0.17 Energy: global warming change  (Page 6/8)

1. curtail deforestation especially tropical deforestation

We have already noted in Chapter ___ that after China and the U.S., the largest source of CO ₂ emissions has in years from 1975-2010, come from Brazil and Indonesia, owing to annual deforestation of wide swaths of their tropical forests. Forests annually absorb millions of tons of CO ₂ through photosynthesis. As we noted earlier forest destruction and in particular burning of forests is responsible for 20% of Global Carbon emissions annually. Higher taxes and royalties on timber harvests, reforms on property rights, plus removal of all subsidies for forest clearing and for ethanol from palm oil would contribute materially to curtailing buildup of greenhouse gasses, and contribute to other economic and environmental goals as well.

2. drastically curtail all subsidies for consumption of fossil fuels (and ethanol from corn) worldwide

We have previously discussed in Chapter 17, energy subsidies at length and their impact on income distribution (very pro-rich) and resource allocation (economic waste).

In 2012 a dozen nations account for 75% of the worlds subsidies on oil, gas and diesel fuel. All but one are emerging nations. Iran tops the list at $82 Billion. Saudi Arabia was next at $81 Billion, then Russia, China and India. Each of these spent $60 Billion on the subsidy. Other major energy subsidizers: Venezuela, Egypt, Mexico and Algeria, and until late 2014, Indonesia.

In addition mindless U.S. subsidies to 120 plants producing ethanol from corn are as reckless and pernicious as any subsidy anywhere.

The policy has been clearly misguided. Scientists in 2007 warned of the danger of failure of the Federal Corn for Ethanol policy as an anti-global warming tool. Too many Midwest farmers plowed over virgin land to plant more corn. Since 2007, 6.7 million acres of grassland and conservation land has been lost since the federal government required that gasoline be blended with ethanol. How big is 6.7 million acres? Larger than Yellowstone Park, Everglades Park and Yosemite Park all combined. Further 1700 gallons of increasingly precious fresh water is required for the corn needed for each gallon of ethanol. Plowing virgin grasslands to get more acerage for corn releases CO ₂ locked into the soil. Making matters worse, the corn farmers have used increasing volumes of fertilizer especially nitrogen and other chemicals that eventually end up in rivers in the region and ultimately, the Gulf of Mexico.

The nitrogen and other chemicals leak into watersheds. Massive applications of fertilizer for corn in the Midwest have vastly enlarged the “dead zone” in the Gulf of Mexico – an 8,000 sq. mile area where nothing can survive. As of 2009, 30% of the nation’s corn crop was used to make ethanol that amounted to 8% of U.S. gasoline supplies. Just to replace 10% of U.S. gas and diesel consumption, the U.S. would need to convert 40% of cropland to ethanol.

3. enact new and/or increase existing carbon taxes

Existing taxes can be increased to provide further market -based incentives to curtail growth of CO ₂ emissions. In any dynamic strategy, such taxes are best linked to actual global warming. Once the relationship between atmospheric CO ₂ and global warming is more closely established, carbon emissions taxes could be made rise by $4 to $20 per decade, depending on need.