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Carbonomics: How to Fix the Climate and Charge It to OPEC
Carbonomics How to Fix the Climate and Charge It to OPEC Author:Steven Stoft Carbonomics predicted the Copenhagen impasse over a year ago, saying: — "Developing countries will not make commitments that prevent their citizens from reaching our standard of living. This rules out caps, at least caps that are tight enough to be effective." — In Carbonomics, distinguished energy economist Dr. Steven Stoft, explore... more »s the workings of Kyoto and past energy agreements to find what will work, what will not, and how an agreement could be designed to bring about cooperation.
The US just signed the Copenhagen Accord, which contradicts the two old and opposing views of the Kyoto Protocol, (1) that developing countries should have no obligations and (2) that they must accept binding caps. This Accord is exactly the right first step toward the new agreement prescribed by Carbonomics:
"The first step is to replace the emissions-cap policy that has stymied the Kyoto Protocol."
Carbonomicsforesaw the Copenhagen deadlock and works its way up to a solution to that impasse in Part 4, which proposes an international policy that is simpler than caps but just as effective. This proposal is in line with suggestions by Joseph Stiglitz (the Nobel economist) and with James Hansen (the world s leading climate scientist), both of whom favor strong but practical climate policies.
The first three parts of Carbonomics lay the groundwork for this proposal by:
(1) Dispelling myths, such as George Bush's claim that effective climate policy would "wreck the economy."
(2) Examining the reality of the world s fossil-energy markets and the powers behind them.
(3) Explaining domestic policies, such as cap-and-trade and Jim Hansen's fully-refunded carbon tax.
The next year is a crucial period for climate policy, and Carbonomics is the best guide to where that policy should be headed.« less