Thursday, February 05, 2009

How To Deepen the Recession

As reported in the February 1st India Times, Barack Obama and the Euros are setting up the Developed world to be, well, screwed:
The Copenhagen Climate Conference 2009, is likely to conclude on a strict regulatory regime on emissions for developed countries rather than for the developing countries, nobel laureate R K Pachauri said here today.

"The negotiations are going on for the conference of parties at the Copenhagen where we will have a multilateral worldwide agreement, let's see what the implications of that would be," Pachauri, who is Chairman of UN's Inter-governmental Panel on Climate Change (IPCC), said on the sidelines of fifth convocation of DAIICT.

"Of course, the developing countries will be exempted from any such restrictions but the developed countries will certainly have to cut down on emission," Pachauri said, adding, "some strict regulations are going to be there."
It's long been clear that the effect of climate change regulation will be a massive transfer of wealth from the developed to the developing world. For many warming zealots, I suspect that's the intent as well.

For his part, China's Premier, Wen Jiabao, "lowered expectations" that he would commit to any carbon cap:
"It's difficult for China to take quantified emission reduction quotas at the Copenhagen conference, because this country is still at an early stage of development," he said in an interview with the Financial Times. "Europe started its industrialisation several hundred years ago, but for China, it has only been dozens of years."
(via CCNet, email only)


OBloodyHell said...

The end result of such things is that reality will set in, everyone will cheat, it will come out that everyone is cheating, and the whole mess will get ignored.

When the brownouts start happening, a whole new crew will be in office within 2 years. And that's in every nation, not just the USA. When they happen and people die because of the cold weather (which is when the brownouts will be worst) or because of heat exhaustion (which is the other time when brownouts will be worse) there will be Change. Of "the realist kind"

These rules are going to have a downward effect on the economy, but not for all that long. Five years, tops.

I fear more the longer-term energy policy. Since it takes as much as 10 years to build a new powerplant, it'll be... interesting... to see how quickly new coal-fired plants can be brought back online.

Remember, by this time, the boomers will be dying off, and the Gen-Xers will be In Charge finally.

Carl said...

The problem is that, if China, India and other developing world countries are excluded, they can undercut the developed world without having to cheat. And if carbon is centrally controlled--through a tax or cap/trade--cheating is difficult.