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LIMITS TO FOSSIL ECONOMY GROWTH November 21, 2012

Posted by wmmbb in Global Warming (climate change).
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The World Bank ahead of the latest international meeting on the Climate Crisis, next week in Doha, Qatar has is warming that the fossil fuel economy will hit the wall unless the 4 degree Celsius increase in Average Global Temperature.

To provide the context, this expected temperature if the status quo continues is extraordinary. The Occupy Movement is on the case. In the text on their Occucards they explain the situation up until now:

Since the early 1900s, the earth’s average temperature has risen by 1.5° F (0.83° C). Two thirds of this increase (1° F) has taken place in just the last thirty years, and has resulted in the melting of hundreds of billions of tons of arctic sea ice, the raising of ocean levels 4 to 8 inches, and a dramatic increase in the frequency and intensity of extreme weather events. In recent years, abnormal droughts, heat waves and floods have led to thousands of deaths, reduced crop yields, and a dangerous increase in cropland desertification. Global surface temperatures are expected to rise a further 2 to 11.5° F (1.1 to 6.4° C) by the end of this century, threatening catastrophic consequences for human civilization and all life on the planet.

Dr James Hansen was mentioned. Here he addresses 75 international union leaders at a meeting in New York City sponsored by Cornell University:

The points that stand out for me in this presentation is that half the effect of the build up of greenhouse gases in the atmosphere has not had an effect yet, the significance of the ice melt, the prospect of eco-system collapse, the Argo Floats an the measurements of the Gravity Satellites.

The story about the fossil fuel economy is the crunch. Stephen Leahy at Al Jazeera writes:

Two-thirds of the world’s proven fossil fuel reserves cannot be used without risking dangerous climate change, the International Energy Agency (IEA) warned this week.

Preventing the consumption of those two-thirds will be the primary task of the annual UN climate negotiations that resume at the end of this month.

We are familiar with the rhetoric about markets. So what is a market anyway? The operation of the Oil Market as explained is not what could be expected. The claim is made that corporations earn more from extraction of oil than from sale to consumers. The difference is made up by government subsidies. What? The suggestion is then made that money should be invested in alternative fuels, especially when it has been calculated that most coal, 22% of coal and 15% of natural gas must remain sequestered underground.

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