See the commenters rip into it here:
Oliver Tickell: On a planet 4C hotter, all we can prepare for is extinction | The Guardian
Oliver Tickell: On a planet 4C hotter, all we can prepare for is extinction | The Guardian
The collapse of the polar ice caps would become inevitable, bringing long-term sea level rises of 70-80 metres... The permit auction would raise about $1 trillion per year, enough to finance a spread of solutions. At a quarter of the world's annual oil spending, it is a price well worth paying.
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