Another Field Day for Doomsday Theorists
Tuesday, October 31st, 2006
Not much time, so here are the main points. As usual, more bleaker news of the future.
First up, another H5N1 strain has been discovered in China. A descendant of an earlier strain first found in Fujian, China (hence the name ‘Fujian-like strain’) has been uncovered in the Middle Kingdom and its prevalence in poultry is dramatically increasing. Ironically, the very measures put in place by the Chinese government to stem the H5N1 threat are inducing an artificial selective advantage favouring the new strain. So far, it does not have increased virulence, but all human cases in the past year have been attributed to this strain. The main problem lies in the fact that both antibodies created by avian and human vaccines do not recognise the new strain, so if this is going to mutate into the real McCoy we’re going to be in deep trouble. Based on its predecessors, it’s likely that it will just start a third epidemic wave and thrust H5N1 back into the media spotlight.
On an unrelated note, United Kingdom chief economist Sir Nicholas Stern, former chief economist at the World Bank and an adviser to the British chancellor Gordon Brown has just released a 600 page report predicting the impact of global warming on the world economy. The report notes that previous economic studies has underestimated the future rise in global temperatures, and when adjusting for a more accurate projection it is found that the warming phenomenon could slash global GDP by up to 20%.
Among other things, he predicts
huge disruption to African economies in particular as drought hits food production; up to a billion people losing water supplies as mountain glaciers disappear; hundreds of millions losing their homes and land to sea level rise; and potentially big increases in damage from hurricanes. The economic cost of failing to act could approach $4 trillion by the end of the century, he says (emphasis added).
Is there any way to avoid an economic disaster of a scale never seen since the Depression or the Second World War? Yes and the price is far cheaper than what you may imagine.
Stern calls for a global investment of about 1% per year of global GDP over the next 50 years. He says that should stabilise greenhouse gas concentrations at the equivalent of 500-550 parts per million of carbon dioxide, 25% above current levels. This is a level he regards as “high but acceptable”.
It’s not dirt cheap, but it’s still far better than the consequences of doing nothing. Like they say, prevention is better than cure.
However, note that this will not completely mitigate global warming effects.
On the positive side, countries could reduce this loss to 1% by investing in more environmentally friendly technologies, according to the report.
To quote Churchill, we are entering a period of consequence, and there is a price to pay. The question is would we choose to pay more or less?
