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Long-Term Costs of Cutting Emissions Grow Hazy
The Wall Street Journal (online registration required): The world’s top officials just signed an agreement to slow the buildup of planet-warming greenhouse-gas emissions. They have yet to grapple with the cost of implementing it.
Economists developing sophisticated models have good and bad news. The economic costs of meeting near-term emissions targets are relatively modest. But long-run targets are far harder and infeasible with technology widely available today.
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