Major Reductions in Carbon Emissions Are Not Worth the Money. A Debate

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With awareness of global warming rising, going "green" and reducing one's "carbon footprint" have become pop culture catchphrases. But addressing climate change on a global, governmental level is still a matter of heated debate. With potentially staggering costs involved, are efforts to make major reductions in carbon emissions worth the price? Would the money be better spent elsewhere? Or, does the amount of money involved become less important when considering the possible consequences of climate change?