“Obama is now facing countless people who claim that subsidies for renewable energy and CO2 taxes are great ways to tackle global warming and forge a new green economy. Unfortunately, this is almost entirely incorrect,” argues Danish statistician Bjorn Lomborg, head of the Copenhagen Consensus Center. “Taxes and subsidies are always expensive, and will likely impede growth. Moreover, if we really want to tackle global warming, we shouldn’t spend vast sums of money buying inefficient green technology—we should invest directly in R&D to make future green technology competitive.”