How the Global Warming Affect the U.S. Economy Essay

How the Global Warming Affect the U.S. Economy - Essay Example of â€Å"Global Warming† on the economy of the United States has draw near to prominently diverse finale concerning the economic effects of global warming. The range of climatic changes including soaring sea levels, regular hurricanes and unfortunate events of excessive weather shift have tremendously affected the infrastructure and the natural atmosphere of US leading the economy towards downward in addition with pushing the government and nation to witness the bursting spectrum of huge costs accrued due to the repeated atmospheric disruption. Novel researches reveal that if the continuation of the present â€Å"climatic changes† occurs than the US has to bear an additional costs which will in turn can soar up to as sky-scraping as 3.5 % of the GDP. As per the experts, the four global warming impacts i.e. hurricane, real estate losses, energy costs, and water costs are estimated to cost approximately 1.8 % of U.S. GDP or by the year 2100 it can increase just about $2.1 trillion annually moreover, the same research reveals that instantaneous implementation of the dynamic â€Å"climate protection policies† may possibly restrict the temperature amplification up to an extent of â€Å"2 °F† and eradicate over 50% of the damage costs. The â€Å"costs† of global warming are identified to have a mass effect on the US economy as alteration in farm output, civic health expenditures and infrastructure losses are some of the monetary consuming effects of â€Å"Global Warming† which comes with well -defined penalties. The estimated damage costs of the largest disaster â€Å"Hurricane Katrina† in the U.S. history is valued at $81.2 billions in addition with a officially claimed death toll of 1,836 and reported missing of more than 1000 people which is absolutely double value of the previous storms witnessed by this great country. The disaster had affected the crops leading to price rise of food items and impacted electric supply leaving nearly 3 million people suffer for the adequate