Climate Shock

Uncertainties attend the predictions of climate science, as the scientists themselves are careful to acknowledge. Reluctant policy makers use this uncertainty to support a “wait and see” response to climate change. Prominent American economists Gernot Wagner and Martin Weitzman in their recent book Climate Shock: The Economic Consequences of a Hotter Planet are scathing in their condemnation of such a response. They translate “wait and see” as “give up and fold” and call it wilful blindness.

Their own response to the uncertainty surrounding climate predictions is to ask what the worst case scenario looks like.

Here’s what you get: about a 10 percent chance of eventual temperatures exceeding 6 ° C, unless the world acts much more decisively than it has.

This isn’t a figure they’ve made up for themselves. It’s based on IPCC prediction ranges and on the International Energy Agency’s interpretation of current government commitments.

It’s clearly a catastrophic scenario, but with a 10 percent chance of happening it must play a prominent part in our thinking and planning. We take out fire insurance on our homes with a much lower than 10 percent chance of their burning down. It’s called prudence, and most of us don’t think twice about the precaution of insurance.

Continue reading “Climate Shock”

New Zealand’s double dealing and special pleading over the second Kyoto period: part the second

USD or NZD? so confusing!
USD or NZD? so confusing!

Is Tim Groser a Kyoto pariah? Or a Kyoto visonary? A global emissions reduction emissary or is he tar-sanded with a Canadian brush? I once more try to make sense of New Zealand’s double dealing and special pleading over the Kyoto Protocol second commitment period and the Doha hooha. This time with the aid of Tim Groser, who has written an opinion editorial in the Herald.

Tim Groser, New Zealand’s most forthright Minister for Climate Changes, contributed a shocker of an Op Ed to the NZ Herald this week. When I first read it, I wrote down my responses to what seemed the most misleading claims. The headline shocker is that either Tim Groser is so out of touch with his portfolio that he has no idea what the current price of carbon in New Zealand, or he is so incompetent that he can’t tell US dollars from NZ dollars.

But there are shockers for all of us.

Continue reading “New Zealand’s double dealing and special pleading over the second Kyoto period: part the second”