Monday, March 15, 2010

The Money Trail

The Science and Public Policy Institute has published a five-page essay by Joanne Nova that compares the funding for climate skeptics with that for the climate industry. Over ten years Exxon paid $23 million to skeptics, which has since stopped, but has spent $700 million on carbon-friendly initiatives. The US government has spent $79 billion on climate research and technology since 1989. According to the World Bank, carbon trading reached a turnover of $126 billion in 2008. A commissioner from the Commodity Futures Trading Commission forecasts a $2 trillion carbon market in five years .

Benny Peiser: The West's Policy Approach is Wrong
Interviewed in the Financial Chronicle of India, social anthropologist Benny Peiser lists the errors in the West's climate change policies. These result from the Copenhagen failure and the IPCC's problems, green taxes in Europe, and the effects of rising fuel prices on poor people and developing countries. Even if one accepts the IPCC's science, the worst case scenario resulting from climate change is that in 100 years the world will be only six times as rich as now, instead of seven.
Carbon Tax Casts a Pall over UK Industry
According to The Journal, UK Energy Minister Lord Hunt admitted that the EU's emissions trading scheme could hit the North East's industrial heartland, with companies going bust or moving abroad. Nevertheless the minister considers it "entirely appropriate" that the UK be part of the European emissions trading system.
New Technique Shows Roman Warm Period Warmer than Present Day
The Global Warming Policy Foundation and Watts Up With That describe a paper published in the Proceedings of the National Academy of Science in which researchers used shells of bivalve mollusks in Iceland to determine proxies of temperatures from 360 BC to 1660 AD. Because the mollusks live only 2-9 years and their shell growths vary with temperature, it is possible to see finer changes than with tree rings. The paper shows that the Roman Warm Period was warmer than the Medieval Warm Period. Warm and cold periods within the MWP correspond with the rise and decline of Norse settlements in Iceland and Greenland.
Green Energy Bubbles
Writing in the National Post, columnist Terence Corcoran notes that, while investment analysts are advising their clients to get out of solar power firms and are warning about the continuing risks in wind and bioenergy schemes, two provinces in Canada continue pumping money into alternative energy. Ontario's Green Energy Act includes a "feed-in tariff" that forces power distributors to pay 44 ¢/kWh for solar, 13.5 ¢/kWh for wind power and 80 ¢/kWh for power from solar power delivered from roof top systems. In B.C., Premier Gordon Campbell promises a new fast track for alternative energy projects.

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