Co-Author of Chilling Climate Change Report Warns of Imminent Threat to Economy
*By Christian Smith*
If you didn't find this weekend's dramatic climate report unsettling, read it again.
Andrew Light, distinguished senior fellow at the World Resources Institute and co-author of the report, said on Cheddar Monday that the effects of climate change are imminent ー unless the federal government acts now.
"It is threatening almost every sector of the economy ー of course more so those sectors that are dependent on natural resources," Light said.
"We should start moving with the most effective and efficient policies that can begin switching our energy sources in earnest from fossil-fuel based to non-fossil fuel based, and also begin to lead the entire country on measures towards adaptation and resilience."
The Trump administration released its dire findings on the Friday after Thanksgiving, timing many have called suspicious ー among them, Politico reporter Matt Daily, who thinks officials meant to bury the news on a holiday weekend.
"I don't know if burying it on Black Friday was a very successful tactic," Daily told Cheddar, noting that the attempt to downplay the news only handed environmental advocates a new line of criticism against the administration.
The [National Climate Assessment](https://nca2018.globalchange.gov/), which is required by federal law to be published every four years, found that climate change will cost the American economy hundreds of billions of dollars by the end of the century and will endanger thousands of American lives each year. The White House issued a [statement](https://www.nytimes.com/2018/11/25/climate/trump-climate-report.html) saying that the report, which was instituted under the Obama administration, was "largely based on the most extreme scenario” of global warming.
Daily disagreed.
"That's a bit of a stretch, to put it mildly," Daily said. "The report offers quite a wide range of what's possibly coming our way by the end of the century."
Light noted that some states and cities were already moving in the right direction ー but he added the federal government needs to take the lead.
"The U.S. federal government is not leading even though we are seeing states and cities do quite a lot," Light said.
Stock trading app Robinhood already has been offering cryptocurrency investments but seems further excited about the asset class following President Biden's recent announcement of an executive order. Dan Gallagher, the chief legal and corporate affairs officer for Robinhood, joined Cheddar News to talk about the White House's tentative vision for digital currency. "I think this executive order firmly states that, yes, crypto is here to stay, which it talks about the important competitive issues around crypto and how the United States needs to be a leader, a global leader, in innovation and technology regarding crypto," he said. Gallagher also discussed having clarity around meme stocks going forward but worried about overregulation slowing down innovation.
As Russia’s attack on Ukraine, the latest inflation report showed the consumer price index rose 7.9 percent — a 40-year high. Heather Boushey, a member of the White House Council of Economic Advisers, joined Cheddar News to discuss what American consumers might be in store for as prices keep rising. "Forecasters at this point believe that the American economy will be resilient," she said. "They’re still predicting that the unemployment rate will continue to be lower at the end of the year than it is today, and we are still seeing folks believe that over time prices will come back down." Boushey did note that it would be dependent on how long the current situation lasts.
Simon Shuster, TIME's Moscow correspondent joins Cheddar to discuss how Ukraine could become part of the EU and what it would mean for politics in Europe.
President Biden has banned imports of Russian oil to the U.S. in retaliation for its invasion of Ukraine. The president warned of higher prices at the gas pump, leading some analysts to think it could propel the transition to clean, renewable energy. Michael Jones, chairman and CEO of investment solutions company Caravel Concepts, discussed how the ban is hitting green energy stocks as gas prices continue to surge. "I think the 10-year prospects for renewables just got a whole lot better because ultimately this is going to force a transition into renewables," he said.
Amid ongoing tensions in the Russia-Ukraine region, many American travelers are nervous about traveling to Europe.
It comes at a time when international travel was set to make a comeback, but uncertainty surrounding the conflict may delay the overall recovery. Francesca Page, Travel Expert, joined Cheddar's Opening Bell to discuss.
Russia's invasion of Ukraine is coming for the global food supply. Ongoing tensions in the region are threatening the supply of various agricultural products including wheat, barley and corn. Vladik Rikhter, CEO & Cofounder of Zenput joined Cheddar's Opening Bell to discuss how this could impact food prices overseas.
Chris Natividad, CIO of EquBot, joins Cheddar News' Closing Bell, where he elaborates on what ultimately dragged the Dow, S&P, and Nasdaq lower on Tuesday and discusses how investors are reacting to rising oil prices and February CPI data coming out later this week.
Adam Johnson, Portfolio Manager at Adviser Investments, joins Cheddar News' Closing Bell, where he explains why he believes we saw markets jump during Wednesday's session, and adds that investors have already priced in 'every possible kind of bad news we could have.'
Jennifer Klein, the White House Gender Policy Council's co-chair and executive director, spoke to Cheddar News about the economic impact of the pandemic showing the need for a group like the Gender Policy Council, and the need to address issues that have affected women the most,
