Hit & Run

Ronald Bailey Challenges John Kerry's Claim that Climate Change Is a Great Investment Opportunity


John Kerry
State Dept.

Lima, Peru – Secretary of State John Kerry jetted down today for the 20th Conference of the Parties (COP-20) of the United Nations Framework Convention on Climate Change (UNFCCC). In his climate change pep talk, Kerry warned that unmitigated man-made global warming will lead to "tragedy." But looking on the bright side, the Secretary claimed that "climate change presents one of the greatest economic opportunities of all time on earth." Kerry added that the trillion dollar infotech boom of 1990s will pale in comparison with the six trillion dollar cleantech boom that an ambitious climate agreement in Paris would spark. If climate change is such a great investment opportunity, Reason Science Correspondent Ronald Bailey wonders why a vast complicated global treaty is necessary to force people to participate?