I was thinking about Captain Ed's post about the new policy toward nuclear policy in the UK. The intention is to reduce emission of greenhouse gases from power plants. Yet that seems quite unlikely on a global scale. The Financial Times reports recently (h/t: PSD blog) that Africa's consumption of oil is such that the price increases in oil since 2004 have cost these countries roughly 3% of their GDP. When the British stopping using oil (or coal, or gas, or ...) to use nuclear, do we think those resources just stay in the ground, and their gases not escape, or do they go instead to Africa, China and India?

Labels: economics, Energy