Selling The Green Economy

Washington Post ^ | April 27, 2009 | Robert J. Samuelson

[reaganaut1]

Few things are more appealing in politics than something for nothing. As Congress begins considering anti-global-warming legislation, environmentalists hold out precisely that tantalizing prospect: We can conquer global warming at virtually no cost. Here's a typical claim, from the Environmental Defense Fund (EDF):

For about a dime a day [per person], we can solve climate change, invest in a clean energy future, and save billions in imported oil."

This sounds too good to be true, because it is. About four-fifths of the world's and America's energy comes from fossil fuels -- oil, coal, natural gas -- which are also the largest source of man-made carbon dioxide (CO2), the main greenhouse gas. The goal is to eliminate fossil fuels or suppress their CO2. The bill now being considered in the House would mandate a 42 percent decline in greenhouse emissions by 2030 from 2005 levels and an 83 percent drop by 2050.

...

The trouble is that [environmentalists' estimates of the cost of a carbon cap] embody wildly unrealistic assumptions: There are no business cycles; the economy is always at "full employment"; strong growth is assumed, based on past growth rates; the economy automatically accommodates major changes -- if fossil fuel prices rise (as they would under anti-global-warming laws), consumers quickly use less and new supplies of "clean energy" magically materialize.

There's no problem and costs are low, because the models say so. But the real world, of course, is different. Half the nation's electricity comes from coal. The costs of "carbon capture and sequestration" -- storing CO2 underground -- are uncertain, and if the technology can't be commercialized, coal plants will continue to emit or might need to be replaced by nuclear plants.

[Tarpon]

USA Progressives, selling something for nothing for over 100 years.

Watcha going to do when other people’s money runs out?

[steelyourfaith]

 

Beam me to Planet Gore !