Sunday, July 28, 2019

Eight double spaced pages that might change the world.

Geoffrey Heal computes the cost of going entirely to renewables by the year 2050.  The paper is short and to the point.  His computations are:

US GDP is currently a shade under $20 trillion.  If Heal is correct, this means the cost of going to all renewables is ~ 11 basis points per year over the next 31 years.  It is hard to imagine that the negative externalities of fossil fuel are less than 11 bps.  Heal also argues that costs will, if anything, be lower than the computed costs.

Imagine--it is possible to stop greenhouse gas emission while improving the economy.  

No comments: