FED:Use of fossil fuels like sub-prime loans

AAP General News (Australia)
12-08-2010
FED:Use of fossil fuels like sub-prime loans

A Denmark-based scientist has compared the world's use of fossil fuels to the sub-prime
loans crisis in the United States .. which led to the global economic crisis.

Professor KATHERINE RICHARDSON .. from the University of Copenhagen .. has told reporters
in Canberra .. there's a critical supply-and-demand problem with the way the world is
using fossil fuels.

She says as a global community every year we are burning the same amount as it took
nature a million years to build up.

That means .. she says .. that we're loaning resources at sub-prime conditions.

She says Australia could learn how to introduce a price on carbon by observing the
Danish experience.

AAP RTV ms/rl/sb/jen/

KEYWORD: CARBON (CANBERRA)

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