This may not be strictly finance, but it is something that I have often wondered (but never investigated): if global warming happens, what will be the net effect on energy consumption?
I would imagine that people will use more electricity for air conditioning and probably drive more, but will this be offset by lower heating expenditures?
Mansur, Mendelsohn, and Morrison say no. In fact they predict that energy usage will go up.
SSRN-A Discrete-Continuous Choice Model of Climate Change Impacts on Energy by Erin Mansur, Robert Mendelsohn, Wendy Morrison: "The model implies that warming will increase American energy expenditures, resulting in welfare damages that increase as temperatures rise."
And now back to your regularly scheduled programming.