Anyhoo, that's what we need to happen with oil, say James Woolsey, ex-CIA director from 1993 to 1995, and now a partner in clean-energy group, VantagePoint. So goes the history lesson.
Global Warning Climate Change Energy
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You could Amtrak down to the White House and hear President George W. Bush tell the world's major economies that this global warming thing might actually be a problem and that we should maybe consider doing something about it eventually.
Of the three, it was the Clinton meeting that proved the best bet —
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As part of his Clinton Climate Initiative, launched in August 2006, the former President has brought together business and philanthropy to generate locally focused efforts to reduce energy use and carbon emissions.
While President Bush offered mostly empty rhetoric, on Friday afternoon Clinton reeled off pledge after concrete pledge for his climate initiative: $150 million to harness geothermal energy in Africa, $5 million for the Alliance for Climate Protection in the U.S., $210 million for carbon offsetting in the developing world.
While UN action on climate change remains stalled by the deadlock between the developed and the developing world, Clinton has proved remarkably successful in fostering real engagement and investment on global warming across national lines. "Clinton just really gets it," says Ted Nordhaus, co-author of the new environmental politics book Break Through.
Don Henry, executive director of the Australian Conservation Foundation, said Australia needed to stop copying the US position on climate change immediately.
"It is disappointing the conference has not delivered,'' Mr Henry said.
''(US) President Bush is still resisting setting binding targets or commitments on greenhouse gas emissions.
"He wants the flexibility of voluntary targets.
"The US is the world's biggest climate laggard and are holding up global action on climate change.''
Mr Henry said Mr Bush's climate change policies were "disastrous'' and Australia had to "disconnect'' itself from them. "More than any other country on Earth we should tackle this issue seriously with our water supplies at risk and the Great Barrier Reef,'' he said.
"At the conference every developed country has taken on board binding targets and every developing country has committed to cleaning up their economy and set long-term aspirational goals.
"The only two that have not are Australia and the US who have not ratified the Kyoto Protocol and stand out like sore thumbs.''
THE US Secretary of State, Condoleezza Rice, has tried to assuage European and green group concerns the US is trying to hijack the United Nations process for developing a new global deal on climate change. "I want to stress that the United States takes climate change very seriously," Dr Rice said at the start of a two-day conference. "Managing the status quo is simply not an adequate response."
But she repeated that the US did not support binding targets on individual countries - a key difference between the US and European position.
Australia's Foreign Affairs Minister, Alexander Downer, predicted that Australia, like the European Union, Canada and Japan, would ultimately embrace binding targets. This was because it was essential to make the Coalition's proposed carbon trading scheme work, he said. "In our case, the way the binding target will work, we'll set next year an aspirational goal, then to make that work, we have to get the emissions trading scheme into operation and you have to have binding targets under an emissions trading scheme, otherwise you can't create a price for carbon," Mr Downer said.
Critics have questioned whether the US approach of voluntary targets would work. "We appreciate the sentiments expressed by Secretary Rice, but the devil is always in the detail," said South Africa's Environment Minister, Marthinus van Schalkwyk.
Science Daily — Greenhouse gas emissions from power stations could be cut to almost zero by controlling the combustion process with tiny tubes made from an advanced ceramic material, claim engineers on August 3, 2007.
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"The United States is committed to collaborating with other major economies to agree on a detailed contribution for a new global framework by the end of 2008, which would contribute to a global agreement under the UN Framework Convention on Climate Change by 2009," Bush said in his invitation.
"In addition, we expect to place special emphasis on how major economies can, in close cooperation with the private sector, accelerate the development and deployment of clean technologies, a critical component of an effective global approach to reducing greenhouse gas emissions," he said.
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The Global Warming Survival Guide
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Now the cost, the very real cost of cutting emissions, tends to be airily dismissed as minor. So it might knock 0.1 per cent off our growth rate, perhaps even 0.2 per cent. But you'd hardly notice.
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Aggressive emission cuts had been modelled to suggest that 2050 GDP (gross domestic product) would as a consequence be 5 per cent less than otherwise.
That's another of those "minor" numbers. Especially as it would be 5 per cent off a much bigger economy than now. But another way of looking at it, according to Switkowski, is that 5 per cent would represent about a $120 billion reduction in the size of the economy.
