US CO2 Emissions Plummet Towards 1990 Levels
CO2 emissions in the US have been in decline since 2005. That is without a carbon tax, without a cap and trade system, and without mandatory, Kyoto style limits and a global carbon treaty. In Europe CO2 emissions are not falling — and Germany is even moving back to coal. What made the difference? The revolution in natural gas. Natural gas is a cleaner burning fuel than, for example, coal and the natural gas bonanza in the US is making cleaner energy sources cheaper than their rivals. —Walter Russell Mead, The American Interest, 6 May 2012
The U.S. Energy Information Administration / Monthly Energy Review June 2012 backs up the claim
More Shockingly Good News from Shale Gas: CO2 Emissions Will Likely Fall This Year to 1991 Levels
Dr. Mark J. Perry, professor of economics and finance in the School of Management at the Flint campus of the University of Michigan, notes:
As the chart above shows, it took 16 years for CO2 emissions to rise from 5,000 to 6,000 million metric tons, and then thanks to the shale gas revolution, only five years to go from 6,000 back down to 5,000 million metric tons.
How well is Australia placed to lower emissions with our vast shale deposits? We don’t need a Carbon Tax at all.
It’s Climate Change Chaos right here in our own backyard!