16 Jul '11, 5pm

Economists Urge Honest Accounting of Carbon's True Costs

Economists Urge Honest Accounting of Carbon's True Costs

With all eyes riveted on the debt talks and efforts to avert an economy-busting government default, little attention is being paid to another debt that is similarly ballooning out of control and threatening to spur its own economic chaos. The carbon debt. Those pesky greenhouse gas emissions that we spew to power our businesses, drive our cars and heat and cool our homes are accumulating in the atmosphere like an unpaid bill with compounding interest. Economists now say that the bill for all that unchecked carbon pollution is a lot bigger than previously thought -- and that the longer we wait to pay it, the more it's going to cost us. A new peer-reviewed report released this week by the Economics and Equity for the Environment (E3) network found that each ton of carbon dioxide emitted in the atmosphere results in as much as $893 in economic damages, far greater than the go...

Full article: http://www.greenbiz.com/blog/2011/07/16/economists-urge-h...

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