Tuesday , July 14 2020
Home / Tim Worstall /Perhaps the Committee on Climate Change could make up its mind?

Perhaps the Committee on Climate Change could make up its mind?

Summary:
The Committee on Climate Change has decided to favour us with its thoughts on how we do indeed deal with climate change. In the process they’ve illustrated why the Stern Review insisted we do not plan for this, rather, we set the market up with the correct incentives then see what emerges. Just as the one example we offer you this:Energy networks must be strengthened for the net-zero energy transformation in order to support electrification of transport and heating. Government has the regulatory tools to bring forward private sector investment. New hydrogen and carbon capture and storage (CCS) infrastructure will provide a route to establishing new low-carbon British industries.We have not elided anything from that quote. That is actually what they say. The problem with it being that in

Topics:
Tim Worstall considers the following as important:

This could be interesting, too:

Tyler Durden writes China’s Stealth Jet With Thrust Vectors Enters Mass Production

Tyler Durden writes What Greta Thunberg Forgets About Climate Change

Tyler Durden writes US Recovery Stalls As Pandemic ‘Second Wave’ Threatens To Unleash Double-Dip Recession 

Tyler Durden writes What Is The Real Purpose Of The Lockdowns?

The Committee on Climate Change has decided to favour us with its thoughts on how we do indeed deal with climate change. In the process they’ve illustrated why the Stern Review insisted we do not plan for this, rather, we set the market up with the correct incentives then see what emerges. Just as the one example we offer you this:

Energy networks must be strengthened for the net-zero energy transformation in order to support electrification of transport and heating. Government has the regulatory tools to bring forward private sector investment. New hydrogen and carbon capture and storage (CCS) infrastructure will provide a route to establishing new low-carbon British industries.

We have not elided anything from that quote. That is actually what they say. The problem with it being that in the third sentence they entirely contradict the first. For hydrogen - one of us has done substantial work on hydrogen to power cars - is an alternative to electrification. Hydrogen can be burnt, for example, producing both heat and cooking. It can also be used as the equivalent of a battery in storing power. It can be used to power transport as well, there are a number of different possible fuel cell technologies out there.

The Stern Review really did say that we should not be using planning to try to deal with this problem. Simply because planning ends up in foolishness like the above. Instead, set the incentives and leave the market to do the heavy lifting - as Hayek pointed out, that entire economy out there is the only calculating engine we’ve got capable of working at the required level of complexity.

What really irritates is the number of people who will use the Stern Review as proof that something must be done but then gaily go off to ignore what the Stern Review insists what must not be done.

Media enquiries: 07584 778207 (Call only, 24 hour)

Tim Worstall
Tim Worstall is a British-born writer and Senior Fellow of the Adam Smith Institute. Worstall is a regular contributor to Forbes and the Register. He has also written for the Guardian, the New York Times, PandoDaily, the Daily Telegraph blogs, the Times, and The Wall Street Journal. In 2010 his blog was listed as one of the top 100 UK political blogs by Total Politics.

Leave a Reply

Your email address will not be published. Required fields are marked *