A university is just a group of buildings gathered around a library. ~Shelby Foote

Tuesday, May 30, 2006

Global Warming

Gregg Easterbrook, better known to many of us as Tuesday Morning Quarterback, had a very interesting piece on global warming in last week's NY Times. Basically, it argues that global warming is occuring (the evidence is very strong that it is), that it is likely at least partially a result of man's activities, and that the Kyoto Protocols are precisely the wrong way about addressing the problem.

Instead, he makes a case for a "tradable credit system" wherein those who reduce emissions and utilize new technologies are rewarded and those who don't must either buy credits from those with extras, change what they are doing, or pay stiff fines. Essentially, you set up a market driven system. Similar systems have worked with acid rain and with smog-- air pollution problems seem to lend themselves well to this kind of set up.

Another aspect to like about the credit approach is that it will encourage the development of new technologies-- really the only point I could find that supported signing Kyoto. With companies under market driven pressures to reduce emissions, companies that can step into the gap with technologies that do precisely that will flourish.


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