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The Copenhagen Climate Extortion: Going into the Copenhagen climate change summit, the delegates appear to be competing over who can offer the most ambitious and least realistic targets. (Jon Entine, October 23, 2009, The American)

The Stern Review on the Economics of Climate Change, commissioned by the British government, estimates that reorganizing the world energy economy could cut GDP growth by upwards of 1 percent, and perhaps as much as 5 percent, per year. Under current Copenhagen treaty drafts, developed countries are expected to cover the modernization and clean up of the energy sector in developing countries, which could result in an annual transfer of $150 billion by 2020.

Now, some measure of wealth redistribution can have merits, including greater global stability. And if indeed the world faces environmental disruptions from greenhouse gases and the more prosperous countries are in a better position to finance mitigation efforts, then expediency if nothing else dictates that targeted foreign aid to address climate change may be warranted. But there must be limits—and strings. And there’s no sign yet that’s in the cards.

The issue was put in play earlier this month, rather bluntly, in an interview with the incoming president of the summit, Connie Hedegaard, the Danish minister for climate and energy. It’s the obligation of North America, Europe, Australia, and Japan to “prove … to the developing world [that] we know we’re going to pay, or there will be no agreement,” she said.

Let’s be clear on what she is saying. The economically successful countries of the world are being threatened into reducing emissions far beyond what is possible, its impact on growth and world economic stability be damned, while simultaneously financing the transition of the rest of the world to a lower-carbon economy.

...that while the Administration whines about the Tories being too British and Euroskeptical, even Democrats have better sense that to try and sell this sort of internationalism/transnationalism to the American people.

Posted by Orrin Judd at October 23, 2009 5:39 AM