Why mitigating CO2 emissions is cost-ineffective

WUWT
"So, even if the cap-and-trade scheme is every bit as successful as its promoters would wish, only 0.34% of global emissions – one-third of one per cent – will be abated. There is nothing in the least controversial about this figure, except that no one seems to have pointed it out before. The legislators’ faces were a picture when I told them. .....To put all of this in context, the cost of abating the one-third of a Fahrenheit degree of warming that the IPCC imagines will happen over the decade of the scheme, if everyone worldwide were crazy enough to adopt measures as laughably cost-ineffective as these, would be $25,000 per head of the world population, or one-third of global GDP over a decade. This would be 26 times the cost enduring the welfare loss that might arise from the global warming we fail to prevent if we do nothing. .....So far, there has been no global warming at all since 2001. In fact, on the latest data from the Hadley Centre and the Climatic Research Unit at the University of East Anglia, there has been no statistically-significant warming for fully 15 years."