F1 values vs Climate Change

I'm sure this is not the mainstream opinion...and unfortunately so because its a reflection of where our values lie. I think the F1 is completely contrary to any attempt to fight climate change. Here we are spending 90 million dollars on building a track, gantries, barriers, extensive lighting to the point that you'd actually forget it was a 'night race' because its as bright as day, and pumping yet more carbon into the atmosphere, wasting petroleum as it is pumped into high velocity race cars which are basically going round and round on a track for the sole purpose of entertainment for what is mainly the rich and middle class. When the world financial system is poised on the edge of a meltdown, fat cat CEOs are getting away will millions of dollars in compensation for FAILED policies and we now have runaway climate change, this is akin to fiddling while Rome burns. How will history remember us? Massive expenditure on parties, catering mainly to rich celebrities who have flown in, expending more carbon. So whats the REAL cost of hosting this race here? not in mere dollars, but in carbon, in wasted electricity, petrodollars, lost business because of road closures....lets have a figure for that!