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Saturday, November 24, 2007

And now we know...

at least what some environmentalists are all about?

From the Penn Law Review:
The best approach to a global externality is a well-designed global regime that engages all major GHG [Green House Gas] emitters.
Global regime? And who, pray-tell, would be in charge of this global regime?

The article basically suggests that state and national level policies concerning environmental issues are not necessarily guaranteed to work because the environmental externalities caused by private (and public?) behaviors are not fully internalized.

I'll admit the possibility, but the dramatic costs (at least in my eyes) of a "global regime" far outweigh the beneifts such a regime might generate.

I have to agree with you.

The main problem, as I see it, with setting international environmental policy, with regards to GHG's, is that it's hard to enforce (read:impossible) and it can end up giving the most benefit to the firms (or countries) that pollute the most.

See the Kyoto Protocol.

Little nugget there is "One hundred thirty seven (137) countries have ratified the protocol, but have no obligation beyond monitoring and reporting emissions."

Goin to go catch a free ride.
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