Higher Energy Consumption
The economic impact of global warming is far reaching and it affects our day to day activities. For instance, in many parts of the world, summers can be excruciatingly hot. Although there are many people who can stand the heat without fainting or having heat strokes, many people are not that lucky. To dispel the heat and to make their homes more comfortable, people turn up their air conditioners and leave them on for most parts of the day and night. Since these air conditioning units run on electricity, people end up paying more money for their electric bills. Higher energy bills can erode the family budget to some degree. This is but a simple illustration of how the economic impact of global warming can affect ordinary citizens like you and me.
If you take a look at the larger picture of things, you may notice how the increase in the demand for energy can affect the environment and erode the economy. Studies show that as the earth heats up, we may have to use up more energy to live comfortably. Many experts agree that the economic impact of global warming can be catastrophic if left uncheck.
Lower Farm Production
The economic impact of global warming can be seen in many farms around the world. We must understand that global warming does not just affect human beings, it affects all living things. In fact, studies show that the impact of global warming on animals can be more severe than its impact among humans. Wild animals are especially vulnerable to severe climate changes. Since these animals are left to fend for their own, they are often exposed to great danger.
On the other hand, farm animals as well as their owners also suffer much from changes in the weather. Physical growth of farm animals is often affected by severe weather changes and when this happens, farmers lose money. If this cycle continues, some farmers may end up closing their farms and move on to another business.