The pressure to “do something” about global warming has created exotic new programs that emphasize reducing output. You might think of them as markets in non-production. I will explain them. Carbon offsets. Companies that produce or use fossil fuels are trying to reduce their “carbon footprint” but still continue their business. They are purchasing “offsets”—that…
Tag: carbon offsets
The Fantastical World of Carbon Offsets
In a tongue-in-cheek article in RealClearEnergy, Steve Milloy observes that Norway has figured out how to reduce carbon-dioxide emissions while still building up its oil and gas production by 40 percent, providing a lesson for the rest of the world. Norway is buying “carbon offsets” in the African country of Gabon, paying the Gabonese to…