Monday, November 17, 2008

The best approach to climate change? Nothing

Nature magazine called Patrick J. Michaels one of the most popular academic lecturers in America on global warming. He says the best approach to dealing with it from a public policy issue is nothing. On p. 6 of Cato's Letter, Fall 2008, he says,

Do the politically incorrect and seemingly impossible thing: nothing right now. No carbon tax. No cap-and-trade tax. No emissions cap. Why? First, the rate of warming is very modest, meaning that there is plenty of time to develop new or modified forms of energy production that will emit less carbon dioxide. If those are desired goods (and efficient products generally are), preserving the capital for investment in them (by individuals) rather than take it away for government to invest (with taxes) is a more efficient way to get to a more efficient future.

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