The High Cost of Staying the Course
Friday, December 15th, 2006Delay = Dollars.
That is the message from many, even in the utility industry, as made clear in a recent New York Times article centered on the economic implications of postponing action on climate change. The rationale echoes what we learned from the Stern Review Report: “Staying the course”–continuing the U.S. policy of inaction–is expensive.
While seemingly unlikely as advocates of carbon pricing, smart utility companies realize that the financial risks in coming decades mandate some form of insurance policy now. That means taking small steps to prepare for a carbon tax or a cap-and-trade scheme and then to make necessary business adjustments.
James Rogers, chief executive of Duke Energy, says:
Climate change is real, and we clearly believe we are on a route to mandatory controls on carbon dioxide. And we need to start now because the longer we wait, the more difficult and expensive this is going to be.

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Though climate refugees are not recognized under the Geneva Convention, their number almost certainly exceeds the number of officially-recognized refugees. This comes to light in an
He urges the sport to lead by example. He calls for energy-efficient lighting, recycling, and more park-and-ride or carpooling options. He calls on the international soccer Federation and fellow soccer players to set the precedent, possibly flaunting eco-friendly cars and striking “eco-friendly sponsorship deals.”
And by soar, we mean the rate of growth has more than doubled. In 2000, carbon dioxide emissions were rising less than 1% annually. Today they are rising more than 2.5% annually.
Allstate insurance has suspended new coverage in Manhattan, Brooklyn, the Bronx, Queens and Staten Island, even refusing to renew coverage in particularly vulnerable zones, according to the Post’s article. Why? they are worried about a
