Economists favor a carbon tax as the most efficient way to forestall global warming because they assume that the goal should be to reduce the amount of carbon. But David Henderson suggests that assumption may be wrong.
This is Dick McKenzie, writing in Regulation magazine:
The gremlin in climate scientists’ gloomy narrative is the prospect of a “tipping point”: an abrupt worsening in environmental change, looming in the next dozen years or (at most) the next few decades—if the tipping point has not already been reached. Once climate change has “tipped,” global warming (and an array of other changes in the global climate) will be self-perpetuating, self-accelerating, and irreversible, no matter how drastic the adopted future emissions-abatement policies are….
Beyond the tipping point, many scientists say, there is one inevitable outcome: environmental Armageddon, at which point the climate will become so degraded that all of life will be hellish, if species can survive that long. Effectively, Earth will gradually become a second Venus, which at one time, long ago, was likely as habitable as Earth, but is not today because of its (natural, not man-made) greenhouse-gas self-perpetuating cycles. Venus’s surface temperature is now close to 900 degrees.
Regulation is published by the Cato Institute.
No. That’s not a misprint. It’s the same think tank that has been telling us for years that climate change is no cause for alarm.
“The media, for whatever reason, has chosen a role for itself as a cheerleader for climate boondoggles. And the more specialized the media . . . the more completely it will devote itself to misleading the public about the true nature of the climate challenge in our democracy.” Holman Jenkins, Wall Street Journal.