The Cost of Sea Level Rises: Two Trillion Per Year

Rising sea levels are not only imperiling people, the cost to property and infrastructure amounts to trillions of dollars a year. However, if governments act now they can significantly reduce the costs associated with sea level rises. Failure to act soon will cause the costs to increase exponentially.

According to a study from the Stockholm Environment Institute called “Valuing the Oceans”, if the rise of greenhouse gases continues to go unchecked, it will result in lasting damage that will cost $2 trillion each year.

The Costs of Oil: BP Liable for up to 90 Billion

BP has been ordered to pay an unprecedented 4.5 billion in fines as the costs of their 2010 oil fiasco in the Gulf of Mexico continue to mount. On Thursday November 15, 2012, BP pleaded guilty to 14 felony counts related to the explosion and subsequent oil spill at the site of its Deepwater Horizon oil rig. The plea agreement with federal prosecutors includes charges of manslaughter for the 11 workers who were killed and one felony count for obstruction of justice for false statements made to Congress about the amount of oil leaking from the out-of-control well.

The breakdown of the 4.5 billion in fines is as follows: