This economist clearly has faith in IPCC climate models and theories, but he may be in for his own shock by putting all his climate eggs in the carbon dioxide emissions basket. Meanwhile, brace for economic pain.
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The vast expense of ending global warming [Talkshop comment: reality may differ] will trigger a blow to the world economy that is as damaging as the 1974 oil shock, a top international economist has warned. The Telegraph reporting.
A scramble to cut carbon emissions is likely to send energy prices rocketing and hold back living standards for years to come, Jean Pisani-Ferry said in a report published by the Peterson Institute for International Economics.
Mr Pisani-Ferry – a public policy expert who has served in senior economic roles in the European Union for decades – said that although the bill is both manageable and necessary to halt climate change…
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