Someone alert the Guinness Book of World Records! In 2010, humans set a new all-time high for global greenhouse gas emissions, according to an International Energy Agency analysis released yesterday.
If you are an alarmist, then this is one of your many causes for concern. If, however, you are a global warming “denier” like me, then this is a cause for celebration, because more emissions translate into more wealth creation!
Allow me to explain. About 85 percent of the world’s energy is derived from the combustion of fossil fuels, which is also the primary source of greenhouse gas emissions. Because every act of economic production requires an energy input, economic growth and greenhouse gas emissions increase together in lockstep. Reports Reuters:
Global emissions of carbon dioxide hit their highest level ever in 2010, with the growth driven mainly by booming coal-reliant emerging economies, the International Energy Agency’s chief economist said on Monday.
…“It’s a very strong rebound in CO2 emissions, driven mainly by the non-OECD countries,” [Faith] Birol [IEA’s chief economist] told Reuters in an interview, adding three quarters of the growth came from emerging economies such as China or India.
Poor people are getting less poor. To me, that’s a great thing. Any warmer winters are merely a bonus.