The Green Paradox is a phrase coined by German economist Hans-Werner Sinn to describe the fact that an environmental policy that becomes greener with the passage of time acts like an announced expropriation for the owners of fossil fuel resources, inducing them to anticipate resource extraction and hence to accelerate global warming.
The Green Paradox’s line of reasoning starts by recognizing a fundamental, unavoidable fact: every carbon atom in the gas, coal or oil extracted from the ground to be used as fuel ends up in the atmosphere, in particular if high efficiency combustion processes ensure that no part of it ends up as soot. About a quarter of the emitted carbon will stay in the atmosphere practically forever, contributing to the greenhouse effect that causes global warming.
Apart from afforestation, only two things can mitigate the accumulation of carbon in the atmosphere: either less carbon is extracted from the…
View original post 397 more words