Money and carbon

Bill Doskoch compares the climate crisis to the credit crisis: figuring out what to do is hard, and then doing it is harder, but the fact we don’t want to deal with it doesn’t mean it isn’t coming for us.

Many commentators saluted the “resilience” of the U.S. consumer without noting that it was all being done with borrowed money.

And now, the bill is becoming due. Years of economic pain will be the likely result.

To my mind, we’re running a climate deficit by pumping carbon into the atmosphere to keep today’s economy propped up (in part so we can buy stuff we don’t really need by using borrowed money). The longer we put off meaningful action on reducing emissions, the greater the bill will be — and as this post shows, things are getting worse globally instead of better.

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