Biden Climate Con

Leading recognized climate economists discover costs are much greater than the benefits. 

Cost of climate policy through 2100 will be a minimum of $27 Trillion/yr (2023 dollars). 

Benefits of climate policy through 2100 will be at most $4.5 Trillion/yr (2023 dollars). 

Climate policy costs will be much higher than the likely benefits for every year throughout this century and into the next

If the world meets its 1.5 degree promise, it would prevent a less than 0.5% loss in annual global domestic product by 2050 and a 3.1% loss by 2100.

Fully delivering on the 1.5-degree Paris promise will cost a minimum of 4.5% of global GDP each year by midcentury and 5.5% by 2100 based on government implementation efficiently and at lowest possible costs. In reality costs will be much higher. 

• Morris, J, Y-H Henry Chen, A Gurgel, J Reilly and A Sokolov [2023] Net zero emissions of greenhouse gases by 2050: Achievable and at what cost? Climate Change Economics, 14(4), 2340002.  Google Scholar

• Riahi, K et al. [2022]  Mitigation pathways compatible with long-term goals. In  IPCC, 2022: Climate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change,  PR Shuklaet al.(eds.), Cambridge, UK: Cambridge University Press.  Google Scholar

• Shaw, D, Y-H Fu and Y-Q Chen [2023]  East Asia climate club: Pathway toward 2050 net-zero.  Climate Change Economics, 14(4), 2340005.  Google Scholar

• Tol, RSJ [2023]  Costs and benefits of the Paris climate targets. Climate Change Economics, 14(4), 2340003.  Google Scholar
  https://www.wsj.com/articles/net-zero-fails-the-cost-benefit-test-paris-climate-accord-cop28-748ae52d?st=39sqj8zhyburdl7&reflink=article_copyURL_share
  https://x.com/moxlosllc/status/1731303205932265863?s=46&t=Y4fVsDnz2q8uZ3VNKeco4A