February 08, 2007

Economist Paul Volcker says steps to curb global warming would not devastate an economy
Published: February 6, 2007
CAIRO, Egypt: Measures to reduce global warming would not be devastating economically, and the United States has been "particularly delinquent" on the issue, Paul Volcker, the former chairman of the U.S. Federal Reserve, said Tuesday.
Speaking to the American Chamber of Commerce in Egypt, Volcker said the argument that taxes on oil or carbon emissions, for example, would ruin an economy was "fundamentally false."