Even more critical, is the cumulative losses over the 43 years to 2050. Add them all up and you get around $1 trillion or $1000 billion. That was a serious amount of money, Switkowski added.
Now this is not a criticism, but Switkowski seriously understated the cost. A reduced growth path that ended up being 5% per cent below potential in 2050 would actually cost closer to $3 trillion - $3000 billion all-up.
To add some critical context. The Australian economy today is just a tick over $1 trillion - $1000 billion. So that would be tantamount to closing it down, completely, for three years.
As my table shows, even a seemingly completely unnoticeable 0.1 per cent reduction in the annual growth rate, from 3 per cent to 2.9 per cent, would mean GDP in 2050 - to stress again, in today's dollars - would be $145 billion less than otherwise.
But the cumulative loss over the 43 years would add up to $2220 billion - the equivalent of two of today's economy.
The hardly more noticeable reduction in growth to 2.8 per cent a year would cost $4390 billion of lost production.
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ANALYSIS OF THE REPORT OF PRIME MINISTER HOWARD’S
TASK GROUP ON EMISSIONS TRADING
by Wadard
1. The PM's terms of reference are biased towards sustaining coal and uranium exports.
“Australia enjoys major competitive advantages through the possession of large reserves of fossil fuels and uranium. In assessing Australia’s further contribution to reducing greenhouse gas emissions, these advantages must be preserved.
Against this background the Task Group will be asked to advise on the nature and design of a workable global emissions trading system in which Australia would be able to participate. The Task Group will advise and report on additional steps that might be taken, in Australia, consistent with the goal of establishing such a system."
2. Some of the submissions by interested parties are confidential, that is, not publicly available for scrutiny.
Why so? Is transparency not important? The list of 'non-confidential' submitting parties is here:
3. The Task Group Committee comprises of senior bureaucrats, mainly economists, and fossil-fuel industry representatives, not scientists or renewable energy experts.
The Bureaucrats:
David Borthwick – Economist and former member of the Office of the Prime Minister; Ken Henry - Secretary to the Treasury in 2005; Michael L’Estrange - secretary of the Department of Foreign Affairs and Trade; Mark Patterson - the chairman of the Australian Chamber of Commerce and Industry (2001).
The Fossil Fuel & Industry Representatives:
Peter Coates - coal miner Xstrata; Tony Concannon - International Power managing director; Chris Lynch - BHP Billiton executive director; John Marlay - Alumina Chief Executive; Margaret Jackson - chairwoman of Qantas; John Stewart - National Australia Bank.
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His maths: $60 trillion/.0012/6.5 billion = $10 (rounded figures). He points out that it is more useful to break down the global figure by country and filter it though its GDP. For example, for Gambians this would cost $2.00 per head, and for Americans the cost would be $478.4 May 07
The UN's Intergovernmental Panel on Climate Change concluded that it would cost .12% of the world's domestic product to substantially reduce our collective greenhouse gas emissions.
- GDP of the world economy: US$60 trillion
- .12% of $60 trillion: $70 billion
- Total population of the earth: 6.5 billion
- Cost per person to significantly reduce heat-trapping gas worldwide: $10 a year
- Cost of saving the planet from droughts, famine, mass flooding, species extinction and rising sea levels: priceless.
THE cost of saving the planet from catastrophic climate change will not be a major burden on the world economy, shaving only a small amount from global growth if governments act now, says a report by the United Nations expert panel on climate change. A former CSIRO climate chief, Dr Graeme Pearman, of Monash University, said the impact on a healthy economy would be small. "The cost of letting climate change happen is a lot more than the cost of mitigation." Stabilising greenhouse gas emissions at a level that can limit the temperature rise to 2 to 3 degrees would reduce annual gross domestic product growth rates by only 0.12 per cent, the report said. Global emissions would need to be slashed between 50 and 85 per cent by 2050 from levels in 2000. |
California governor Arnold Schwarzenegger has recruited an Australian ally in his plan to terminate global warming. Victorian Premier Steve Bracks
The MOU will allow California and Victoria to share expertise in climate change, develop emission trading schemes and carbon offsets and encourage the development of clean energy technology. |