Scam of the century? Strong words from IPSCO CEO.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: IPSCO INC.
TSE, ASE, NYSE SYMBOL: IPS
MARCH 5, 1998
IPSCO Inc. - Global Warming - 'Scam of the Century'
REGINA, SASKATCHEWAN--In a hard hitting speech delivered today to
the Saskatoon Chamber of Commerce, Roger Phillips, President and
Chief Executive Officer of IPSCO Inc., a Physicist and a Fellow of
the Institute of Physics, stated that people who subscribe to the
popular view of global warming have fallen victim to the scam of
the century.
"Although there are many reasons to doubt that significant global
warming is occurring at all," Phillips says, "assuming that the
fear mongers are right and it is occurring, the result will be
that in the year 2100 average temperatures in Saskatoon will have
increased to the level that Estevan is at today - No Big Deal!"
Phillips went on to point out that the recent commitments Canada
made in Kyoto will cost Canadians substantially in the form of a
reduced standard of living for a problem that may not be real
and, at worst, is probably less severe than predicted.
"The six percent reduction from 1990 levels agreed to in Kyoto
really turns into a need to reduce per capita energy consumption
by 27 percent by 2010 once you have factored in expected
population growth and the fact that 1990 was an unusually low year
for energy consumption because of the recession." Phillips added,
"This means things like less driving, lower industrial activity
with fewer jobs, less use of home appliances, furnaces, and air
conditioners." He explains this conclusion by pointing out
"Cutting back industry will not solve the problem because industry
only generates twenty percent of the emissions. Canadians were
never told the real story before Kyoto and now are victims of the
scam of the century."
Phillips then proposed a different approach to the situation,
"First, sign up all countries to a new pact governing new and
replacement industrial technology which would require such
investments to be based on the best available energy conserving
technology. This makes sense for reasons other than climate
control and should not be offensive to developing countries. In
and of itself it would be almost as effective as Kyoto. Second,
continue scientific study with respect to Global Warming. If in
ten years the science is proved up and fossil fuel consumption is
still rising, then implement further emission controls.
Technology developed in the interim will lessen the cost of
emission reductions." |
