Global Warming and Nepotism

Here's our position on saving the world from climate change:

The United States yesterday announced it would rely on the private sector to tackle global warming by devising more fuel-efficient technologies...


Speaking before the opening session in Sydney, Samuel Bodman, the US energy secretary, said it was better for industry to devise more efficient technologies to reduce greenhouse gas emissions rather than impose binding targets that hamper economic development.

"I believe that the people who run the private sector, who run these companies, they do have children, they do have grandchildren, they do live and breathe in the world," Mr Bodman declared.

If you believe that, I've got a bridge over the East River to sell you. No major corporation is going to develop these technologies just because the chief exec. is worried about his kids' and grandkids' health. They would far rather give the kids and grandkids oodles and oodles of profits so they can buy their health.

In fact, this is an outrageous statement, coming from a group that purports to believe in the market system for everything. Now, the market system is supposed to respond to the needs of the CEO's kids and not to the suppliers of capital? That sounds more like nepotism than capitalism.