How a 60 Trillion dollar loss due to arctic meltdown will be a small gain to shipping Industry?

The leakage of methane from thawing shoreline will cause major economic and natural disasters to the world. When a scientist put an economic cost due methane (a powerful green house gas) leakage, they calculated a value of 60 Trillion dollars which is approximately the size of global economy in 2012. This is due to Rise in water level, change in temperature, agricultural loss and loss to human health. The twenty years of methane release from 2015 to 30 will costs 60 trillion dollars approx. Also mean temperature exceeds over 2 degree Celsius about 15 to 35 years.

Prof.Gail Whiteman at Erasmus University, Netherlands said this as an economic time bomb. He is the one of the author who published the paper. It also said that impact will be most likely felt by developing countries.

But How there is a small gain to shipping?

If the arctic melts down, there is more water area so there is more area for the ship to transport. But this is not the case. It is believed that 30 % of gas and 13 % of oil is present in that area. According to Lloyds of London, investment in the Arctic could reach $100bn within ten years.

The need for the world to wake up is very important. And we all have to think about someone living in the small islands in the pacific and Atlantic ocean. Do we going to adopt the island or pay some check to people living in islands? Someday islands will be vanished due to rise in water level. Need for alternate green energy is very important.

News Source : BBC

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