"Carbon (Dioxide) trading is now the fastest growing commodities market on earth.....And here’s the great thing about it. Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon (dioxide) market is based on lack of delivery of an invisible substance to no-one. Since the market revolves around creating carbon (dioxide) credits, or finding carbon (dioxide) reduction projects whose benefits can then be sold to those with a surplus of emissions, it is entirely intangible." (Telegraph)
This blog has been tracking the 'Global Warming Scam' for over five years now. There are a very large number of articles being published in blogs and more in the MSM who are waking up to the fact the public refuse to be conned any more and are objecting to the 'green madness' of governments and the artificially high price of energy. This blog will now be concentrating on the major stories as we move to the pragmatic view of 'not if, but when' and how the situation is managed back to reality. To quote Professor Lindzen, "a lot of people are going to look pretty silly"
PS: If you have arrived here on a page link, then click on the HOME link...
Tuesday, 13 August 2013
Scathing MIT Paper Blasts Climate Models as 'Close to Useless' & 'Can get any result one desires'
"Robert S. Pindyck is a professor of economics and finance at MIT, with several decades’ experience publishing articles and books dealing with energy. Moreover, as he explains in this interview, Pindyck believes that man-made emissions of CO2 and other greenhouse gases will impose climate change damages on future generations, and is an advocate of a carbon tax agreement among the major world governments (though he is doubtful such a tax is politically feasible). With a pedigree like that, you might expect Pindyck to be very complimentary about the computer models that the Obama Administration and other policymakers are using to justify the economics of anti-carbon measures. But as it turns out, Pindyck has written a new, peer-reviewed paper(forthcoming in the Journal of Economic Literature) that is absolutely scathing in its critique of such models. In this post I’ll highlight some of his points."