Charles Dumas of Lombard Street Research says that ending global warming would cost half of the world's GDP.
"It follows from any cost-benefit analysis that nobody is going to do anything serious about global warming," he says.Case closed. Do a little to slow it – perhaps. But, the real truth is that we'll just have to deal with a warmer planet. It's happened before and people survived, why can't we imagine surviving today?
"The cost of any serious measures would be orders of magnitude greater than whatever is needed by way of defences against a 15-foot rise in sea levels and freak weather insurance.
"In reality, no-one seriously proposes a cure for global warming, because adequate measures would cause economic catastrophe and probably world war. We are going to have to live with it," Mr Dumas says.
