Last week’s House Ways & Means Committee hearing on “scientific objectives for climate change legislation” contained much grist for skeptical mills.
Dr. James Hansen did not challenge any of Dr. John Christy’s specific arguments that UN climate models overestimate climate sensitivity. Instead, he advised Congress to ask the National Academy of Sciences for an “authoritative” assessment, because the science is “crystal clear.”
Hansen was quite harsh in criticizing Kyoto (an “abject failure”) and carbon trading (a politically unsustainable hidden tax for the benefit of special interests). He outlined a proposal for what he calls carbon “Tax & Dividend,” whereby 100% of the revenues would be refunded to the American people via monthly deposits to their bank accounts.
As I discuss here, Hansen’s beguiling proposal could decimate coal-based power in a decade or two, pushing electricity prices up faster than dividend payments increase, and saddling the economy with a growth-chilling energy crisis.