13 December 2009
Environmental Shakedown?
In his recent commentary online (cf. http://www.realclearpolitics.com/articles/author/charles_krauthammer)
Charles Krauthammer accuses the emerging market countries at the Copenhagen Climate Control summit of ganging up on the Western liberal democracies to get compensation for the cost of adopting carbon emmssion controls. There's no doubt that the economic basis of our advanced Western societies will have eventually to be revolutionized. Do it now or do it under more pressure later. I don't begrudge Obama for playing hardball with Congress by using the EPA card. If Congress wants to control CO2 emissions some other way, let it.
In any case, the industrial democracies have enjoyed rapid economic growth over the last 200 years without restrictions on carbon emissions. The greenhouse gas problem has only been realized lately. It is, however, a universal problem and has raised the cost of economic development generally. Therefore, the same rationale applies to financing the cost of reducing CO2 emissions in the emergent economies as to financing their economic development--wealthier third world partners make better customers and suppliers for the West, and greener third world countries make the planet a healthier environment for the Western societies, too. N.B. The cost of reducing carbon emissions in emergent markets should be financed through long-term bonds of some sort, rather than through grants. Eventually, they will be paid back by all of us, in higher prices and reduced profits--there ain't no such thing as a free lunch.
In his recent commentary online (cf. http://www.realclearpolitics.com/articles/author/charles_krauthammer)
Charles Krauthammer accuses the emerging market countries at the Copenhagen Climate Control summit of ganging up on the Western liberal democracies to get compensation for the cost of adopting carbon emmssion controls. There's no doubt that the economic basis of our advanced Western societies will have eventually to be revolutionized. Do it now or do it under more pressure later. I don't begrudge Obama for playing hardball with Congress by using the EPA card. If Congress wants to control CO2 emissions some other way, let it.
In any case, the industrial democracies have enjoyed rapid economic growth over the last 200 years without restrictions on carbon emissions. The greenhouse gas problem has only been realized lately. It is, however, a universal problem and has raised the cost of economic development generally. Therefore, the same rationale applies to financing the cost of reducing CO2 emissions in the emergent economies as to financing their economic development--wealthier third world partners make better customers and suppliers for the West, and greener third world countries make the planet a healthier environment for the Western societies, too. N.B. The cost of reducing carbon emissions in emergent markets should be financed through long-term bonds of some sort, rather than through grants. Eventually, they will be paid back by all of us, in higher prices and reduced profits--there ain't no such thing as a free lunch.
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