Tuesday, 16 October 2018

Two More Optimistic Scenarios and Breaking News.

To counter wild allegations that I am an incurable pessimist, I’ll leave readers with the most optimistic scenario I could find for how this slow-motion train wreck of climate change is going to develop.

Tuesday, 9 October 2018

The Price of Survival.

I think there’s little need to repeat the dramatic pleas the UN's Intergovernmental Panel on Climate Change (IPCC) made last Monday: to avoid world average temperatures rising above 1.5°C greenhouse gas emissions must be cut by 45% within the next 12 years and reach 0 (as in nada, zilch, rien) within 32.

There’s a detail, however, most commentators have overlooked. To achieve those reductions, in a capitalist economy, where prices are the rationing device par excellence, it “would require carbon prices that are three to four times higher than for a 2°C target” (Yes, maties, that was there, too).