Why Africa Needs Fossil Fuels

The almost four billion extra tons of CO₂ emitted over the next 25 years would cause about $140 billion in damage from global warming, using the US official (though, likely somewhat exaggerated) social cost figure. The increase in coal use would lead to more air pollution, costing about $30 billion during this period. At the same time, Africa would become almost $7 trillion richer. Indoor air pollution would essentially be eliminated for about 150 million more people, with social benefits worth nearly $500 billion. And power would reach 230 million extra people, generating benefits worth $1.2 trillion. In other words, the total costs of the “African Century,” including climate- and health-related costs, would amount to $170 billion. The total benefits, at $8.4 trillion, would be almost 50 times higher.