First and for most through my reading about global warning I came up with two main points that are overlooked in the debate about climate change. Not all responses are equally cost effective. Only a global response has any chance of stabilizing carbon in the atmosphere. It should be obvious that for any problem, some solutions are more effective than others. Despite what some may have you believe, it is not the case that anything we do to reduce greenhouse gas emissions is worth the cost. We could, for example, ban all oil and coal use worldwide. That would halt emissions, but few would believe the resulting economic fallout in terms of poverty and starvation to be justified. Economists have estimated that any policy intervention that costs more than about one penny per pound of carbon dioxide saved is probably not cost effective. (As a point of comparison, burning a gallon of gasoline emits about 20 lbs. of carbon dioxide.) If saving a gallon of gasoline will cost you more than 20 cents in time or effort, there are better uses of your time that would do more to combat global warming. Policy makers should heed the same guideline.
Another crucial point on which most people will agree is that the U.S. will account for only a tiny fraction of emissions in 2050. Chinese greenhouse gas emissions have already surpassed those of the U.S. Recent E.P.A. estimates suggest that in order for global carbon dioxide emissions to stabilize, three quarters of future reductions would have to come from developing countries like China and India. Many advocates argue that a carbon tax or carbon cap in the U.S. would lend the U.S. the moral authority to persuade the rest of the world to follow. However, history has shown that moral authority alone is insufficient to cause countries like China to act against their own interests. [continues]
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