In light of the recent spikes in the fuel prices, are we yet at the tipping point of paying for the true cost of energy? True cost – it goes beyond the cost to explore, produce, refine and transport. True cost includes the price to the environment short-term and long-term.
In a recent article from the Executive Director of the American Security Project (ASP), a nonprofit, bipartisan national security think tank in Washington D.C., James Ludes discussed the costs of inaction.
“We’re going to pay a price for climate change, whether we try to slow it or not. The data tells us that the cost of doing nothing will far out-weigh the cost of action.”
The article is worth the read as it attempts to quantify the future environmental impacts of climate change – droughts, severe storm damage, flooding, coastal erosion, and drinking water supply to the US economy. The answer it presents is investing in green technology, which would also bolster economic growth.