12 economic truths about climate change

12 economic truths about climate change
Northwestern University professor Diane Schanzenbach. Credit: Northwestern University

Over the next 70 years, every state in the U.S. is expected to experience increasing temperatures, according to a new report on the economic facts of climate change, co-authored by Northwestern University professor Diane Schanzenbach, director of The Hamilton Project at the Brookings Institution.

The report, a joint effort by the Hamilton Project and the Energy Policy Institute at the University of Chicago, outlines 12 significant economic truths related to energy and , laying the groundwork for potential policy solutions.

Among the findings:

  • The U.S. possess ample affordable energy
  • Much of the U.S. infrastructure is vulnerable to change
  • The prices we pay for fossil fuels do not reflect their social costs
  • Public investment in energy research and design remains well below 1970s and 1980s levels
  • Investments in would greatly lower the burden of climate change

"Given the immense threat that climate change represents, it is crucial that policy makers implement efficient solutions that minimize climate damages from our use of energy," the authors wrote.

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More information: Twelve Economic Facts on Energy and Climate Change: www.brookings.edu/research/twe … -and-climate-change/
Citation: 12 economic truths about climate change (2017, April 5) retrieved 3 July 2020 from https://phys.org/news/2017-04-economic-truths-climate.html
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