Re: A 600% Gain in Carbon Prices Vital to Keep Global Warming at Bay
What various plans for carbon reduction fail to take into account is that worldwide output is what matters. A local reduction is worthless if it if offset by an increase elsewhere. Wiping out ALL greenhouse gas emissions in the U.S. and Europe will not compensate for the expected growth in China and India over the next decade. Furthermore, greenhouse taxes and restrictions are pushing more manufacturing to shift to countries with looser policies. In particular, we are forcing companies supplied with natural gas fired power plants in the U.S. to shutdown and be replaced by companies powered by coal fired power plants in China.