World must oppose US assaults in Syria and Iraq

I have repeatedly stated in my blogs that a proxy war is being fought in Syria. The objective is not as stated by the US, ‘change in regime in Syria’ but to continuously keep the neighboring Muslim countries in state of war.

The engagement on one hand forces these countries to buy more of ‘Made in USA armaments’ and on the other hand make them ‘war maniacs’ usually termed militants by the western media. Bulk of petrodollars are being spent on purchase of arms rather than on the welfare of people,

Ironically, western media, which once enjoyed the honor of being independent, can at best be termed ‘propagators of policies of hawks’. In the past some of the icons questioned policies of the then US president towards Vietnam, which left him with no option, but to step down, as against Bush and Obama have thrived on wars.

It seems that kind of critics have vanished or have been replaced by the cronies, constantly playing war mantra. The latest addition to the long list is Secretary of Defense; Ashton Carter who recently appeared before the Senate Armed Services Committee to outline a new US military strategy for the Middle East.

The Secretary admitted the failure of the US “train and equip” program for rebels in Syria, but instead of taking the appropriate lessons from that failure and get out of the “regime change” obsession, he announced the opposite.

According to the Secretary the US military would for the first time become directly and overtly involved in combat in Syria and Iraq. Under this program the US would begin supporting capable partners in opportunistic attacks against ISIS or conducting such missions directly, either by strikes from the air or direct action on the ground.

Direct action on the ground means US boots on the ground, even though President Obama had ruled out that possibility when he launched air strikes against Iraq and Syria last year. But promises are made and broken to achieve the vested interests; no one can deny this harsh reality.

The entire world needs to condemn the US decision at attack Syria in the strongest words, the ill-advised US military escalation in the Middle East. Whoever concluded that it was a good idea to send US troops into an area already being bombed by Russian military forces must be relieved of his duty on ‘medical grounds’ for being completely devoid of rationale thinking.

The fact is those who run US foreign policy don’t have the courage to accept their clear defeat in almost every war. They are so obsessed with their regime change plan in Syria that they are willing to risk the lives of US soldiers and initiate another mega war in the region — or even beyond.

These hawks insist that Russian strikes against ISIS and al-Qaeda must be resisted, because these are seen as helping the Assad government remain in power, and the US administration is determined that Assad must go. Why can’t the US just walk out of the Arabian Peninsula, which is no longer a source of cheap oil?

I believe building heat in MENA is just to divert attention of the world from South China Sea, where the US has already started minor encounters with China. I am forced to reiterate my words ‘US is the biggest warmonger’, I deliberately avoided using the term ‘terrorist’ often used by Iran.

Pakistan: Pulling PML-N out of disarray

Lately, I have noticed the sudden hike in traffic at my website, visitors particularly from outside Pakistan exploring various types of threats and possibility of ‘election engineering’. The highest numbers of visits are of course from USA followed by China, Russia, Germany and other European countries.

I have reasons to believe their eagerness because after the announcement of China Pakistan Economic Corridor (CPEC), foreign investors are actively exploring investment potentials in Pakistan. Some of the geopolitical analysts termed NA-122 election crucial because the PML-N defeat could have raised serious repercussions for its government.

The ongoing rift among PML-N ministers shows cracks in the party headed by Mian Nawaz Sharif, creating the history of becoming Prime minister of Pakistan for the third time. Allegations of corruption are also being leveled against three of the largest political parties ruling federal and provincial governments:  PML-N, PPP, and PTI. The worst criticism against PML-N is due to its failure in overcoming energy crisis.

The matter of the fact is that Sardar Ayaz Sadiq has once again emerged victorious. Does this prove the allegations of rigging/election engineering were incorrect? Interestingly it is also being said that Imran Khan suffering from illusion completely ignored the fact that Ayaz has repeatedly won from this constituency of National Assembly. Defeating him was not an easy task as PML-N has to ensure his victory at any cost to prove that it had not stolen the public mandate.

The outcome of recent elections in some of the constituencies of National and Provincial Assemblies show that PPP, PTI and even PML-N face disgruntled voters. While PTI was considered a bankable political party, its failure in KPK province has certainly disappointed many of its supporters.

Since 2013 elections were marred by killing of activists of select political parties, it was feared that the history may also be repeated. Barring some minor incidents the entire process completed peacefully. The only regret is that many of the television channels played partisan role and a fruitless debate is still going on.

Being a third world country, rigging and election engineering can’t be ruled out in Pakistan. Supporters and fund providers to political parties play a key role even in the most developed countries. In Pakistan election process is further marred due to poor literacy and active involvement of feudal lords and business tycoons.

Will Iran Accord bring peace to the region?

The accord reached between the P5+1 group and Iran seems to be unfolding like a jigsaw puzzle. Many people have not understood the underlining motives or their long-term implications. The brutal reality is that the regional power centre will shift from Saudi Arabia to Iran though it is difficult to foresee how the future will unfold and who will be the winners and losers. The bottom line is that those who are able to understand the dynamics in play will be better off and those who try to fly against the wind will soon exhaust their energies. It will be a marathon with no slot for a sprinter.

