Saturday, June 11, 2005

Global Warming

Via Opinion Journal, Why Global Warming Should Rank At The Bottom Of World Priorities.

Money quote:

Adopting the Kyoto Protocol to curb carbon dioxide emissions, for instance, might reduce warming to 6.1 degrees centigrade by the year 2300, compared with an anticipated 7.3 degree warming if nothing is done. This "achievement"--a world that is on average 1.2 degrees cooler than it otherwise would be in 300 years--comes with a price tag of about $94 trillion (in 1990 dollars).

"The benefits [of tackling climate change] are far into the future and the substantial costs are up front and immediate," notes Nobel Prize-winning economist Douglass North. "Given the uncertainties associated with both the projections and the consequences, climate change cannot compete with the other urgent issues we confront."

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