Excerpt:
The political significance of all this, of course, is that our leaders are committing us to a range of measures whose economic effects will be without precedent, from their astronomically costly "carbon trading" schemes to their determination to spend hundreds of billions of pounds on wind turbines.
The most respected economist in this field, Yale's Professor William Nordhaus, estimates that the cost of the measures proposed by Al Gore would be $34 trillion (£17 trillion) - all resting on the belief that, unless we spend such sums, world temperatures are doomed to rise. The events of the first two months of 2008 may lead us to wonder whether these people really know what they are doing.
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