The unprecedented decline in Arctic sea ice could cause the catastrophic release of methane, imperiling the world's climate and economy, reports a new paper published in the journal Nature.
"Rapid thawing of the Arctic could trigger a catastrophic 'economic timebomb' which would cost trillions of dollars and undermine the global financial system, say a group of economists and polar scientists."
"Governments and industry have expected the widespread warming of the Arctic region in the past 20 years to be an economic boon, allowing the exploitation of new gas and oilfields and enabling shipping to travel faster between Europe and Asia," notes John Vidal. "But the release of a single giant 'pulse' of methane from thawing Arctic permafrost beneath the East Siberian sea 'could come with a $60tn [£39tn] global price tag', according to the researchers who have for the first time quantified the effects on the global economy."
"Even the slow emission of a much smaller proportion of the vast quantities of methane locked up in the Arctic permafrost and offshore waters could trigger catastrophic climate change and 'steep' economic losses, they say."
UPDATE: A blogger for The Washington Post, and others, have commented on the implausibility of the "methane pulse" scenario. See the back and forth here, at The New York Times' Dot Earth blog.
FULL STORY: Rapid Arctic thawing could be economic timebomb, scientists say

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Ken Jennings Launches Transit Web Series
The Jeopardy champ wants you to ride public transit.

California Invests Additional $5M in Electric School Buses
The state wants to electrify all of its school bus fleets by 2035.

Austin Launches $2M Homelessness Prevention Fund
A new grant program from the city’s Homeless Strategy Office will fund rental assistance and supportive services.

Alabama School Forestry Initiative Brings Trees to Schoolyards
Trees can improve physical and mental health for students and commnity members.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Ada County Highway District
Clanton & Associates, Inc.
Jessamine County Fiscal Court
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service