Tag Archives: Algeria

Citing $69 Trillion Price Tag by 2100, Moody’s Warns Central Banks of Far-Reaching Economic Damage of Climate Crisis

“There is no denying it: The longer we wait to take bold action to curb emissions, the higher the costs will be for all of us.”

By Jessica Corbett, staff writer for Common Dreams. Published 7-3-2019

Arid soils are shown in Mauritania in 2012, when crops failed because of a severe drought which led to a food crisis that impacted millions of people across West Africa. (Photo: Oxfam International/Flickr/cc)

Noting previous warnings that the human-caused climate crisis could cause trillions of dollars in damage to the global economy by the end of the century, a new report from Moody’s Analytics explores the economic implications of the international community’s failure to curb planet-warming emissions.

Moody’s Analytics chief economist Mark Zandi told The Washington Post—which first reported on the new analysis—that this is “the first stab at trying to quantify what the macroeconomic consequences might be” of the global climate crisis, and it comes in response to European commercial banks and central banks. The climate emergency is “not a cliff event. It’s not a shock to the economy. It’s more like a corrosive,” Zandi added. But it is “getting weightier with each passing year.” Continue reading

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Protests in Algeria intensify as shale-gas drilling continues

The ongoing anti-shale gas protests in southern Algeria look increasingly like a head-to-head confrontation between the Algerian government and a well-organised, conscious population.

Algerians protest shale gas drilling, tensions build as government ignores them. Image via Twitter.

Algerians protest shale gas drilling, tensions build as government ignores them. Image via Twitter.

By RACHIDA LAMRI , Published 02-13-15 in OpenDemocracy

Despite the ongoing anti-shale gas protests in the province of Ain Salah in the great Algerian south, the Algerian government is pressing ahead with its shale gas development plans, according to Mr. Said Sahnoun, head of state-owned oil company Sonatrach.

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