Map of New York City if sea levels rise 3 meters (areas underwater are in light blue).
It could cost more than $120 billion to protect New York City from rising seas and storm surges expected by the end of this century, according to a Rutgers University expert on climate change effects on sea level.
But the risk to New York is even higher: almost $170 billion in property losses alone.
Bob Kopp, associate director of the Rutgers Energy Institute, offered what he called this “rough guesstimate” of costs at the University of Chicago last week in response to queries by Chicago economics professor Michael Greenstone, former chief economist for President Obama’s Council of Economic Advisers.
“You know we’re going to spend every single dollar to protect Manhattan,” Greenstone said.
Kopp outlined the risks before he priced the solution.
“In New York City itself you’ve got about $170 billion worth of property (at risk), which is why Michael says we’ll spend anything to protect it,” […]
This is an example of the logical fallacy of consequences. “If we don’t act now something terrible will happen in the future.” Has anyone actually done the math about how much water is actually in the current stock of ice? Is it enough? There are no facts of about the future. One can imagine all sorts of things that never come true.
When you use the phrase “climate change deniers” you are practicing the propaganda technique of name calling. Ocean rise will mean that the value of my house in the Mission District of San Francisco will rise. People who have homes in the projected flooding area should move to higher ground now rather than waiting for the panic.
If I could afford to move, it would be to Germany or some other, better country than this one which has been devastated by the consequences of “Free Trade” capitalism.