Government monopsony distorts climate science, says SPPI

Full story (here).

The Science and Public Policy Institute announces the publication of Climate Money, a study by Joanne Nova revealing that the federal Government has a near-monopsony on climate science funding. This distorts the science towards self-serving alarmism. Key findings:

Ø The US Government has spent more than $79 billion of taxpayers’ money since 1989 on policies related to climate change, including science and technology research, administration, propaganda campaigns, foreign aid, and tax breaks. Most of this spending was unnecessary.

Ø Despite the billions wasted, audits of the science are left to unpaid volunteers. A dedicated but largely uncoordinated grassroots movement of scientists has sprung up around the globe to test the integrity of “global warming” theory and to compete with a lavishly-funded, highly-organized climate monopsony. Major errors have been exposed again and again.

Ø Carbon trading worldwide reached $126 billion in 2008. Banks, which profit most, are calling for more. Experts are predicting the carbon market will reach $2 - $10 trillion in the near future. Hot air will soon be the largest single commodity traded on global exchanges.

Ø Meanwhile, in a distracting sideshow, Exxon-Mobil Corp is repeatedly attacked for paying just $23 million to skeptics—less than a thousandth of what the US government spends on alarmists, and less than one five-thousandth of the value of carbon trading in 2008 alone.