As Glasgow approaches - Governments are making unprecedented promises …
Obama
signed on under the Paris climate agreement would have hit roughly $50 billion in 2030, or about $140 per person.
A recent Washington Post survey found that a majority of Americans would vote against a $24 annual climate tax on their electricity bills.
Even if they’d hand over $140, it’d reduce global temperatures by a minuscule 0.06 degree Fahrenheit.
President Biden
Is promising to spend $2 trillion over four years on climate policies—equivalent to $1,500 per person per year. And Mr. Biden’s current promise—100% carbon emission reduction by 2050—will be even more phenomenally expensive.
A new study in Nature finds that a 95% reduction in American carbon emissions by 2050 will annually cost 11.9% of U.S. gross domestic product.
To put that in perspective: Total expenditure on Social Security, Medicare and Medicaid came to 11.6% of GDP in 2019. The annual cost of trying to hit Mr. Biden’s target will rise to $4.4 trillion by 2050.
That’s more than everything the federal government is projected to take in this year in tax revenue.
That’s $11,300 per person per year, or almost 500 times more than what a majority of Americans is willing to pay.
This would create a reduction in temperature of 0.3 degree Fahrenheit. This is because the U.S. will make up an ever-smaller share of emissions as the populations of China, India and Africa grow and get richer.
Indian Power Minister Raj Kumar Singh
Net zero is a “pie in the sky,” and “you can’t stop” developing countries from using more and more fossil fuels.
As Curt Carlson says
“ Focus on innovation to bring down the price of cleaner energy -
An investment I believe voters willing be prepared to pay.
Some amazing things that are happenning
Regenerative agricultural practices are all about CO2 removal and sequestration. Nestle is going there with 500,000 farms:
On Oct 9, 2021, at 9:55 AM, Curt Carlson <curt@practiceofinnovation.com> wrote:
Great. Lots of work going on. For CO2 removal cost is the issue. Ideally, it will create positive new businesses.Herman - Lots of interesting stuff in that space indeed! Check out https://airminers.org/ or This about very exciting emerging storage solutions: https://youtu.be/UDjgSSO98VIorPaul Hawken’s newest; Regenerationorthe already mentioned Foundation for Climate Restoration: https://video.earthxtv.com/shows/foundation-climate-restoration/season/1/episode/1