Economic Perspectives Of Global Warming Case Study

Economic Perspectives Of Global melt - Case Study ExampleGlobal Warming and Climate Change have now become the buzzwords and rightly too. Carbon Dioxide released from the burning of give the sacks especially fossil fuels is a significant contributor to the global heating effect. The ever-increasing concentration has been held responsible for the breaking of Arctic Ice Caps the retreat of glaciers, increase in salinity, storms, floods and so forth. In short, the results could be catastrophic for civilization as we last it. Greenhouse gases tend to stay put before they dissipate. While the jury is still out on the ways to tackle this problem, there is no interrogation that frugal trade-offs will be involved.Economics provides the necessary tools to realistically address the problem. Its really now a battle over the economics, said James E. Rogers, party boss executive of Duke Energy, who has long advocated curbing carbon emissions. The debate is not about the climate problem. Ev erybody could agree on the principles and still get the economics wrong. ( NYT 6th, June 2008 )The least terms option, as identified by economists, is one which increases reductions over the decades. This will allow for capital depreciation and also the replacement of conventional energy sources like coal, fuel oil, etc. with alternative sources like wind, solar power, Nuclear Power and the like. It is no coincidence that China and India are among the major sources for greenhouse emissions have been under jam from the OECD and the Group of Eight to look at alternative energy sources. Neither is any altruism involved. Economics dictate adoption of a pragmatic forward motion which would be all inclusive i.e. include the developed and developing countries (who are way below emission levels in the developed economies and still in an economic growth path with no incentive to cut down on such emissions). Climate is perceived as a public good and wherefore international cooperation is de rigueur.