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BUY CIALIS SOFT PILLS NO PRESCRIPTION, Most hyperbolic assertions about the need to move on climate change policy in order to gain energy "independence" are just that -- hyberolic assertions without factual support. In fact, the failed cap and trade bills in the 111th Congress would have had little or no impact on our energy security -- if by energy security one means, as one commonly does, reduced dependence on foreign oil. The reason? Any cap and trade bill that starts with a low price on carbon (as they should) is unlikely to reduce oil consumption.
Enter today the respected International Energy Agency (IEA) and its warning about failure to fulfill climate pledges being likely to cause oil price spikes (reported in the FT at http://www.ft.com/cms/s/0/bc40251a-e787-11df-b5b4-00144feab49a.html). The title of the article: "IEA fears oil price spike if climate pledges fail."
Beyond the headline: the real issue is two-fold, as IEA warns about failure "to implement pledges to fight climate change and cut fossil fuel subsidies, warning that a failure to do so would significantly inflate oil prices."
We've added emphasis to the clause about cutting fossil fuel subsidies, as that's where the real savings would occur. In fact, while the article notes that IEA believes implementing both policies "would see demand for oil almost 10 per cent lower by 2035 than under current policy commitments" a September 2010 projection by the OECD (http://www.oecd.org/document/30/0,3343,en_2649_37465_45411294_1_1_1_1,00.html) found that "ending fossil fuel subsidies could cut global greenhouse gas emissions by 10% from the levels they would otherwise reach in 2050 under business as usual."
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