Sunday, December 6, 2009

Why Climate Negotations Are a Waste of Time

In the weeks leading up to the Copenhagen climate conference, countries from China to Singapore have pledged cuts to their greenhouse-gas emissions.

One question still lurks unanswered: Who is going to pay for it?
Short answer: no one.  So any agreements made in Copenhagen will pretend to cut emissions but will not impose any mechanism for achieving those cuts.

More broadly, no international agreement will ever achieve meaningful reductions in emissions because the costs created and the cross-country transfers implied would require a level of coercion that the relevant powers are not willing to utilize.

So it is time to accept that whatever climate change is going to happen is going to happen, and learn to adapt to whatever costs this creates.

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Chee Heong Quah said...

But the communist Paul Krugman said that cap-and-trade worked for sulfur dioxide emissions in the 80s in US before.

He also claimed that the cost to GDP is negligible.

See http://www.nytimes.com/2009/12/07/opinion/07krugman.html?_r=1

Could you comment on that?

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