“At Copenhagen, the United Nations’ Intergovernmental Panel on Climate Change will attempt to get about 140 nations to approve a new global plan to reduce carbon emissions and, at the same time, engineer a major redistribution of money from developed nations to developing nations. An early draft of the Copenhagen agreement, to replace the collapsing Kyoto Protocol, suggests the focus is as much on redistribution as on carbon reduction, with no guarantee that any of it will have the slightest impact on carbon emissions or the global climate.
In climate policy circles, trillion-dollar transfers and programs proliferate and, in total, easily overtake the paper losses suffered by financial markets through the 2008 crisis. The International Monetary Fund recently set its estimate of the global losses from the financial crisis for 2007-2010 to be US$3.4-billion. The draft Copenhagen document proposes annual “financial flows” to developing nations of somewhere between $70- and $140-billion. At $140-billion, the ten-year tab would run to $1.4-trillion. But forcing carbon-based energy out of the global economy will take a lot more than that…
The big difference between the financial meltdown losses and carbon control spending is that the financial market losses are paper losses that, in time, will turn around. The IMF said the financial markets have already recouped 15% of their losses as securities values rebound. The carbon spending, if it were to take place, would be lost money never to be recouped. An expenditure of $3.4-trillion to pump carbon into the ground is $3.4-trillion vapourized into black holes.”
Click here for more on the carbon sequestration folly.
Kyoto was an abysmal failure.
And, Copenhagen will be FAR MORE DESTRUCTIVE!
This is -- by FAR -- the most massively corrupt endeavor EVER!
Click here for a climate change science overview.
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