From Papal Indulgences to Carbon Credits
In a couple of hundred years, historians will be comparing the frenzies over our supposed human contribution to global warming to the tumults at the latter end of the tenth century as the Christian millennium approached. Then, as now, the doomsters identified human sinfulness as the propulsive factor in the planet's rapid downward slide.
Then as now, a buoyant market throve on fear. The Roman Catholic Church was a bank whose capital was secured by the infinite mercy of Christ, Mary and the Saints, and so the Pope could sell indulgences, like checks. The sinners established a line of credit against bad behavior and could go on sinning. Today a world market in "carbon credits" is in formation. Those whose "carbon footprint" is small can sell their surplus carbon credits to others, less virtuous than themselves.
The modern trade is as fantastical as the medieval one. There is still zero empirical evidence that anthropogenic production of CO2 is making any measurable contribution to the world's present warming trend. The greenhouse fearmongers rely entirely on unverified, crudely oversimplified computer models to finger mankind's sinful contribution. Devoid of any sustaining scientific basis, carbon trafficking is powered by guilt, credulity, cynicism and greed, just like the old indulgences, though at least the latter produced beautiful monuments. By the sixteenth century, long after the world had sailed safely through the end of the first millennium, Pope Leo X financed the reconstruction of St. Peter's Basilica by offering a "plenary" indulgence, guaranteed to release a soul from purgatory.