Report: Climate change will cost America hundreds of billions by 2100

ArabiaWeather.com - Annual property losses in the United States of America are estimated at $35 billion due to hurricanes and coastal storms , in addition to a 14% decline in agricultural yields, which costs corn and wheat growers tens of billions of dollars.

Heat waves also increase the demand for electric power, costing utility customers up to $12 billion annually.

These are some of the economic costs that climate change is expected to cause in the United States over the next 25 years, according to a bipartisan report released Tuesday.

And these remain preliminary numbers, as the bill could reach hundreds of billions by 2100. Princeton University environmental scientist Michael Oppenheimer described the analysis commissioned by a group headed by former New York mayor, ex-treasurer and environmental activist Tom Steyer as "the most ever detailed on the potential economic impacts of climate change on the United States."

The report came three weeks after President Barack Obama directed US executives to take the strongest possible measures to cut greenhouse gas emissions, including requiring power plants to cut carbon dioxide emissions by 30 percent from 2005 levels by 2030.