Today’s article is a piece of Good News! British Gazette readers will be very pleased to learn that the most excellent and learned professor has come up with a proposal that effectively will place those such as the unfortunate Mr Ed Davy Secretary of State for Energy and Climate Change on the spot.
The professor has written a paper: “An Evidence-Based Approach To Pricing CO2 Emissions” which proposes to link the level of a tax on CO2 emissions to temperatures in the tropical troposphere, and to create a 30-year futures market for tax-exemption certificates. Investors would then have long term certainty about the carbon price, and the future tax rates would incorporate all known evidence of the likely path of global warming.
Basically what the proposal does is this: it presents to such as Mr Davy an answer to the problem (that British Gazette readers know DOES NOT EXIST!) he seems to be concerned about, namely rising CO2 levels and “the warming of the planet” that he cannot reject whilst retaining credibility. You see, were what Mr Davy believes is correct and Planet Earth is warming up, then the “polluters will pay” and this is something that such as Mr Davy cannot object to. However, since Planet Earth is going to be getting COOLER for a period (something Mr Davy refuses to accept), industry and commerce will not have to pay!
Of course, this is based on the assumption that Mr Davy is like the Emperor in Hans Christian Andersen’s tale is a FOOL. If of course Mr Davy sees through the Professor’s brilliancy, and realises that he is NOT going to receive increased taxes, and therefore objects, he is a FRAUD!
“If the climate models are correct, the carbon tax will rise significantly as CO2 levels rise; but if the temperatures remain stagnant or low, then the tax and its economic cost will remain low too,” said Professor McKitrick. ”Either way we get the right outcome, and the market will reward industries and investors who make the most objective use of available science in forming long term plans.
Professor David Henderson writes in the foreword to the GWPF paper. “The temperature-based procedure that McKitrick outlines in his paper would provide a strong incentive for more thorough and objective analysis of possible future developments in the climate system. It thus offers a blueprint for an evidence-based low-cost emissions policy that would also promote the cause of better understanding,”
The paper is available here: (http://www.thegwpf.org/content/uploads/2013/07/McKitrick-Carbon-Tax-10.pdf)