While an earthquake shifts the ground beneath our feet, the United Nation’s climate change proposal would shift trillions of dollars in wealth transfers and entail “ job losses and gains, new taxes, industrial relocations, new tariffs and subsidies, and complicated payments for greenhouse gas abatement schemes and carbon taxes.” And while earthquakes inflict considerable amounts of economic damage, it pales in comparison to the economic burden a carbon dioxide reduction scheme would do – not only in the United States but also in other developed countries and developing countries.
The U.N. conference in Bonn, Germany commenced yesterday to hash out details for an international approach to reducing greenhouse gas emissions. The goal is to have a plan ready for the global warming summit in Copenhagen at the end of the year that would supplant the failed Kyoto Protocol. The 1997 agreement, which the United States chose wisely not to enter into,
