Climate Change Could Cost US Gulf Coast Billions: Study

The joint research by insurance firm Swiss Re and energy company Energy Corporation warns that Texas, Louisiana, Mississippi and Alabama face annual losses of two to three percent of GDP by 2030 if they fail to act.

"Wind and storm surge damage today already amounts to an average 14 billion dollars per year in the region," said the study, which was released as the Gulf region commemorated six months since the start of the BP oil spill. Read the full report here.

Source: AFP, Times of India, Washington.