Friday, January 25, 2008

Cost of "Climate Change" Exaggerated

At last the Government is admitting that the Emperor has no clothes!

From the SMH:

Think tank questions Stern review on costs

THE Federal Government's top economic think tank is concerned that the influential Stern review on climate change substantially exaggerated the economic costs of global warming.

Productivity Commission researchers have found that Sir Nicholas Stern's estimates that global warming would cost $9 trillion rested on "value judgments and ethical perspectives" rather than conventional economic methodologies.

They say the review was as much an exercise in advocacy as economic analysis and just one small change to a central assumption would have cut its estimates of the cost of climate change in half.



Read more here

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