Skip to comments.The Coming Climate Crash, Lessons for Climate Change in the 2008 Recession
Posted on 06/22/2014 7:02:26 AM PDT by Oldeconomybuyer
THERE is a time for weighing evidence and a time for acting. And if theres one thing Ive learned throughout my work in finance, government and conservation, it is to act before problems become too big to manage.
For too many years, we failed to rein in the excesses building up in the nations financial markets. When the credit bubble burst in 2008, the damage was devastating. Millions suffered. Many still do.
Were making the same mistake today with climate change. Were staring down a climate bubble that poses enormous risks to both our environment and economy. The warning signs are clear and growing more urgent as the risks go unchecked.
A tax on carbon emissions will unleash a wave of innovation to develop technologies, lower the costs of clean energy and create jobs as we and other nations develop new energy products and infrastructure. This would strengthen national security by reducing the worlds dependence on governments like Russia and Iran.
Climate change is the challenge of our time. Each of us must recognize that the risks are personal. Weve seen and felt the costs of underestimating the financial bubble. Lets not ignore the climate bubble.
(Excerpt) Read more at nytimes.com ...
It doesn't matter that none of the 1970s predictions came true. Doesn't matter that humanity did not end in the 80s as predicted. It's all about politics and getting control over America. Science was left at the curb long ago.
Once they can control energy, they can control anything.
Hey, dude ... If it weren't for global warming, the area that is now covered by the city of Chicago would be under an ice sheet a mile thick.
Please tell me exactly what temperature the earth should be right now before telling anyone that we all need to take action to protect ourselves and our economy from "climate change."
According to Global Warming, Chicago was supposed to be devoid of human life by now. EPIC FAIL!
A former Secretary of the Treasury advising us om “climate”....they’re getting desperate, those Marxists
Says Mr. TARP himself.
This author should show his commitment and leave the planet.
So let me, the Greenie Goddess, control the Planet Thermometer till we hit those levels, and then you'll see how right I was. Garden of Eden, here we come!
I'm doing my part. I have 2 nice big compost piles that are vastly enlarging my Carbon Footprint.
It's my civic duty!
Raising taxes on everything you do will help the economy, got that boys and girls.
It does my heart good to know we have men of such brilliance willing to share their obvious superior brilliance with the rest of us.
Henry you are so brilliant if you were to jump into a wood chipper I’d follow you because you are so brilliant it must be the best thing to do.
Hooray! Certainly not the guy you want taking your side in an argument. I’m surprised the NYT would pick him up as a spokesman on anything, as he has the same level of credibility as Dennis Rodman.
We are all going to die! In less than 125 years every man, woman and child now living will be dead!
Is is Bush’s fault.
We might be in a climate crash, but NOT BECAUSE OF CO2.
the issue is water and specifically, the olgallala aquifer.
Basically, this is a giant underground lake that lies underneath the great plains of the usa and it is being pumped dry to irrigate crops.
The level has dropped by about 180 feet over the last 40 years.
The Ogallala Aquifer is a shallow water table aquifer located beneath the Great Plains in the United States. One of the world’s largest aquifers, it underlies an area of approximately 174,000 mi² (450,000 km²) in portions of eight states: (South Dakota, Nebraska, Wyoming, Colorado, Kansas, Oklahoma, New Mexico, and Texas).
The water-saturated thickness of the Ogallala Formation ranges from a few feet to more than 1000 feet (300 m) and is generally greater in the northern plains.[5
As of 2005, the total depletion since pre-development amounted to 253,000,000 acre feet (312 km3). Some estimates indicate the remaining volume could be depleted as soon as 2028
CO2 is PLANT FOOD, ya NYT morons! And “global warming” is a SCAM.
Bunch of idjits in the comments section over there, too.
It occurs to me that these guys in the media and in the bureaucracy, especially in D.C. could stand to get out of their air-conditioned habitats and go live where there are no comforts that come with electricity.
Personally I vote for Sudan or right now... Iraq. I think it would do them a world of good to see how the other half lives.
The credit meltdown was caused by government bow wows just like you, Hank.
Compost piles have literally a zero carbon footprint.
The carbon they release was removed from the atmosphere when the now-composting plants were growing.
If you want to increase your carbon footprint you need to go drive your Suburban around the block a few times.
I fully support carbon taxes in NYC, and 85% of NYC cliff dwellers would vote for them too. Nothing is stopping NYC from showing us the way. Around 80% of carbon is emitted in support of city dwellers. You can’t force 100% of the world to pay carbon taxes, impossible, but you can address 80% of the problem. Isn’t that enough to start? Go for it NYC.
Once they can control the money supply, your schools, your body, and the energy supply, they can control anything.
The only response I can think of which is appropriate to this drivel is to shout, BULLSHIT!
Well the 1st step was to say it was proven science that we had global WARMING.....When that failed they had to go to “climate change” so that no matter what......... “proven science” would justify a tax on humans
How will we stop all that cooling over the past 9 years?
We wont, and if a large volcanic eruption like Pinatubo in the 80’s spews megatons of ash things will get pretty cool in a short time and could last for a number of years. Then again, Iran having nukes could achieve the same result.
A global climate tax is the banksters’ holy grail. It will be the biggest scam on the people since they pulled that trick back on Jekyll Island.
