[All] Fw:

[Theo Negoita]

>From Peter Kofler: please see below.
 
Theo


-----

Still think that markets are uncannily clever in assessing risk with respect to the climate change, environmental and social justice files? Well guess again. As Grist writer David Roberts points out re. US (and, let's face it, Canadian) markets:

Markets are assuming that fossil fuel companies will burn the fossil fuels that the world's governments have, at least implicitly, said they cannot burn. That's the "profound contradiction." So what are markets thinking?
 
....they just don't think countries are serious about climate change. They think it's going to be business as usual.
 
...They don't assume there will be no climate policy. They include state RPSs (Renewable Portfolio Standards) and even a carbon price starting in 2020. But as the results show, that level of policy is woefully inadequate.

...And yet we do nothing to prepare for the future that inaction is going to bring us! It's a widespread and increasingly glaring case of cognitive dissonance in the institutions and practices at the center of the modern global economy. One way or the other, it's going to resolve itself, and I fear the results will not be pretty.
 http://www.grist.org/climate-policy/2011-12-20-markets-and-climate-change-a-case-of-cognitive-dissonance

Perhaps these "markets" would be better described as schizoid delusional sociopaths.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://gren.ca/pipermail/all_gren.ca/attachments/20111222/a927dd3e/attachment.html>