Friday, August 13, 2010

Michael J. Economides tells us what he really thinks

Energy Tribune- The UN Taxman: Could It Tax Your (Airplane) Seat?
It is billed as a “panel of the world’s leading economists… to fight climate change.” I am not sure what kind of economists they are, but the ones that have been meeting in Bonn, Germany seem to ignore what any undergraduate student in business or engineering can readily conclude: the net present value of carbon dioxide fossil fuels is positive and huge; the net present value of any “green” alternatives is negative to hugely negative.

Unless, of course, they start with the presumption of anthropogenic global warming (which they do) and which is not quite the same as climate change, but even more to the point, they accept lock stock and barrel the most alarmist, direst predictions of the consequences of global warming. If one accepts those, no economic calculation is necessary because the presumed damages have an incalculable impact. There is no real need for “leading economists” to congregate other than to provide authoritative sounding pronouncements for what it is a thinly disguised giant worldwide tax.
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Ideologues seem unrepentant and unmoved by the giant signals from many countries, all in just this year, which led to the Copenhagen fiasco, the wholesale abandonment of subsidized, unrealistic green technologies throughout Europe and the huge disconnect between public pronouncements and actions by practically every country. Now they will try the UN route which is the surest way to further reduce the effort to laughable levels. How is the UN going to compel countries to comply with such massive tax increases?
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Blinded by ideology and an almost religious anti-carbon devotion, have they -- from Bonn to Washington -- lost their senses?

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