Economists estimate the total cost of decarbonizing the world economy to be about 1% of global GDP.
Stern Review of Climate Change Economics (2006)
William Nordhaus won the 2018 Nobel Prize in Economics for this kind of work.
GDP = the total value of all goods and services in the world = about $85 trillion per year in 2019.
1% of that is $850 billion/yr
For context, the US Senate just agreed to boost the defense budget to $738 billion/yr.
Burke et al (2015) estimate that unmitigated global warming will cost 20% of world GDP by 2100.
It will cost 20x more NOT to decarbonize!
Oil & Gas: We spent more than $2 trillion in 2017.
The International Monetary Fund estimates hidden costs of fossil fuels ABOVE AND BEYOND the retail price are about $4.7 TRILLION/YR (5.5% of GDP)
(IMF calls these "subsidies")
Not only is preventing global catastrophe cheaper than oil & gas, and not only does it pay off better than 20-to-1,
doing this will create all the jobs and prosperity in the coming decades!
We're not going to stop doing that, no matter what anybody says.
But God I sure hope not!
What a grim & hopeless view of the meaning of human history!