There is a growing view among American business leaders and mainstream economists who see global warming as a force that contributes to lower gross domestic products, higher food and commodity costs, broken supply chains and increased financial risk, according to the New York Times. Their position is at striking odds with the longstanding argument, advanced by the coal industry and others, that policies to curb carbon emissions are more economically harmful than the impact of climate change.
“The bottom line is that the policies will increase the cost of carbon and electricity,” said Roger Bezdek, an economist who produced a report for the coal lobby that was released this week. “Even the most conservative estimates peg the social benefit of carbon-based fuels as 50 times greater than its supposed social cost.”
Some tycoons are no longer listening.
http://www.nytimes.com/2014/01/24/science/earth/threat-to-bottom-line-spurs-action-on-climate.html?_r=0
