It is estimated that it will cost trillions of dollars over the next few decades. The International Energy Agency estimates that between 2010 and 2030, it will cost the United States more than 10 trillion dollars just in changing energy infrastructure. While these numbers seem very high “the costs would ramp up relatively slowly and be largely offset by economic benefits in new jobs, improved lives, more secure energy supplies”. The costs also only make up a small percentage of the world’s economy.
However, the problem still exists over which country is going to pay how much money to fix the world’s climate problems and where in the world is the money going to be spent. Smaller countries are arguing that those larger, wealthier countries should pay the most to help the smaller underdeveloped countries. Developing countries are also arguing that they should receive money to aid their economies that will be hurt by carbon emissions restrictions.
President Obama, meanwhile, has stated that the United States will pay its “fair share”. It is expected that the United States will pay a third to a quarter of the costs of the council. “‘Providing this assistance,’ the White House statement said, ‘is not only a humanitarian imperative — it’s an investment in our common security, as no climate change accord can succeed if it does not help all countries reduce their emissions.”’ The Copenhagen meeting end on December 18th and President Obama will attend the meetings.
As the committee draws to a close, much of what is being discussed focuses around where the money to pay for the large price tag will come from. In the United States it is estimated that 20 to 30 billion will come from fuel taxes. However, over 200 billion will be needed in the next couple decades to combat climate change.
http://www.nytimes.com/2009/12/09/science/earth/09cost.html?pagewanted=2&ref=earth
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