Steve Sawyer backs Economist’s editorial from yesterday:




Either governments are not serious about climate change or fossil-fuel firms are overvalued

“Sometimes I despair about ever making any progress on the climate issue. But when a formerly skeptical and very hard-nosed publication like the Economist comes up with an editorial like this, it seems we may have some hope after all. Many have been making this argument as far back as the mid-1990s, but when it appears in an editorial in the Economist, those with carbon-laden balance sheets should sit up and take notice. Then again, it may very well be the case that governments AREN’T serious about tackling climate change; as IEA Chief Economist Fatih Birol points out (and I never tire of repeating), governments are currently subsidizing CO2 emissions to the tune of US$ 110/tonne through fossil fuel production and consumption subsidies…but at the very least this piece clears up any ambiguity to the point so that no one can say they didn’t know precisely what they were doing…”

 

See the Economist article on www.economist.com/news/business/21577097-either-governments-are-not-serious-about-climate-change-or-fossil-fuel-firms-are