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At the World Economic Forum's annual meeting in Davos last month, leading participants called for a rapid shift to cleaner energy to tackle climate change.Similarly, Gurria tells us that Hurricane Sandy, which slammed into New York City in 2012, is an example of inaction on climate change, costing the United States "the equivalent of 0.5 percent of its GDP" each year.Global warming is a long-term problem. Most models indicate that the cost toward the end of the century will be 1-5 percent of world GDP. The fact remains that global wind and solar power usage in 2012 cut, at most, 275 million tons of carbon-dioxide, while soaking up $60 billion in subsidies.This has cut about 300 million tons of U.S. emissions – more than all the world's solar and wind power combined – and at the same time has profited Americans by saving them $100 billion in energy costs.Lifting billions of people out of poverty, however, would not only be intrinsically good; it would also make societies much more resilient in the face of extreme weather, whether caused by global warming or not.
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