Triumph of the flat-earth Republicans

It is possible to understand how people might disagree that climate change is a threat to public health (we’ll all just start farming wheat in Siberia or northern Canada) or that humans are the main cause of rising temperatures (sunspots! natural variation!). But I still find it confounding that 31 Republicans are willing to deny, flat-out, that temperatures are rising, period.

From Triumph of the flat-earth Republicans

In related news, the GOP is going to cure cancer by voting that it doesn’t exist.

2010 Was The Hottest Year Ever

The National Oceanic and Atmospheric Administration (NOAA) today announced that “2010 tied with 2005 as the warmest year of the global surface temperature record,” and 2010 is also “the wettest year on record, in terms of global average precipitation.” The year was by far the hottest during a La Niña cycle, during which the equatorial Pacific Ocean is unusually cold.

From 2010 Was The Hottest Year Ever

Coincidences that just keep happening.

Is the threat of speculation a reason to shun cap and trade?

Any time you have a market, there’s some opportunity for speculation. Even if the good being traded isn’t storable, there may be a futures market, so you can bet on the future price.

For example, the fact that wheat is traded means that there’s also a wheat futures market; and because wheat can be stored, futures prices affect spot prices.
So, should fear of speculation lead us to ban trading in wheat?

Now substitute “emission permits” for wheat. It’s exactly the same story.

From: http://krugman.blogs.nytimes.com/2009/07/21/is-the-threat-of-speculation-a-reason-to-shun-cap-and-trade/

The best defense of the use of market forces to control pollution comes from who else but Paul Krugman.