Flooding across the Midwest and eventually through sea level rise will affect people through the damage to their homes by flood waters. Hurricane storm surge with higher sea levels will reach further inland and flood areas not known for this type of tropical event even with hurricanes occurring. Also, wildfires will become more prevalent and burn much more land because of global warming. This will cause major evacuations of areas that have never seen wildfires before in the west. People in these areas will lose homes and lives to the enhanced wildfires via global warming.
As climate change continues in the future prices for a loaf of bread will soar to 120.00 dollars or more. This increase in a loaf of bread should cause people to consider buying silver or other precious metals to offshoot the economic collapse coming. Areas of the Midwest and other farming regions will suffer because of flooding, warmer weather, and extreme severe storms that level their crops. Insects could also be threatened with extinction as the warmer climate will eventually overcome the world riots through climate change. These insects pollinate the farmer’s crops and without them, the crops will fail.
Through contamination of the water supply by heavy rainstorms could produce a water shortage for some Americans in the future. Across rural areas of America, contaminations can be moved along by heavy rainfall and then enter the water supply chain. This would produce contamination of water supplies. Where water supplies are already low, contaminants could overcome the water supply; because they become more infiltrating as the water level lowers even more through climate change droughts. Always keep bottled water on hand in case of water shortage emergencies. During droughts keep your water use to a minimum. If the government says that water is contaminated in your area then boil the water to use it.
The enhancement of tornadoes through nitrous oxide in fertilizer can also cause tremendous losses for communities in Tornado alley. Take for example the 2013 El Reno Oklahoma tornado. In the slide provided one can see the tornado grew wider, slowed down, intensified, and sped up in its life cycle. This is all due to nitrous oxide released into these fields because of drought to try and bring them back from the 2011 - 2012 dry season. Too much nitrous oxide was presented in the fields and as the tornado went across these fields it was like gas being fueled into the latent heat updraft. This ended up producing a 2-mile-wide tornado. More tornadoes like this are possible in our changing climate if farmers are allowed to put down that much fertilizer and accidentally enhance the storms.
During the winter time, tourism could take a major hit from climate change in the United States. Ski resorts across Colorado, and Upper Michigan. Alaska and other regions of the northeast could see less snowfall because of rising temperatures associated with global warming. This would downturn ski resort economies. Wildfires to the west could cause less tourism in the Rocky Mountains, California, Oregon, and the Washington States. This downturn in tourism would hurt state monies taken in as a way to offset costs. The economy would suffer with less tourism in these areas.
Businesses around the world would suffer from climate change, because of damage to factories, and supply chains due to extremely severe weather brought on by global warming. Water will become more expensive because of climate change through global warming droughts. This could send water prices soaring to 8000 dollars a year or more in some regions affecting the economy. New regulations for climate change have already shut down the Keystone Pipeline and could cause businesses to spend more on products which could affect world economies. Rolling blackouts like the one in Pakistan and Italy could become the norm in a climate-induced world of global warming. Too much heat and the enhanced consumer use of cooling products could shut down the power grid.
The rising heat could cause more people to die because of climate change because of global warming. If this occurs millions to billions of dollars worldwide would be spent on healthcare of the sick from too much heat. This would impact the economy tremendously by losing that type of money because of sickness. Also, mosquitoes located in Florida and other southern states that produce West Nile Virus could cause the economies across these states to suffer as temperature rises because of global warming. As temperatures rise, these mosquitoes could migrate further north enhancing an economic healthcare threat into the whole of the USA.
Warming temperatures, droughts, heavier precipitation, and extreme weather events, will produce a negative spin on the world’s economic infrastructure. The economy will face a severe challenge because the global warming situation will be long-term. The capital stock will decline because people will feel there is no use in replacing things that will be destroyed again and again. Riots can be expected when food and water shortages become the norm by global warming. This in turn would affect the economy because of the destruction of stores that help sustain the economic way of life across the world. Higher prices of food and water supplies across the world would cause higher prices and lead to deaths of starvation. This is especially likely in Africa and other third-world countries.
Energy costs will increase worldwide due to the heat produced by greenhouse gasses through global warming. Insurance costs are climbing higher and soon one may not be able to afford a new car because of these high level insurance rates from hurricanes and other storms that impact insurancehurricanecarriers. As insurance carriers pay off extreme destruction from severe weather events it will fall back on insurance rates for car owners. The Governor of the Bank of England says climate change is one of the most realized threats to the global economy through the insurance industry.
Economies across the world near shorelines will be affected by hurricanes and tremendous flooding. This will impact the world economies because of loss. Snow loss in areas that rely on this water from melting will be in severe trouble because of climate change, through loss of water supply. However, northern latitudes such as Canada and Russia could actually develop more crops and this could be a benefit to them through climate change. Even so, as the warming continues these areas could end up with the same heartaches as the rest of the world.
References
Cho. R. (December 27, 2019). 10m Climate Change Impacts That Will Affect Us All. Earth Institute Columbia University. lhttps://blogs.ei.columbia.edu/2019/12/27/climate-change-impacts-everyone/
Cho. R. (June 20, 2019). How Climate Change Impacts the Economy. Earth Institute Columbia University. https://blogs.ei.columbia.edu/2019/06/20/climate-change-economy-impacts/
Wade. K. (2014). The impact of climate change on the global economy. Schroders. https://www.schroders.com/en/sysglobalassets/digital/us/pdfs/the-impact-of-climate-change.pdf