Earlier posts have referred to the extensive study on the climate change investment opportunities in the context of the credit crisis.
One of their conclusion is very clear. Prices of oil and gas will go up because demand outstrips supply, but the price of coal will drop because there is enough. Without a pricing mechanism that will price in the externality (the costs to society of the emissions) coal will grow at the expense of sustainable alternatives and CO2 emissions will grow. They see no alternative for a cap-and-trade mechanism for emissions.
Time for our governments to get cracking.
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