions instead of more articles explaining the problem.

      When I speak of solutions I mean things that can be deployed on a meaningful scale in a meaningful time frame. Articles on electric airplanes are cute but we know they aren't going to be even close to replacing the airplanes we have today for something like 30 years. If Representative Alexandria Ocasio-Cortez is correct we have only 12 years to solve this. Can we build enough windmills, solar collectors, and electric airplanes by then? Not likely, especially when they depend on technologies that exist only in laboratory experiments right now.

      We know how to solve this but no one dares mention the obvious solution. Because nuclear power is scary.

      Oops, did I just mention the unmentionable?

      • We can't build nuclear power in 12 years either, especially not if you're not just aiming to take over current electricity but also want to run hydrocarbon generators for all transportation.

        • by Mashiki ( 184564 )

          We can't build nuclear power in 12 years either

          We can't? Boy oh boy. What about all those type A & B(Gen 2 and Gen 2.5) CANDU reactors(approx 830MW per reactor, 4 reactors total) that went from starting construction to producing power in 6 years?

          We absolutely can if we want to. The problem is that despite the doom criers of the environmentalist movement of "it's really really bad! Really bad!" for the last 45 years(really 'guv it's really really really bad now!). It's those same people making those claims also blocking the construction of new re

          • There's a huge gap between building a few reactors, and supplying/distributing all our energy needs, including transportation fuels.

            • by Mashiki ( 184564 )

              There's a huge gap between building a few reactors, and supplying/distributing all our energy needs, including transportation fuels.

              No there actually isn't. See, those 4 reactors I mentioned are part of a complex at the 2nd largest nuclear power station in the world. Doing a pretty good job at it too. The grids already exist in say north america, so do the inner-connects. And HVDC is being used to fill the gaps between high production and no production areas. Europe is oh 20 years behind us on that, they're still working on placement of HVDC segments.

              The reality is, if you want to 'do away with' combustion engines then you need to

              • No there actually isn't. See, those 4 reactors I mentioned are part of a complex at the 2nd largest nuclear power station in the world

                You don't see the problem with scale ? If we ask the supplier not to build 4 reactors, but 4000, you don't think that the lead time is going to be longer ?

                Europe is oh 20 years behind us on that, they're still working on placement of HVDC segments.

                If the infrastructure only takes 12 years to build, how can anyone be 20 years behind ?

      • Probably. I actually don't think it's a productive use of time to talk about nuclear for meta-political reasons, which is very depressing. Especially since there's no real good you couldn't do it on a megaproject scale and crank out cheap hydrogen [wikipedia.org] along with the electricity.

        Also, goddamn Bill Clinton dragged the Democrats into the center and that's still where their head is at. Even as the SJWs are doing their thing, there's very little talk about major governmental projects or research initiatives. I
    • Re: (Score:2, Interesting)

      by sg_oneill ( 159032 )

      If you wanted to make a Global Warming fund. I'd start by taking some long term shorts on just about everything.

      Because if the physicists are right aboute climate change, and theres absolutely no cause to believe they are not, theres some lousy times ahead for unregulated capitalism.

      • by Shane_Optima ( 4414539 ) on Wednesday April 24, 2019 @02:58AM (#58481496) Journal
        There's no such thing as a long term short that I am aware of. This is probably a good thing... it may contribute to bubbles but on the other hand the abuses that could occur with a "long term short" are massive. In a nutshell, long term investors being "forced" to be optimistic instead of pessimistic is very good for the economy. Giving long term investors an ability to be long-term pessimistic runs the risk of self-fulfilling prophesies on a level the markets have never, ever seen. (It's all very complicated because prices generally can't go negative--a long position can thus never be anything like a true mirror image of a short position.)

        Plenty of things go up in times of crisis. Also, I don't think the crisis will be as dire as all that. If it really is going to be that dire, across the board catastrophe, the people who write these global warming articles need to present those scenarios more coherently and convincingly... with hard evidence and models and the years in which they're likely to emerge. Global warming is real and yes it will suck but I've yet to see anything that implies any of the hyperbole is plausible (the clathrate gun being the only real doomsday possibility but last I heard it was deemed implausible.)
    • Is anyone else waiting impatiently for the non-hand-wringing stories to start appearing? I think it might turn more heads and perhaps even convince more skeptics if journalists could find stories that have more to them beyond "oh noes, global warming is gonna cause something bad to happen unless we stop it."

      The only thing I'm waiting impatiently for is for people to take things from the media/journalists with a grain of salt.
      Many who write/publish on the internet are doing it for ad revenue(clicks).
      They want the emotional response.

      I haven't read the story, but for you to feign surprise at a hand-wringing story really just shows how naive you are.
      There is that saying, "born in the night..."

  • In 100 years, that's going to be less than the dept of the USA.
  • by grungeman ( 590547 ) on Wednesday April 24, 2019 @04:30AM (#58481702)
    What exactly does it mean that something has a certain monetary impact? What will happen to this money? Will it be moved from the taxpayer to some evil corporations? Will it disappear from our bank accounts? Will the money be devaluated? Does it mean there is a business opportunity? Is it even bad? Serious questions.
  • How to sell ice to eskimos: If melting ice in the Arctic will have a $70 trillion impact, then it stands to reason that freezing ice in the arctic will pay $70 trillion dollar dividends. Are you in?
  • by sabbede ( 2678435 ) on Wednesday April 24, 2019 @07:11AM (#58482154)
    I thought there was a supposed to be a problem, not a manageable annoyance. Global GDP in 2016 was $75 trillion, so eating $250 billion a year shouldn't be a problem. $36/person/year at current population.
  • In that case, shouldn't we, you know ... do something?

    And by "do something", I don't mean handwringing and blaming others for their energy use (while you use your e-everything in your one person apartment). I mean actually do something, find a technological solution.

Children begin by loving their parents. After a time they judge them. Rarely, if ever, do they forgive them. - Oscar Wilde

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