Horween: Free Trade Explodes Emerging Markets' Massive Pollution
Editor's Note: This article was originally published on Real Money on March 5. To see the latest Real Money commentary as it's published, sign up for a free trial of Real Money.
NEW YORK (Real Money) -- This week President Obama castigated his own country for not doing enough to control greenhouse gasses while at the same time not saying one word about the real polluters of this world. I am talking about the entire emerging markets world led by China who is exempt from doing anything about carbon emissions or any other kind of pollution.
Environmentalists have the same head in the sand attitude and never protest what the emerging market is doing to foul their own air and water and to increase their greenhouse gas emissions. Instead environmentalists endlessly badmouth the industrialized world which has done a huge amount of pollution control while losing millions of jobs to the emerging markets since NAFTA and the Kyoto Protocol came into existence and the emerging markets joined the World trade Organization.
Does free trade coupled with the Kyoto Protocol actually make global warming worse overall? I think they do. I think that ignoring the massive polluters in the emerging markets created a situation where no matter how hard the industrialized countries try to limit their emissions the overall world situation gets worse and more people in the industrialized countries will stay unemployed.This is why Canada withdrew from the Kyoto Protocol in December 2011. The Canadian government said at the time that they were not going to lose any more jobs because of the ridiculous goals in the Kyoto Protocols and they were not going to pay any fines to the emerging markets for not meeting their goals. I suggest that the EU, U.S. and Canada put a carbon tax on all products manufactured in the emerging markets unless they reduce their greenhouse gas emissions and reduce their other forms of pollution. Now the emerging market countries like China are demanding that we pay to clean up their pollution because they are poor. The emerging market countries are not just gigantic greenhouse gas emitters but they also are destroying rain forests and polluting rivers and of course their air. The industrialized world is heavily in debt now and cannot afford to pay for cleaning up the pollution that the emerging market countries have created over years since they joined the WTO.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV