Credit: Shutterstock photoGlobal warming, as both a major science debate and an economic issue, has become a major dividing point in American politics.
Recent global agreements brokered by the U.N. seek steep reductions in world C02 output to slow the presumed warming of the earth's atmosphere, while also seeking alterations in the economy that would move energy sources away from fossil fuels toward renewable natural energy.
[ibd-display-video id=2653345 width=50 float=left autostart=true]But a growing contingent of scientists and economists call into question the climate change dogma, saying that the temperature data show no clear recent warming and noting that the benefits of warming, if it existed, might be greater than the costs. This split will define the political debate in the near term.
Former president Barack Obama and most of the Democratic Party signed on eagerly to the U.N. agenda, which entails major reductions in the size of the U.S. economy.
President Donald Trump, by naming a Cabinet filled with energy executives and global warming skeptics, has made clear his policy is likely to be far more friendly toward conventional fossil fuels than Obama's was.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
