Why China Shouldn’t Be Trusted on Its Climate Commitment
Effectively, the agreement the Obama administration made with China is that American households and businesses will suffer from higher energy costs now because of carbon regulations in exchange for China maybe doing something in 2030. Importantly, there has been no discussion of India. If China actually did follow through with its commitment to peak carbon emissions in 2030, India likely will have overtaken China as the most populous country.
The developing world’s use of coal, oil and natural gas should be celebrated not condemned. Affordable and reliable energy is an essential input for a better standard of living and economic growth. China’s gross domestic product per capita has increased from a little more than $300 in 1990 to nearly $7,000 today. The increase is impressive, but it’s nowhere near the levels of the GDP per capita of the developed world. The U.S. GDP per capita is more than $53,000.