The Icelandic President said, “The time for lengthy debates and dialogue is over. Now it is action that must bring us together, and that is the mission of Masdar, the World Future Energy Summit and Abu Dhabi.” He went on to say, “With the momentum that we have gathered at this Summit, we will go forward from this place inspired and determined to succeed. Since the first Summit, the progress has been remarkable.”
His Excellency emphasised that when carbon tax comes into effect, countries with renewable energy sources will have a strategic advantage. Indeed he continued, a green energy era could become a renaissance for the developing world due to the abundance of solar and geothermal sources.
This makes me wonder whether carbon taxing could in actuality have one positive aspect. Will it provide an incentive for the fossil fuel guzzling nations of the world to move into renewable energies?