Posted on 12/13/2010 1:13:02 PM PST by Ernest_at_the_Beach
A new bottom-up approach holds better prospects for success than the cumbersome UN negotiations
A new bottom-up approach holds better prospects for success than the cumbersome UN negotiations
The official communique from the Cancún climate change conference cannot disguise the fact that there will be no successor to the Kyoto protocol when it expires at the end of 2012. Japan, among others, has withdrawn its support for efforts simply to extend the Kyoto treaty.
This sounds like bad news, because it means that there will be no international price on carbon, and, without a market price, it is difficult to see how the reduction of carbon emissions can be efficiently organised. But appearances can be deceiving.
Even as the top-down approach to tackling climate change is breaking down, a new bottom-up approach is emerging. It holds out better prospects for success than the cumbersome United Nations negotiations.
Instead of a single price for carbon, this bottom-up approach is likely to produce a multiplicity of prices for carbon emissions. This is more appropriate to the task of reducing carbon emissions than a single price, because there is a multiplicity of sectors and methods, each of which produces a different cost curve.
The market price of anything is always equal to the marginal cost. When there is a single price, all the various cost curves are merged into one and low-cost projects enjoy large rents. This makes the cost of reducing carbon emissions much larger than it needs to be.
(Excerpt) Read more at guardian.co.uk ...
sfl
Well ain't that sweet!
*I’m supposed to care that the UN wants money? I hate the UN.
I would pay good money to see it destroyed on PPV.*
It would be great if the UN went broke!
Think of the misery that would end and the lives saved!
What an ugly zit on the world.
I hope it goes away quickly
Along with Soros.
“The general is telling you his army has been destroyed, but the good news is that a few bands of lightly armed partisans are hiding in the hills.”
What a pleasant scene. When do we loose the hounds and go get ‘em?
What we are looking at is 007’s Spectra’s Dr. No. One percent control 90% of the wealth.
Something devious. New ways must be found to get at our money.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.