Posted by Tina
** We are told that very expensive carbon regulations are the only way to respond to global warming, despite ample evidence that this approach does not pass a basic cost-benefit test. We must ask whether a “climate-industrial complex” is emerging, pressing taxpayers to fork over money to please those who stand to gain. *** This phenomenon will be on display at the World Business Summit on Climate Change in Copenhagen this weekend. The organizers — the Copenhagen Climate Council — hope to push political leaders into more drastic promises when they negotiate the Kyoto Protocol’s replacement in December. *** The opening keynote address is to be delivered by Al Gore, who actually represents all three groups: He is a politician, a campaigner and the chair of a green private-equity firm invested in products that a climate-scared world would buy. *** Naturally, many CEOs are genuinely concerned about global warming. But many of the most vocal stand to profit from carbon regulations. The term used by economists for their behavior is “rent-seeking.” *** The world’s largest wind-turbine manufacturer, Copenhagen Climate Council member Vestas, urges governments to invest heavily in the wind market. It sponsors CNN’s “Climate in Peril” segment, increasing support for policies that would increase Vestas’s earnings. A fellow council member, Mr. Gore’s green investment firm Generation Investment Management, warns of a significant risk to the U.S. economy unless a price is quickly placed on carbon. **