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Today, there are bigger obstacles to its implementation. First, there are the tax's tricky practicalities: Which financial transactions and institutions do you target? And who pays, administers and regulates it? But possibly more importantly, every major financial center would need to be on board for the levy to be effective. Investment banks wouldn't likely leave Britain for cheaper foreign currency-trading in Macedonia, but they might well if that opportunity was in Manhattan. Advanced economies imposing the tax unilaterally "would see their financial markets decimated," Howard Wheeldon, senior strategist at BGC Partners in London, wrote in a note...
...particular importance for developing Asian countries, especially India, where a mix of development means that biomass-burning and diesel combustion remains prominent. (In developed countries like the U.S., there's much less burning of biomass and any diesel combustion tends to be much cleaner, as the clearing skies over major U.S. cities demonstrate.) Though India is responsible for less than 3% of global greenhouse-gas emissions, according to Ramanathan it is responsible for about 6% of global black-carbon emissions, give or take a significant margin of error. India and other developing countries rightly argue that rich nations are responsible...
...that black carbon wasn't even listed as a warming agent in the most recent report from the Intergovernmental Panel on Climate Change - but it cannot be ignored. Black carbon is already having an impact on the ice atop the Himalayas, the massive glaciers that feed the major rivers of Asia when they melt each spring. Thanks to global warming, these glaciers are receding, threatening the long-term water supplies for the region. Ramanathan, Wilcox and an Indian glaciologist Syed Iqbal Hasnain are working to figure out the impact of black carbon on glacial loss. Beyond warming the atmosphere, black...
...They had been told - incorrectly, as it turned out - that they would be able see the impact through large amateur telescopes. Reporters were frustrated because, despite the drama, no actual information was available right away. It took a month of what Colaprete calls 28-hour days to extract the major news that there is, in fact, water on the moon...
...would have been a major disappointment and put a lot more pressure on us if we didn’t win last week,” Clark said. “It can be good to go through some adversity and fight from behind...