Yale economist Robert Repetto created an interactive website displaying possible economic gains based on cutting carbon emissions. The interactive is based on seven key assumptions pulled from various other models. Repetto decided to put together the best models out there to give a more comprehensive view.
The interactive asks you to decide how likely the seven key assumptions are, and then gives you the standard projected economic growth compared to your predictions. It even shows a worse case scenario. I did it based on my own predictions and found that we would come in just under our expected GDP by the year 2030. The important concept here is that worse case scenario, we’re still growing, and we’re still making money.
The personal problem I have is that the model is based strictly on cutting carbon emissions. We all know that the issue is far more complex than that, at least when it comes to government actions. The real elephant in the room right now is energy independence (which coincides nicely with carbon emissions for the most part). Though impossible to predict all pros and cons of moving away from oil and the like, I’m waiting to see a model that considers these priceless contributions. I just don’t see it happening very quickly unless the government is spurred on by something along the lines of national security. Without government support, the free market will take a while to figure out renewable energy, especially with oil companies around.
Source: Discovery News
