Critic: Even if global warming was real, it wouldn't cost U.S. a dime for the next 91 years

"Democrats in the White House and Congress are now making the most serious push ever for legislation to force reductions of U.S. carbon-dioxide emissions. The stated purpose is to reduce potential future harm from human-caused climate change, and the vehicle is a climate-and-energy bill commonly referred to as Waxman-Markey. But the reasoning behind this proposal is innumerate, even if we accept the scientific and economic assumptions of its advocates.

According to the authoritative U.N. Intergovernmental Panel on Climate Change (IPCC), under a reasonable set of assumptions for global economic and population growth, the world should expect to warm by about 2.8°C over the next century. Also according to the IPCC, a global increase in temperature of 4°C should cause the world to lose about 3 percent of its economic output. So if we do not take measures to ameliorate global warming, the world should expect to be about 3 percent poorer sometime in the 22nd century than it otherwise would be. This is very far from the rhetoric of global destruction. Because of its geographical position and mix of economic activities, the United States is expected to experience no net economic costs from such warming through the end of this century, and to begin experiencing net costs only thereafter."

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