Lots of methane gas is trapped under the surface of the East Siberian Arctic ice shelf. If the billions of tons of gas are released, it could cost the world an estimated 60 trillion dollars.
Lots of methane gas is trapped under the surface of the East Siberian Arctic ice shelf.
If the billions of tons of gas are released it could cost the world an estimated 60 trillion dollars, and raise global temperatures by more than 1 degree Celsius, according to estimates from researchers at the University of Cambridge working with a climate policy analyst from Erasmus University in Rotterdam.
The rate of ice melting in the Arctic means that this problem could happen at any time.
One estimate says that about 10 million tons of methane is being released into the atmosphere from the Arctic shelf every year, contributing to factors associated with climate change.
If efforts are made to release fewer greenhouse gases in to the atmosphere, the projected cost of dealing with the methane goes down to 37 trillion dollars.
Richard Tol, a professor of economics from the University of Sussex said: “The numbers in this paper are exaggerated. The 37 trillion to 60 trillion dollars seems like a big number ... but it is the cost over the next two centuries.”
Climate change caused by greenhouse gases has been connected with environmental problems like rising ocean levels, drought and severe weather like tropical storms.