Periodic fires. Environmental regulations that make things worse. Climate change alarmists who want to blame anyone who doesn’t think like they think.
Extreme poverty has fallen below 10 percent of the world’s population for the first time. It was 60 percent when I was born. Global inequality has been plunging as Africa and Asia experience faster economic growth than Europe and North America; child mortality has fallen to record low levels; famine virtually went extinct; malaria, polio and heart disease are all in decline.
And here is the environmental good news: We are using less stuff:
The quantity of all resources consumed per person in Britain (domestic extraction of biomass, metals, minerals and fossil fuels, plus imports minus exports) fell by a third between 2000 and 2017, from 13.7 tons to 9.4 tons. That’s a faster decline than the increase in the number of people, so it means fewer resources consumed overall.
As noted in a recent Washington Times article, nearly four years after the Paris agreement was enacted with full force, only two of the 32 top emitting countries — Morocco and Gambia — have actually “enacted policies consistent with holding global temperature rise from pre-industrial levels below 2 degrees Celsius by 2100, according to the Climate Action Tracker.”
Faced with public backlash (on the streets and at the ballot box) against costly climate policies that have raised energy prices, the European Union and Japan — the two main driving forces behind the demand for stringent emissions reductions — have enacted policies that have increased their greenhouse gas emissions since the Paris agreement was signed.
And there’s more from H. Sterling Burnettt in the American Spectator.
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If you believe the rhetoric of mayors and city council members in coastal cities, their areas will be under water in only a few decades. But when they sell their own bonds, these dire predictions are nowhere to be found in required disclosure statements.
Buyers of coastal city bonds appear not to believe the predictions either. There is no statistically significant difference in long term If you believe the rhetoric of mayors and city council members in coastal cities, their areas will be under water in only a few decades. But when they sell their own bonds, these dire predictions are nowhere to be found in required disclosure statements.
Buyers of coastal city bonds appear not to believe the predictions either. There is no statistically significant difference in long term bond rates between coastal cities and cities in the interior of the country.
A Government Accountability Institute report says:
For example, the City of Oakland, the City of San Francisco, and San Mateo County, in filing individual lawsuits against ExxonMobil, Chevron, and other major oil companies, made specified claims of damages to their cities due to the impacts of climate change… [Oakland] claimed the threats were so real that “by 2050, a ‘100-year flood’ in the Oakland vicinity is expected to occur… once every 2.3 years … and by 2100 … once per week.”
However, language used to disclose risks to investors in a 2017 bonds document states,
“The City is unable to predict when seismic events, fires or other natural events, such as sea rise or other impacts of climate change or flooding from a major storm, could occur, when they may occur, and, if any such events occur, whether they will have a material adverse effect on the business operations or financial condition of the City or the local economy.”
Andrew McAfee is offering to take a number of bets centered around predictions and implications from his new book More From Less
- In 2029, the US will consume less total energy than it did in 2019.
- In 2029, the US will produce less total CO2 emissions than it did in 2019, even after taking offshoring into account.
- Over the five years leading up to 2029, the US will use less paper in total than it did over the five years leading up to 2019.
HT to Alex Tabarrok.