NewEnergyNews: IS CLIMATE CHANGE THE GREATEST MARKET FAILURE EVER?

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    Founding Editor Herman K. Trabish

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  • The Winds In New Mexico

    Friday, February 21, 2014

    IS CLIMATE CHANGE THE GREATEST MARKET FAILURE EVER?

    Climate change deniers have grasped that markets can't fix the climate; The refusal to accept global warming is driven by corporate interests and the fear of what it will cost to try to stop it

    Seumas Milne, 19 February 2014 (UK Guardian)

    “In the words of Nicholas Stern’s 2006 report, climate change is ‘the greatest market failure the world has ever seen’…97% of climate scientists agree that carbon emissions are dangerously heating up the planet, the Intergovernmental Panel on Climate Change warn it's 95% likely that most of the temperature rise since 1950 is due to greenhouse gases and deforestation, [and the risk is increasing] of a global temperature rise [above 1.5–2C that would] be catastrophic for humanity…But the climate flat-earthers are having none of it…Part of the [reason] is in the influence of some of the most powerful corporate interests in the world: the oil, gas and mining companies that have strained every nerve to head off the threat of effective action to halt the growth of carbon emissions, buying legislators, government ministers, scientists and thinktanks…The intervention, regulation, taxation, social ownership, redistribution and global co-operation needed to slash carbon emissions and build a sustainable economy for the future is clearly incompatible with a broken economic model based on untrammelled self-interest and the corporate free-for-all that created the crisis…” click here for more

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