In our eagerness to avoid about $1 trillion worth of climate damage, we are being asked to spend at least 50 times as much -- and, if we hinder free trade, we are likely to heap at least an additional $50 trillion loss on the global economy.
I'm not entirely sure about his numbers. He quotes a report that will be released next year. Nevertheless, I'm extremely concerned that the supposed taxing of carbon at borders to impose the anti-climate change regime in Western nations will end up hurting more than the benefits. Plus, the pain will be largely on the developing world.
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