• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Study Shows Global Warming Will Not Hurt U.S. Economy

    The left loves to scare monger over the threat global warming presents to the United States. Last year the Natural Resources Defense Council put out a report claiming global warming would cost the U.S. $3.8 trillion annually. The report was full of fanciful assumptions and its conclusions had no basis in reality.

    Actual scientists from MIT and Northwestern University recently examined annual variations in climate to determine the impact of temperature changes on national economies. And what did they conclude:

    Our main results show large, negative effects of higher temperatures on growth, but only in poor countries. In poorer countries, we estimate that a 1?C rise in temperature in a given year reduced economic growth in that year by about 1.1 percentage points. In rich countries, changes in temperature had no discernable effect on growth. Changes in precipitation had no substantial effects on growth in either poor or rich countries. We find broadly consistent results across a wide range of alternative specifications.

    U.S. News James Pethokoukis comments:

    So if you do buy into the theory of man-made climate change, the next logical move would surely be to do nothing that would slow growth and technologcal advancement in rich countries — such as a cap-and-trade regulatory system or onerous carbon taxes — and do more to accelerate growth in poor ones through free trade and the exporting of democratic capitalism.

    Posted in Energy [slideshow_deploy]

    10 Responses to Study Shows Global Warming Will Not Hurt U.S. Economy

    1. Matthew, Kentucky says:

      It'd be nice if Foxy Loxy would finally eat Chicken Little and his Turkey Lurkey psuedo-scientists so we can get some sense and true science back in the world. Unfortunately the modern Chicken Little doesn't really believe the sky is falling. He just wants to control all the other barnyard animals, and is much too shrewd to be eaten by Foxy Loxy.

    2. Earl_E says:

      Being a Ron Paul supporter, wishing to eliminate the IRS, bring our troops home, and have other conservative leanings, I am always amazed at how often I read the two words "THE LEFT".

      You see, the definition of "the left" has many new meanings, but if I were to try and associate George Bush with "the right" I would be in error.

      So along the same lines, your story is just as pointless. How do you estimate the damage oil shale production will have on the Colorodo river watershed after a uranium spill poisons the entire river?

      Close down San Diego, LA, and about 7 states. Also, they are in a 12 year drought in the Southwest, are breaking the state budgets with firefighting, and stand to watch the fresh fruit growing season crippled by reduced meltwater….

    3. Dash RipRock III, US says:

      Al Gore has really stepped in it this time. He could have spent the rest of his global warming career collecting money by spreading fear over events that were a century or at least half century in the future. Oh, but that wasn’t good enough for Big Al. He’s now told the biggest global warming whopper of his alarmist career:

      AL GORE HAS PREDICTED THAT THE NORTHERN POLAR ICE CAP WILL BE COMPLETELY GONE IN FIVE YEARS!!!

      When I heard this I assumed it was a rumor started by skeptics to make Gore look bad. It wasn’t until I viewed the video that I realized what Gore had done. Gore has started a five year credibility countdown timer ticking and it’s up to all of us to make sure that he is held accountable and proven to be a fraud when his dire prediction aimed at drumming up support doesn’t come true.

      The mainstream media isn’t going to let this video see the light of day because they, unlike Al, understand the precarious position in which he has placed himself.

      It is therefore up to us to spread the word about Big Al’s prediction. He must be exposed for the fear mongering opportunist that he has become.

      To view the video, please visit the following site and click on the picture of Big Al holding up five fingers.

      http://www.hootervillegazette.com

      While visiting this site, you might want to watch a preview of the film “Not Evil, Just wrong” or watch “The Great Global Warming Swindle” which is found in the video section. Happy Viewing!!!

    4. Pingback: Wonk Room » Paper Finds Global Warming Clobbers Third World — Heritage Looks For Silver Lining

    5. Pingback: Celebrity Paycut - Encouraging celebrities all over the world to save us from global warming by taking a paycut.

    6. Nicholas Miller, Van says:

      This presumably assumes that the US economy is all that matters. So as long as the US economy is OK there is no problem with damaging the environment.

      This thinking brings new meaning to the concept of short-sightedness. In spite of the cherry-picked quotes that the author is using to try to support his point of view, the fact remains that virtually all scientists are of the view that Climate Change is at least partially caused by human activity (even those working for the Bush administration). Also, that unless we reduce the emission of greenhouse gasses in both the developed and developing worlds, the climate will be so affected in our children's lifetimes, if not our own, so as to fundamentally change the availability of water and our ability to grow crops and feed ourselves and our children.

      Our continued reliance on fossil fuels adversely impacts US National Security, and unchecked Climate Change will likely lead to more instability and conflict in the World.

      To continue with the type of politically oriented thinking espoused by the author is, in my view, at best foolish and at worst, morally bankrupt. Climate Change is not a political issue, it is a moral issue.

    7. Elizabeth, Orofino I says:

      The predictions of climate change for the US are drought or severe drought for the food producing parts of the country. I am not sure what the model was for the study, but it must be something like this: If the production of grain drops 50%, all we have to do to keep the effects of drought economically neutral is double the price of grain.

      A person who can no longer afford to buy bread will be greatly cheered that the law of supply and demand will sustain this country's economic growth in periods of poor crops. Hope springs eternal at the Heritage Foundation

    8. Pingback: Celebrity Paycut - Encouraging celebrities all over the world to save us from global warming by taking a paycut.

    9. Pingback: EnergyByEarth.com » Voodoo economists, part 3

    10. Pingback: Climate Progress » Blog Archive » Voodoo Economists, Part 3: MIT and NBER (and Tol and Nordhaus) — the right wing deniers love your work. Ask yourself “why?”

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×