The cost to the world from melting Arctic ice is equal to almost a year of global economic output as releasing methane trapped in the frozen continent leads to extreme weather, flooding and droughts, scientists said. The methane emissions are an “economic time-bomb” that may cost $60 trillion from effects on the climate, according to research published today by the University of Cambridge and the Rotterdam School of Management at Erasmus University. Extreme weather events would mainly affect developing nations. The research in the scientific journal Nature follows plans by companies including Royal Dutch Shell Plc ... (full story)