Economic impact of climate change

BOSTON, Mass. (WWLP) - Severe storms are costing Massachusetts nearly $2 billion dollars in insurance claims every year, according to a Cambridge-based think tank "Better Future Project." A new report released by the non-profit ran simulations of future storm patterns and predicts storm damage costs could balloon to almost $250 billion dollars by 2060.

“People should be both worried and hopeful,” said Craig Altemose, the executive director of Better Future Project.  “We really need to be taking this problem seriously because again climate change is coming our way, we’ve already seen it.  98 percent of climate scientists agree that climate change is real and that it’s happening.”

In Massachusetts, scientists believe climate change is already impacting agriculture.  They say warmer waters are forcing earlier lobster catches and unpredictable weather is forcing smaller crops.

Governor Deval Patrick agrees that fluctuating weather has impacted this year’s harvest.  “Apple growers for example had a lot of blossoms at the very beginning and then an early frost, and that has affected the apple harvest,” said Patrick.

Lawmakers say droughts across the country could raise food prices.

“There is a climate change food tax, which is being paid by all consumers across the country,” said U.S. Rep. Edward Markey (D-MA7).

The report makes dire predictions about ocean levels and the future impact of severe weather in the Commonwealth.

Some scientists believe there's little, if anything, that can be done to slow down climate change.  Nevertheless, the report is hopeful Massachusetts will focus on renewable energy sources, making the Commonwealth kinder to the environment.