Beam me to Planet Gore !
Posted on 04/17/2008 12:10:58 PM PDT by MplsSteve
I was filling out my DuPont proxy this morning and came across a shareholder proposale regarding global warming. At first I rolled my eyes and then laughed when I read it.
This proposal is right up the alley of any Freeper who doesn't believe in global warming.
If you have Dupont common stock or know someone who does, tell them it and remember to vote YES on Proposal 4!
The Free Enterprise Action Fund, owner of 776 shares of DuPont Common Stock, has given notice that it will introduce the following resolution and statement in support thereof:
Resolved: The shareholders request that the Board of Directors prepare by October 2008, at reasonable expense and omitting proprietary information, a Global Warming Report. The report may describe and discuss how action taken to date by DuPont to reduce its impact on global climate change has affected global climate in terms of any changes in mean global temperature and any undesirable climatic and weather-related events and disasters avoided.
Stockholder’s Statement
DuPont says on its web site that it supports action on global warming. DuPont is a member of the U.S. Climate Action Partnership (USCAP), a group that lobbies for global warming regulation.
But scientific data show that atmospheric levels of carbon dioxide, the greenhouse gas of primary concern in global warming, do not drive global temperature. See e.g., http://youtube.com/watch?v=XDI2NVTYRXU.
Even assuming for the sake of argument that atmospheric carbon dioxide levels affect global temperatures, the U.S. Environmental Protection Agency recently projected that U.S. regulation of manmade greenhouse gas emissions would have a trivial impact on atmospheric concentrations of carbon dioxide. See http://www.epa.gov/climatechange/downloads/s1766analysispart1.pdf.
So U.S. greenhouse gas regulation is not likely to discernibly affect global climate.
Global warming regulation is expected to harm the economy. The Congressional Budget Office, U.S. Department of Energy and prominent economists such as Alan Greenspan, Arthur Laffer and Greg Mankiw all say that cap-and-trade—a type of greenhouse gas regulation promoted by USCAP— would reduce economic growth. See e.g., http://www.junkscience.com/failure_to_disclose.pdf.
Shareholders want to know how DuPont’s actions relating to global warming may be affecting global climate.
From the Board's response, urging voting AGAINST:
Since the early 1990’s when DuPont began taking action to reduce greenhouse gas emissions, the Company has accomplished major global reductions in its greenhouse gas emissions, and has set ambitious goals for the current and future decade. These early actions have positioned DuPont to be a leader in the development of public policy measures addressing climate change in a manner that is environmentally effective and provides business opportunities for solutions providers.
In other words: We think we can make money by getting in on this scam.
Exactamundo!
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