POSITIVES: tourism possibilities. Nice schadenfreude for those who
haven’t bought a trillion dollar house on the Sydney coastline.

general positive: In fact, current CO2 levels
are less than half the plant-optimum which means that the increasing
concentrations of CO2 in the atmosphere may actually increase plant

“It’s the positive side of global warming…”

Economics is the study of trade-offs: Costs versus benefits, wants versus
needs. We have all heard about the costs of global woarming. Today, the
New York Times reports on some of the benefits.

Even before the polar ice began shrinking more each summer, countries were
pushing into the frigid Barents Sea, lured by undersea oil and gas fields and
emboldened by advances in technology. But now, as thinning ice stands to
simplify construction of drilling rigs, exploration is likely to move even
farther north.

Last year, scientists found tantalizing hints of oil in seabed samples just
200 miles from the North Pole. All told, one quarter of the world’s undiscovered
oil and gas resources lies in the Arctic, according to the United States
Geological Survey.

The polar thaw is also starting to unlock other treasures: lucrative shipping
routes, perhaps even the storied Northwest Passage; new cruise ship
destinations; and important commercial fisheries.

We all know that global warming has its costs. But as an economist,
I am forced to recognize the benefits too. Do the benefits outweigh the costs?
I doubt it, but who knows. It’s all about the trade-offs.


A positive to the consequence
of warmer temperatures worldwide can be seen in recreational sports. As
long as the weather is warm people will be more likely to go outside
and get some exercise. Although it is an assumption that people like
warmer weather oppose to cold weather it has been shown that it is
better on joints when they are warm. Another benefit is that people
will be able to save money on heating their homes. Because the
temperature will be higher they won’t have to compensate by using their
heating elements to heat their homes. The travel industry will be given
a boost as many colder spots would be more attractive because most
climates would be hot. With the ever growing global warming it would
perpetuate the need for some kind of tool to make use of the added heat
and sun rays for generating energy and electricity.