And why we would pay to adapt back to pre-industrial or even 1990 levels in 100 years? That doesn't make sense.
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Like I said - I agree. It is probalable that once we have absorbled all of the cists inn money and lives in adapting to the new condistions, that there will be no point in returning to 1980's levels.
Not 1980 - 1980's (350 ppmv of CO2 would be ~1987).
Because that is the level that the IPCC use. Ask them.
Nonsense. They cost jobs and simply shuffle large amounts of money while doing nothing for the environment. They've been nothing but a spectacular fail.
THE EXPENSIVE FAILURE OF THE EUROPEAN UNION EMISSIONS TRADING SCHEME
Nonsense.
They cost jobs and money while doing something for the environment. No one is denying this.
What you and this study are ignoring is that they create jobs and simply create large amounts of money while doing something for the environment (reducing CO2 emissions). They've been nothing but a spectacular success in generating income and jobs (at least in the USA):
A Real-World Example of Carbon Pricing Benefits Outweighing Costs.
For a wider discussion read:
The economic impacts of carbon pricing
Economic assessments of proposed policy to put a price on carbon emissions are in widespread agreement that the net economic impact will be minor. The costs over the next several decades center around $100 per average family, or about 75 cents per person per week, and a GDP reduction of less than 1%. Moreover, the benefits outweigh the costs several times over, as real-world examples illustrate.
And as lomiller stated:
This paper (and the group that produced it) has a fundamentally flawed view of how a free market works. What they are calling a “cost” is billing industry for the cost of their pollution and CO2 emissions rather than having those costs socialized and paid for by the government and/or its citizens.
The fatal flaw about this paper is that it is only about the
costs of the EU scheme.
It ignores any generated jobs or income.
A Real-World Example of Carbon Pricing Benefits Outweighing Costs is about the
benefits and the
costs.