Climate change and your money – a reprise

My friend Hugh Curtler, of the Daily Gadfly, has written an excellent post on the need to face up to the issues caused by global warming and highlighting “The High Costs of Ignorance.” A link to this excellent post is provided below and it is well worth the read. Hugh also attracts a good group of commenters, so I encourage you to spend some time with their reactions and his additional comments.

Last year, I wrote a post based on a survey prepared by Mercer Investment Consulting, one of the largest investment consultants in the world. This survey was from 2011 and solicited the thoughts of the Directors of the largest pension scheme trust funds in the world on the subject of the cost of climate change. This survey was conducted before Hurricane Sandy and before the many wildfires which have occurred in our country the past twenty-one months. A link to this post is below.

As the United Nations climate scientists noted last month, climate change is here and they are 95% certain it is man-influenced. We are behind in our plans to act. We must move forward in a concerted way. Good things have happened, but they are more a confederation of efforts. California leads our efforts in solar energy. Texas leads our efforts in wind energy. Yet, we need to have a concerted plan which accelerates the move toward alternative energies like these and other sources (wave, river current, water, biomass and geothermal energy, as well as conservation, a major source).

If you find yourself with someone naysaying climate change, you need only say, we need to join the rest of the world in addressing this issue. We have done some nice things here, but we need to do much, much more and in an orchestrated fashion. The cost of not doing anything is a very high cost if ignorance which will be paid as we repair damage that could have been prevented or diffused.

4 thoughts on “Climate change and your money – a reprise

  1. As I responded to Hugh, I believe the issue behind all the naysayers is MONEY!!! Oil companies don’t want to make the capital investments to change from oil to whatever, they have no real presence in wind or solar energy, and their deep pockets are buying the congressional minions to make these outrageous claims against global warming.

    Until the money issue is address, we’re doomed.

    • I agree with the money comment and the significant uphill battle. On the flip side, things are happening and will continue to happen with or without oil companies. Due to relatively small capital cost on solar, there will be continue to be a growing solar industry. You see it in CA and we are seeing it here in NC.

      I did see where Pro-Coal advocates marched on Washington yesterday. The same day this happened, I read an article by an economist saying we have to invest in newer techonologies and businesses and less in older models. If the leaders in WVa want to shoot straight with their citizens, they should say, we need to move heavily into wind and solar, especially with the windy mountains. There are jobs there. With all of that said, your point is very well taken. Thanks, BTG

      • Wind and solar, where they make sense, are the wave of the future. Often their best locations are remote, which will require the building of new transmission lines. I think once the oil and gas lobby get out of the way, these industries will take off, and costs will come down closer to parity with todays sources.

        Lets keep our fingers crossed.

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