March 17, 2017
FORCED INNOVATION IS GOOD ECONOMICS:
Sharp drop in US emissions keeps global levels flat (Pilita Clark, 3/17/17, Financial Times)
A striking drop in carbon pollution in the US, where emissions fell back to what they were in 1992, helped to keep global CO2 levels in 2016 virtually unchanged from the two previous years, the International Energy Agency said."This is a very welcome development," said Fatih Birol, IEA executive director. "It appears we now have the first signs of an established trend of flat emissions as a result of natural gas replacing coal in major markets and renewables becoming more and more affordable."Mr Birol said it was especially significant that emissions stayed flat during a period of sustained global economic growth, currently about 3 per cent per annum.Carbon pollution from burning coal, gas and oil has typically levelled out only during economic downturns and then ticked up again as recoveries take hold. The ability to cut emissions without putting economic growth at risk has been the holy grail for governments and climate change campaigners alike, especially in emerging markets.
Posted by Orrin Judd at March 17, 2017 5:06 PM