White House: curb greenhouse gas emissions now or lose billions.

Washington Post: “The White House issued a report Tuesday warning that the United States could face billions of dollars in added economic costs if it delays action to curb greenhouse gas emissions linked to climate change. According to the report, each decade of delay will make it 40 percent more expensive to eventually reach the identical global climate target.”
“The analysis, issued by the president’s Council of Economic Advisers, comes at a time when the Obama administration is struggling to incorporate the costs associated with global warming into its energy decisions. Environmental groups have been pressing the administration, in court as well as through public advocacy efforts, to factor in the environmental impact of increased carbon dioxide emissions when it issues coal, oil or natural gas leases on federal lands.
The administration, which is kicking off two days of public hearings in four cities this week on its proposal to curb greenhouse gas emissions from existing power plants, has been emphasizing the costs of inaction in recent weeks. Environmental Protection Agency Administrator Gina McCarthy told reporters Monday in a conference call that the agency had already received more than 300,000 comments on the draft rule.
Even corporate groups such as the Business Roundtable, she said, welcomed the move to cut carbon emissions from utilities. “They know that the biggest danger we have is to not take action now,” said McCarthy, whose agency will hold sessions in Atlanta, Denver, Pittsburgh and the District.
….The Council of Economic Advisers based its findings on 16 studies that incorporated a range of economic models. It concluded that a globaltemperature rise of 3 degrees Celsius (5.4 degrees Fahrenheit) as opposed to a rise of 2 degrees Celsius (3.6 degrees F) “could increase economic damages by approximately 0.9 percent of global output. To put this percentage in perspective, 0.9 percent of estimated 2014 U.S. Gross Domestic Product (GDP) is approximately $150 billion.”