Author Topic: $750 billion "green" investment could revive economy: U.N.  (Read 3318 times)

Desertdog

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$750 billion "green" investment could revive economy: U.N.
« on: March 19, 2009, 05:27:14 PM »
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"If, for argument's sake, you were to put a five-year levy in OECD countries of $5 a barrel, you would generate $100 billion per annum. It translates into roughly 3 cents per liter," he said.
It has started, the robbers are trying to get their nose under the tent.  If they start taxing the oil, every so often they will need to up the tax revive their economy even more!

$750 billion "green" investment could revive economy: U.N.
Thu Mar 19, 2009 4:24am EDT
By Alister Doyle, Environment Correspondent

http://www.reuters.com/article/environmentNews/idUSTRE52I09T20090319?feedType=RSS&feedName=environmentNews&rpc=22&sp=true

OSLO (Reuters) - Investments of $750 billion could create a "Green New Deal" to revive the world economy and protect the environment, perhaps aided by a tax on oil, the head of the U.N. environment agency said on Thursday.

Achim Steiner said spending should focus on five environmental sectors including improved energy efficiency for buildings and solar or wind power to create jobs, curb poverty and fight climate change.

"The opportunity must not be lost," Steiner, head of the U.N. Environment Program (UNEP), told Reuters of a UNEP study that will be put to world leaders meeting in London on April 2 to work out how to spur the ailing economy.

The UNEP report said investments of one percent of global gross domestic product, or about $750 billion, could bankroll a "Global Green New Deal" inspired by the "New Deal" of U.S. President Franklin D. Roosevelt that helped end the depression of the 1930s.

Investments should be split between more energy efficient buildings, renewable energies, better transport, improved agriculture and measures to safeguard nature -- such as fresh water, forests or coral reefs, it said.

Thursday's study adds details of spending after UNEP called for a Green New Deal late last year.

Steiner also said that the world urgently needed funds to jump start a U.N. deal to fight global warming, due to be agreed in Copenhagen in December to succeed the U.N.'s Kyoto Protocol beyond 2012.

He floated the possibility of taxing oil in rich nations of the Organization for Economic Cooperation and Development (OECD) to help a new pact become the cornerstone of a greener economy.

"If, for argument's sake, you were to put a five-year levy in OECD countries of $5 a barrel, you would generate $100 billion per annum. It translates into roughly 3 cents per liter," he said.

UNNOTICED

"It would be almost, if not totally, unnoticed by the consumer," he said, especially since oil prices have fallen from more than $140 a barrel at mid-2008 peaks to about $40.

A barrel of oil contains 158 liters and OECD consumption is about 20 billion barrels a year, he said. "This is just one example, there may be many others," of funding, he said.

"I am concerned about the prospect of a meaningful deal in Copenhagen if there is not a significant financial package on the table," he said. Cash would encourage poor nations to step up actions to curb rising greenhouse gas emissions.

"The argument that we cannot afford this does not, on any serious analysis, hold much water -- especially given the cost to the global economy of failure to act on climate change," he said.

Carbon markets, which could also be a source of funds to help fight climate change, were unlikely to contribute enough cash in early years of a new climate deal, he said.

Steiner said there were promising signs that economic stimulus packages by many nations, ranging from the United States to China, were being tailored to help a shift toward greener growth and away from dependence on fossil fuels.

The U.N. Climate Panel says that greenhouse gases from burning fossil fuels are a prime cause of warming that will cause more heatwaves, droughts, rising sea levels and more powerful storms.

-- For Reuters latest environment blogs click on: blogs.reuters.com/environment/

(Editing by Jon Boyle)

« Last Edit: March 19, 2009, 05:31:06 PM by Desertdog »

Scout26

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #1 on: March 19, 2009, 11:24:03 PM »
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The U.N. Climate Panel says that greenhouse gases from burning fossil fuels are a prime cause of warming that will cause more heatwaves, droughts, rising sea levels and more powerful storms.

It also causes fungal infections, restless leg syndrome, and the heartbreak of psoriasis...... ;/

Can't they just go back to having panel discussions about Sci-fi TV series....please.
Some days even my lucky rocketship underpants won't help.


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MechAg94

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #2 on: March 19, 2009, 11:31:25 PM »
And what would the UN do with all that money?  Think how many more Battlestar Galactica panel discussions they can have with $700 billion.
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AZRedhawk44

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #3 on: March 20, 2009, 12:04:42 AM »
Considering Obama's $2 Trillion boondoggle can't revive just the American economy... a paltry $750 Billion would do next to nothing for the global economy.

Of course, the tax could simply be increased until an appreciable effect is reached.  Camel's nose?  You'll need a good air freshener if this dromedary passes gas.
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Desertdog

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #4 on: March 20, 2009, 12:22:26 AM »
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Considering Obama's $2 Trillion boondoggle can't revive just the American economy... a paltry $750 Billion would do next to nothing for the global economy.
But what could it do to a few high up official's bank accounts.

wquay

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #5 on: March 20, 2009, 12:40:00 AM »
I support a tariff on oil imports. It would stimulate domestic energy production, as well as encourage investment and conservation.

The US spent over $400 billion on oil imports in 2008. Keeping just a fraction of that money in the US would go a long way.

Teknoid

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #6 on: March 20, 2009, 06:20:58 PM »
"The UNEP report said investments of one percent of global gross domestic product, or about $750 billion, could bankroll a "Global Green New Deal" inspired by the "New Deal" of U.S. President Franklin D. Roosevelt that helped end the depression of the 1930s."

Gee, that would only work if they started a WWIII. The "New Deal" prolonged the depression until war pulled us out of it.

Cap and trade, and now this? Time to buy a horse and enlarge the garden. At least I'll be able to get to work and eat. I'd probably have to invest in a wood stove for the winter, though.

How stupid can some people be?

AZRedhawk44

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #7 on: March 20, 2009, 06:25:26 PM »

Cap and trade, and now this? Time to buy a horse and enlarge the garden. At least I'll be able to get to work and eat. I'd probably have to invest in a wood stove for the winter, though.

How stupid can some people be?

If you do that, then I can get back into the buggy-whip business.  Excellent. 

See?  We're stimulating the economy already.  Buggy whips, wood burning stoves... next thing you know, we'll have a thriving socialist free medical plan using only the finest leeches for bloodletting, and the most elegant horse-hair wigs!
"But whether the Constitution really be one thing, or another, this much is certain - that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist."
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I reject your authoritah!

Headless Thompson Gunner

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Re: $750 billion "green" investment could revive economy: U.N.
« Reply #8 on: March 20, 2009, 08:13:40 PM »
I support a tariff on oil imports. It would stimulate domestic energy production, as well as encourage investment and conservation.

The US spent over $400 billion on oil imports in 2008. Keeping just a fraction of that money in the US would go a long way.
Wouldn't work.  We don't allow ourselves to produce meaningful new energy supplies domestically.  All we nibble around the edges a bit with ineffective energy sources like ethanol and wind and whatnot.

Reducing foreign imports would only scarcen energy and drive prices up.