What idiotic thinking. Let's levy enormous taxes on the auto industry to spur innovation. Gigantic taxes on the Internet to spur innovation. Huge taxes on agriculture to spur innovation.
What freaking stupidity. It's a low-tax, low-regulation environment that produces the capital to invest in R&D to stimulate innovation. Sending all your money to Washington DC for the pols to redistribute to cronies results in "innovations" like Solyndra and the hundreds of other Obama-backed companies that have failed and taken tens of billions of dollars with them. Their exec teams all got enriched and were able to make massive payoffs to their democrat congressmen, but other than that, nothing was accomplished.
Well, looky here:
“Along with Gore, the co-founder of GIM is Treasury Secretary and former Goldman Sachs CEO Hank Paulson. Last September, Goldman Sachs bought 10% of CCX shares for $23 million. CCX owns half the ECX, so Goldman Sachs has a stake there as well.”
GIM stands for Generation Investment Management
The environmentally conscious one-percent-er Hank Paulson is positioned to make even more millions from carbon trading schemes and subsidies to industries that he invested in with his buddy, Al Gore.
Hank, wipe away those crocodile tears for the environment. It’s just another way for you to fleece the dupes from their money.
Yeah, you guys did so well with the economy, we should DEFINITELY listen to you on a hard science you have no training or experience in!!!
And by the way, the same thing is true of the gas that runs your Subaru. That's just the carbon that was in the gorgeously greenhousy atmosphere and used by the plants during the Carbonaceous Age. You're un-sequestering it and setting it free again.
Same old bleeding-heart tax-and-spend approach to solving problems .... same old failed ideas
That’s what got most countries in the mess they’re in now - lots of debt, and the problems still aren’t fixed
We do raise cattle so cow flatulence helps I guess.
There is reason for concern about the Ogallala Aquifer but saving it will require political willpower and a different approach in each state.
First, there are areas where the saturated thickness of the aquifer is increasing, thanks to sound water management practices and the Nebraska Sandhills which act as a large recharge basin. The good news is, the aquifer is healthy and maintaining itself normally in the “breadbasket” areas where efficient irrigation and management practices are in place. Nebraska can continue as-is forever and the aquifer will be just fine.
The depletion problem is greatest in the southern-most fringe of the aquifer, particularly in the Llano Estacado region of northern Texas. The vaunted Texas government has allowed the worst form of water management (known as “right of capture”) to basically pump the aquifer dry under the theory of “first some, first served” for so many years that yes, they are now facing a major water crisis. Cropland that could sustain food and fiber production for decades to come is now useless due to the lack of water, and we have Texas politicans to thank for that. It’s now too late for some areas, no matter what is done.
Further north in western Kansas depletion rates are alarmingly high because laws allow a majority of landowners to dictate policy. Just a few months ago Garden City area users rejected a plan that would have reduced usage by 20%. It’s all about money and political power - how many conservatives will support a “water rights war”?
I’m a capitalist and strong supporter of individual rights, but conserving natural resources is one of the basic conservative values, and this is a case where the good of the public has to be put ahead of the rights of individual landowners. It will take improved water management policies and politicians who are willing to stand up to tge big-beltbuckle types in order to safeguard the aquifer for posterity.
“The environmentally conscious one-percent-er Hank Paulson is positioned to make even more millions from carbon trading schemes and subsidies to industries that he invested in with his buddy, Al Gore.
Hank, wipe away those crocodile tears for the environment. Its just another way for you to fleece the dupes from their money.”
Hank is an honorable and terribly misinformed man on this issue.
What Paulson learned:
How to run a scam.
I thought The Slimes didn’t have comics.
Paulson’s & libtard’s strategy is obvious: Tax the bejeezus out of Americans starting now, and when no “climate crash” ever occurs, claim credit for having prevented it.
Of Course there is no mention of this obvious “conflict of interest” anywhere in the op-ed or the disclaimer at the bottom.
He’s just a “concerned Republican” calling for Climate Action Now!
Crony Capitalism to the Climate Rescue! The .018 Degree temp change (note I said change, not reduction) from eliminating all coal plants in the US will be worth the Trillions spent... for the Children.
The green Climate Bubble was actually all the money you cronies were hoping to make on carbon credits, windmills, solar arrays and electric clown cars. And all the money the House of Saud was going to make pumping oil while the US shut down. That bubble burst before it got too big.
This idiot is NOT concerned about national security, only to save his own hide.
Have you ever thought about plants?
My sentiments exactly. Paulson was responsible for the wasting of vast amounts of taxpayer money. Anyone who gives him the time of day is nuts.
We're not all Muppets.
The Oceans are not going to rise, see Ted Danson and Whoopi Goldberg, the Oceans died 20 years ago.
As for this asswipe Moneychanger, he will burn in Hell with the rest of the moneychangers that believe charging interest on something they NEVER OWNED is just peachy. I wish more people would learn how our Fraudulent Monetary System operates and Enslaves us.
Monetary ignorance is sad.
The comments section is appalling, even for the Slimes. I have a hard time believing it isn’t edited to exclude anyone with a grain of common sense.
Destroying the economy is the only way to save us from the next glaciation! /s