The G-8 Economic Suicide Pact

IBD Editorials ^ | July 9, 2009

[Kaslin]

Climate Change: Channeling King Canute, G-8 leaders agree to wreck the world's economy, and ours, by pledging to prevent temperatures from rising more than 4 degrees by 2050. What if the Earth has other plans?

---

Canute was the legendary king whose sycophantic followers praised his power and wisdom. He was The One of his time. He once stood on the shore and commanded the waves to halt. As the story goes, he was exercising his ego when in fact he was giving his followers a dose of reality — the power of man over nature is finite and inconsequential.

We were reminded of this as members of the G-8 met in Italy on Wednesday to agree in principle to cut their emissions of greenhouse gases by 80% by 2050. The aim is to hammer out a successor to the failed Kyoto Protocol that expires in 2012. In December, the U.N. is convening a meeting in Copenhagen to forge a binding consensus on reduction targets.

The announced goal, which President Obama has signed on to, is to keep the earth's average temperature from rising more than 2 degrees Celsius (or 3.6 degrees Fahrenheit). That should not be a problem. While the warm-mongers tout 1998 as a record warm year, no year since has been as warm as the earth has, in fact, cooled during an unusually quiet solar cycle.

Last August was the first month in nearly a century in which the sun was completely devoid of sunspots, an indicator of solar activity. While the earth's temperature charts nicely with the solar cycles over time, it correlates not at all with rising CO2 levels. In fact, the earth has been cooling even as these levels rise, and the earth is no warmer than it was in 1979.

[myknowledge]

And enrich themselves with monetary wealth with our hard-earned business.

Anyway, India is our ally.

[stephenjohnbanker]

“Anyway, India is our ally”

Not anymore. We have no allies in the free world since a Marxist thug took over our country. Its every country for itself now.

[Old Professer]

Jim Hansen is righteously incensed, he wants nothing less than a carbon/fee rebate plan levied at the mine shaft or the wellhead on all the energy producers at the revenue end and a refund to all consumers using a means-tested formula where the least productive receive the greatest reward at the other end.

Nothing else will work, he says and the current agreement and the half-passed energy bill in the Senate is just another version of corporate welfare, in his lights.

Can there be any better illustration of the true motives behind this high priest of the movement?

Canute was a fictional character dealing with a fictional scenario — this is real and it is now; our options as unwilling financers of either propostion is to just bleed out quickly or to allow a slow exsanguination, one withdrawal at a time.

[ding_dong_daddy_from_dumas]

[stephenjohnbanker]

Yeah ;-)

LOL!!