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Tuesday, November 08, 2005

Kyoto Protocol reduces growth, but global warming costs money and lives

The BBC has run a story that the Kyoto Protocol will 'reduce Europe's growth'. The story is about a report from the Council for Capital Formation that shows Spain's growth will fall by 3% and Italy's will shrink by 2% because of their commitments under the . So what?! Without measures to curb global , there will be a lot more to worry about than a downshift in growth. Check out some of my previous posts on the effects that will have on Europe and worldwide animal and plant species.

The BBC article does correctly point out the is not enough by a long shot. But without concrete binding targets and cooperation of nations the problem will not be solved in the time that it needs to be. In the long term, inaction will be much much more costly then the short-term economic cost of action now. Yes, life will be a bit more difficult and costly in the short term if we reduce emissions, but that is because we have been living in an unsustainable and short-sighted manner, without regard for future generations. That short-sightedness must cease if we are to start taking responsibility for our actions and start thinking about our children.


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