Barack Obama becomes mocker-in-chief on climate change skeptics – “…but if I say so out loud, I will be run out of town by a bunch of fringe elements that thinks climate science is a liberal plot so I’m going to just pretend like, I don’t know, I can’t read,” Obama said.

Barack Obama becomes mocker-in-chief on climate change skeptics - “...but if I say so out loud, I will be run out of town by a bunch of fringe elements that thinks climate science is a liberal plot so I’m going to just pretend like, I don’t know, I can’t read,” Obama said.

 

Best quote: “the debate on climate change should not be whether or not it exists, but what we should do about it.” The EPA among others have studied the social cost of carbon (cost of doing nothing) and peg it around $60 per ton of CO2 by 2030. In the same year, the year of maximum emission reductions under the EPAs recent emission reduction plan, we would have ~550 million tons of emission reductions. page ES-5 That is equivalent to saving $33 billion in global damage. The US would incur about 10% of global damage from climate change, or about $3.3 billion. The EPA estimates the plan will cost about $9 billion in 2030, others say $50 billion. Either way, everyone agrees that benefits do not exceed the current costs. The rational policy is therefore to invest this $9-50 billion into scientific research towards better alternative energy supplies. The cost of solar panels is currently decreasing about 4% per quarter. At around $0.20/kwh compared to $0.12/kwh for coal, we have a break even cost basis in approximately 3 years from now. Shortly after, itll be cheaper and the problem will go away on its own because people are greedy. What exactly is the government trying to accomplish by instituting regulations that are more costly than their benefits when the market seems prepared to reduce CO2 significantly on its own? Why not just invest in science to accelerate that?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s