Without Paris: U.S. CO2 emissions keep fallingEDITORIAL
July 16. 2018 9:48PM
Markets continue to clean up the environment better and faster than government programs.
The latest evidence comes from Mark Perry, a scholar at the American Enterprise Institute. On his Carpe Diem blog, Perry breaks down a report on 2017 carbon dioxide emissions published by BP.
Global carbon emissions grew by 1.6 percent last year, but U.S. emissions fell by 0.5 percent. That 42 million ton decrease was the largest in the world. Higher emissions from China and India accounted for more than half of the global increase.
The latest statistics highlight just how useless the Paris Climate Agreement has been. There is no mechanism to enforce the emissions targets adopted by signatory nations.
Perry attributes the drop in carbon emissions to “the underground oceans of America’s natural gas that are now accessible because of the revolutionary, advanced drilling and extraction technologies of hydraulic fracturing and horizontal directional drilling.”
“Fracking” has displaced coal for much of the nation’s electricity generation. It is still a fossil fuel, but far less carbon intensive.
We welcome market-based efforts to reduce carbon emissions and shift the American economy away from fossil fuels. These tend to be faster, cheaper, and cleaner solutions than top-down government bureaucracies.