What would be a more realistic and cost-effective solution of the problems of climate change?
I don’t believe we should do nothing about climate change. I believe we should get smarter. We need to abandon expensive and inefficient strategies like Kyoto and think about how to cost-effectively tackle climate change in the long term. Kyoto costs a lot now and does very little for the future. And as long as cutting carbon has high costs, China and India will never participate. We should focus on bringing down the future cost of cutting CO2 and concentrate on developing low-carbon energy sources. I advocate spending 0.05% of GDP researching and developing non-carbon emitting energy technologies. This approach would cost the world about $25 billion per year. This would increase spending on research and development ten-fold, yet it would be seven times cheaper than Kyoto and many more times cheaper than a ‘Kyoto II’. This approach would increase the chances of political agreement. All nations could easily get involved, and richer countries would automatically pay the larger share. Eac
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