Reprinted below is a letter-to-the-editor that I wrote to The Electricity Journal in response to an essay by Michael Shepard, “Turning the Climate Challenge into Business Opportunity” (The Electricity Journal, 1999, vol. 12, issue 10, pages 82-84).
The test of scholarship is how one’s arguments hold up over time. The state of knowledge changes as new evidence accumulates, so it is important to keep past work in the context of the year it was written (1999).
But what do we know now versus then? And how do you think this rebuttal reads 11 years later? (One data point: Robert Mendelsohn of Yale still believes in the conclusions of his work that I reference below as he communicated to me by email.)
Michael Shepard guest editorial, “Turning the Climate Challenge into Business Opportunity,” is premised on such statements as “the climate problem is real” and “the imperative [is] to stabilize the atmosphere’s loading of greenhouse gases.”