Ex-Bush Economist: Don't Regulate Carbon, Adjust to Warmer World

Image: Ex-Bush Economist: Don't Regulate Carbon, Adjust to Warmer World Edward Lazear, Council of Economic Advisors. (Dennis Brack/Landov)

Wednesday, 03 Sep 2014 10:29 AM

By Melanie Batley

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
The Obama administration should abandon its policies to mitigate climate change and instead focus on adapting to a warmer world, said Edward Lazear, a former economic adviser to President George W. Bush.

In an opinion piece for The Wall Street Journal, Lazear, who is a professor at Stanford University's Graduate School of Business and a fellow at the Hoover Institution, said carbon emissions reductions will not make a difference in reducing the world's total emissions. 

"The Obama administration is instituting a variety of far-reaching policies to reduce carbon emissions and mitigate climate change. Are any of these capable of making a difference? Simple arithmetic suggests not. Given this reality, we would be wise to consider strategies that complement and may be more effective than mitigation—namely, adaptation," Lazear wrote.

NASA Expert: The End of Global Warming

Lazear notes that China, India, and other developing countries are expected to continue to increase their emissions in the coming years, with China, the largest emitter, accounting for one-fourth of the total carbon produced.

"Without worldwide changes, there is limited gain, even from dramatic action by the world's second-largest emitter," he wrote.

Lazear contends that reductions in carbon emissions from transportation, for example, would hardly make a dent in reducing total U.S. emissions, while the economics of transforming power production could not be justified given the low costs of coal.

"Unless an economical low-carbon source of power generation becomes available, it is unrealistic to expect that countries, especially developing ones, will accede to any demand to produce power in a higher-cost manner merely to emit less carbon," Lazear wrote.

Meanwhile, Lazear said that even though high carbon taxes would likely spur conservation and prompt take-up of lower carbon power sources, they would have adverse effects on the economy.

NASA Expert: The End of Global Warming

"Given these limitations on mitigating carbon emissions, it is important to study how to adapt to climate change," Lazear said, adding that groups such as the U.N.-sponsored Intergovernmental Panel on Climate Change have supported adaptation as a complementary strategy to mitigation.

"Carbon math makes clear that without major effort and a good bit of luck, we are unlikely to control the growth of emissions enough to meet the standards that many climate scientists suggest are necessary. It is time to end the delusions and start thinking realistically about what can and will be done."

Related Stories:

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Boehner's Christmas Carol Celebrates a GOP Congress

Thursday, 18 Dec 2014 23:15 PM

Republican House Speaker John Boehner put his own political spin on "a Christmas reading" on his YouTube page Thursday,  . . .

Dershowitz: Hollywood Should Have Followed Rushdie Example

Thursday, 18 Dec 2014 22:29 PM

Hollywood should have rallied around Sony Pictures and released "The Interview" jointly online, says Harvard law profess . . .

Army Pulls ROTC Job Posting Requiring Christian Candidates

Thursday, 18 Dec 2014 22:18 PM

The Army has pulled a job posting at an Illinois religious college that required leaders of its ROTC program to be Chris . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved