The Net Cost of Tackling Global Warming

Dan Hannan blogged today on the CAP & Trade Scheme just adopted by the US House of Representatives. Assuming all assumptions are correct, the impact on global temperatures will be just 0.05 degrees by 2015. The costs on the US Economy will be trillions of dollars. If adopted worldwide, we might get 0.20 to 0.25 of a degree reduction. This scheme would therefore fail the Stern Review proposals of the benefits of action exceeding the costs. Without even questioning the AGW science, we can claim to be creating net harm to humanity by these measures.

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