March 15, 2012

Global Warming: No Need to Panic

Recently, Nobel Prize winner physicist Ivar Giaever publicly resigned from the American Physical Society (APS) with a letter that begins: "I did not renew because I cannot live with the [APS policy] statement: 'The evidence is incontrovertible: Global warming is occurring. If no mitigating actions are taken, significant disruptions in the Earth's physical and ecological systems, social systems, security and human health are likely to occur. We must reduce emissions of greenhouse gases beginning now.' In the APS it is OK to discuss whether the mass of the proton changes over time and how a multi-universe behaves, but the evidence of global warming is incontrovertible?"

A statement signed by 16 scientists such as William Kininmonth, former head of climate research at the Australian Bureau of Meteorology; Rodney Nichols, former president and CEO of the New York Academy of Sciences; William Happer, professor of physics, Princeton and others says: "...Speaking for many scientists and engineers who have looked carefully and independently at the science of climate, we have a message to any candidate for public office: There is no compelling scientific argument for drastic action to "decarbonize" the world's economy. Even if one accepts the inflated climate forecasts of the IPCC, aggressive greenhouse-gas control policies are not justified economically..."

In a subsequent letter, these scientists noted: "A premature global-scale transition from hydrocarbon fuels would require massive government intervention to support the deployment of more expensive energy technology. If there were economic advantages to investing in technology that depends on taxpayer support, companies like Beacon Power, Evergreen Solar, Solar Millenium, SpectraWatt, Solyndra, Ener1 and the Renewable Energy Development Corporation would be prospering instead of filing for bankruptcy in only the past few months.
The European experience with green technologies has also been discouraging. A study found that every new "green job" in Spain destroyed more than two existing jobs and diverted capital that would have created new jobs elsewhere in the economy. More recently, European governments have been cutting subsidies for expensive CO2-emissionless energy technologies, not what one would expect if such subsidies were stimulating otherwise languid economies. And as we pointed out in our op-ed, it is unlikely that there will be any environmental benefit from the reduced CO2 emissions associated with green technologies, which are based on the demonization of CO2."