U.S. to face multibillion-dollar bill from climate change: report

These are among the economic costs that climate change is expected to exact in the United States over the next 25 years, according to a bipartisan report released on Tuesday. Commissioned by a group chaired by former New York City Mayor Michael Bloomberg, former Secretary of the Treasury and Goldman Sachs alum Henry Paulson, and environmentalist and financier Tom Steyer, the analysis "is the most detailed ever of the potential economic effects of climate change on the U.S.," said climatologist Michael Oppenheimer of Princeton University. The report lands three weeks after President Barack Obama ordered U.S. regulators to take their strongest steps ever to reduce greenhouse gas emissions, including requiring power plants to cut carbon dioxide emissions to 30 percent below 2005 levels by 2030.

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