$45 TRILLION Needed To Combat Global Warming
TOKYO, June 6 - (Kyodo)—The world needs to invest at least an additional $45 trillion through 2050 in technology and its deployment to halve global carbon dioxide emissions by that time from current levels, the International Energy Agency said Friday.
The IEA said the investment target translates into about $1.1 trillion each year, which represents 1.1 percent of average annual global gross domestic product or roughly on par with Italy’s current GDP.
In its latest publication, Energy Technology Perspectives 2008, the Paris-based agency highlighted the importance of accelerating efforts to develop and introduce innovative technology to achieve the CO2 reduction goal.
On the back of strong demand for power from China, India and other emerging economies, the IEA said on average each year 25 gas-fired and 35 coal-fired power plants must be equipped with new CO2 capture and storage technology between 2010 and 2050 at a cost of $1.5 billion each.
In addition, the IEA, formed by 27 industrialized countries, estimated that 17,500 wind power turbines and 32 new nuclear power plants will have to be built around the world every year.
The 643-page report was made in response to a request from leaders from the Group of Eight leading economies to provide scenarios on what needs to be done until 2050 to achieve better energy use.
The extensive recommendations and estimates in the report will serve as the basis for discussion July 7-9 at the G-8 summit meeting in Hokkaido, northern Japan. The summit will bring together leaders from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States.
“This is exactly our response” to the G-8 countries, IEA Executive Director Nobuo Tanaka said in Tokyo shortly after the release of the publication, which came ahead of this weekend’s G-8 energy ministers meeting in the northeastern Japanese city of Aomori.
“We will require immediate policy action and a technological transition on an unprecedented scale,” Tanaka, who will also attend the energy meeting, said at the Japan National Press Club.
“It will essentially require a new global energy revolution which would completely transform the way we produce and use energy,” he said.
To achieve the 50 percent cut target, the IEA, founded in 1974 in the wake of the first oil crisis, said the deployment of not-fully prevalent technology is required, including 215 million square meters of solar panels and nearly a billion electric or hydrogen fuel cell vehicles.
(AP)
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Please, when is the hoax and the bluff going to be called? This has become preposterous. I can’t take it anymore. People are starving (due to their grain being used to make fuel–where are the bleeding hearts?) and these liberals are more worried about a phantom carbon problem.
June 5th, 2008 at 9:47 pm
Somebody is looking to make bank. 
June 5th, 2008 at 10:08 pm$45 Trillion?!? Where’s the exit strategy for that blunder?
June 6th, 2008 at 3:13 amRevolution is in order.
June 6th, 2008 at 3:28 amIf this BS continues the civilized world is going to look like pre-revolution France. The oppressive ‘elites’ need to brought into the light and publicly decapitated.
small towns across the US are suffering,small businesses are suffering, people are suffering. all for the green people
June 6th, 2008 at 4:02 amPANIC! PANIC! PANIC! These green idiots (or “boogers” as I like to call them) are so transparent. Cry wolf when there is no wolf. Scream for money, invade everyone’s private lives, snuff out the bbq’s, walk, don’t drive. Social change through lies and politics. It’s the Socialist, DFL way to do things.
There’s less evidence of global warming than there is for evolution and evolution can stand zero scrutiny. Except maybe if you consider monkey boy. He looks like the missing link.
Start contacting your Senators TODAY (where the vote is hung up presently) and tell them not to support the global warming agenda. I know John McCain is totally behind this stuff and that’s really too bad. He needs to stop pandering to these boogers as well.
June 6th, 2008 at 5:59 am