Andy Revkin blogs that Nobel laureate Dr. Steven Chu says that climate change is not like dealing with the ozone hole.
Avoiding a lot of warming and climate change while heading toward 9 billion people seeking a decent life will require an utter transformation of the multi-trillion-dollar energy system, Dr. Chu said. An audience member wondered whether spiking gas prices would propel the change. Dr. Chu said higher energy prices would not be enough on their own, adding that the necessary energy transformation will also require decades of sustained research, development, and deployment of new technologies.
Apparently Dr. Chu didn't get the memo that explained how a price on carbon dioxide will magically transform the global energy economy.