Saturday, May 22, 2010

Emission, er, Economy Reductions

The UK government will push the EU to move to a higher target for cutting greenhouse gas emissions. It will urge the EU to cut emissions by 30% from 1990 levels by 2020, rather than the current 20% target ... In 2009, EU leaders endorsed two targets for greenhouse gas emissions - 20%, rising to 30% in the event of a global deal on climate change. ... But the recession has lowered emissions across the continent, making the higher target more easily achievable. Link.

You know what the first thing that crossed my mind was when I read that? They're locking in the losses. They're making their much-reduced economy the new normal, and going on from there. Recovery be d*****.


Blogger Noumenon said...

Makes sense when you put it that way. If you push the targets when the economy is high, you have to destroy functioning businesses. If you wait for a recession to destroy the weak ones, then you have a choice: rebuild the economy using the same unsustainable approach as before, or change the incentives so that the path to economic growth leads through low-emissions business plans. ie, as an out-of-work entrepreneur, it's time to figure out some wind power gimmick rather than something like the drive-thru.

Sure it'll keep headline GDP low, but you don't want to maximize that number, it's like basing your shopping plan on what maximizes calories.

4:53 AM  

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