THERE HAS NEVER been an official estimate of the cost of the Paris Agreement, nor has there been one that gives a meaningful evaluation of its impact. Looking at the numbers, it is obvious why. The Paris Agreement will be the costliest pact ever agreed to, by far. It will cost us $1–$2 trillion per year from 2030 onward, if actually fully implemented. Yet the agreement will do almost nothing for the climate: all of its promises will reduce the temperature rise by the end of the century by an almost imperceptible 0.05°F. And none of the big emitting countries are anywhere close to actually
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