Arctic ice melting could cost global agriculture, real estate and insurance anywhere from US Dollar 2.4 trillion to 24 trillion by 2050 in damage from rising sea levels, floods and heat waves. According to a new report, everybody around the world is going to bear these costs. Eban Goodstein, a resource economist at Bard College in New York state who co-authored the report, called Arctic Treasure, Global Assets Melting Away, said the report, reviewed by more than a dozen scientists and economists, provides a first attempt to monetise the cost of the loss of one of the world's great weather makers. He said, the Arctic is the planet's air conditioner and it is starting to break down.