Those who believe that the accord was desired by the western powers as well as Iran may be right but one has to keep in mind that it is the outcome of imposition of stringent sanctions that has led to reconciliation. The span of these negotiations is spread over ten years, during which the world has changed a lot, friends have turned into foes and rivals have been made partners, involved in proxy wars in many countries. During this period a lot of dust was thrown up which made it difficult for the actual happenings to become visible even for those who were in close proximity.

Over the years, crude oil prices were kept high and touched a peak of more than US$147 a barrel. The largest oil producing countries were apparently benefiting but were hardly able to understand the ultimate motive. The shale oil boom in the U.S. catapulted the number of active rigs to beyond 1,600 but now only around 600 rigs are in operation. Most of the storage facilities in the U.S. are full but the country is still producing around 9 million barrels per day and has surpassed daily production of Saudi Arabia, which is the world’s largest oil producing country.

Is it just a coincidence or a paradigm shift? Two points were evident, during these years: 1) there were hectic diplomatic efforts to tame Iran and convince it to roll back its disputed nuclear program and 2) the number of working rigs in the U.S. broke all previous records.

The timing of final negotiations between the P5+1 group and Iran and the fall of crude oil prices also coincide. The plunging oil prices appear to exert pressure on Russia and Saudi Arabia and also to force Iran to kneel down. In fact, Iran had faced multifarious problems because it was allowed to export only a limited quantity of oil.

Hurdles were also created by blacklisting those banks that channeled payments to Iran and stopping insurance companies from underwriting oil and ships. During this period, China emerged as an important savior for Iran by becoming the biggest buyer of its oil; others joining the bandwagon were India, Japan and South Korea. China can be said to have played a pivotal role in concluding the accord. It is no secret that as a result of all this, China aspires to become a global economic and military force.

This evident in China’s "One Belt, One Road" initiative that aims to link the country with Eurasia and the Middle East. Sanctions-scarred Iran was in desperate need for a new infrastructure and was also keen to expand the flow of people and commerce across its borders. Nearly three decades of economic sanctions had made Iran the most attractive investment destination. Proximity to key energy shipping routes made China the biggest beneficiary of this accord. Since many of the foreign energy companies left Iran due to sanctions, Chinese energy giants seemed best placed to invest in Iranian oil and gas development.

Security cooperation between China and Iran is an important feature of Sino-Iran relationship. Both the countries are keen to stop ISIS from gaining a foothold in the neighborhood. If Iran is not ready to tolerate insurgents on its borders, China also wants to stop radicalism in its Xinjiang province. It has already pledged unprecedented security assistance to Afghanistan and has reportedly brokered peace talks between the Afghan government and the Taliban.

Sino-Iranian cooperation may also be based on anti western, especially anti-U.S. sentiments. Beijing seems to be boosting Iran's role in China-led multilateral institutions that do not include the US, especially the Shanghai Cooperation Organization and the Asian Infrastructure Investment Bank.

One fear is that this cooperation can dent U.S. policy in the Middle East and beyond. An Iran that is overly dependent on China will bolster Beijing's efforts to create alternative political forums that exclude Washington. If the U.S. does not take a prominent role in Afghanistan's peaceful reconstruction and the development of Eurasia, it will cede influence in a pivotal region.

China's ties with Iran are also likely to impact future US-China relations. The best way to balance China-Iran relations would be to keep Sino-American interests in the Middle East constructive and not competitive. The US has to consider sending its own companies to Iran to engage in commercial diplomacy. Taking such steps would help the U.S. bring stability in the region and ensure that China and Iran both see their respective strategic relationships with the U.S. as being more important than the one they have with each other.

While the U.S. may be eager to establish a cordial relationship, the gesture will not be approved by its strongest allay of yesteryears, Saudi Arabia. Often voices are raised in the Kingdom and its peripheral states, to the effect that, “Iran is a bigger enemy as compared to Israel.” This has resulted in a change in the mindset in Saudi Arabia and Israel vis-a-vis. repairing the relationship of peaceful coexistence.
The Saudis seem more concerned about the threats from Iran and the ISIS than Israel. It is beginning to appear as if the Saudis support a decade-old peace offer to the Jewish state. Some analysts say the Arab-Israeli conflict is a minor historical hiccup compared to the ancient feuds between the Arabs and the Persians, spread over more than a thousand years.

There is also a change in the mindset of US citizens who believe that Iran can play a key role in bringing stability in the Persian Gulf, but apprehensions remain. The common perception is that the worst levels of extremism and terrorism in the past two decades were the outcome of funding and influence of Saudi Arabia. Those who considered Iran an enemy have started taking it more like a potential friend.

Iran and Saudi Arabia are engaged in a proxy war in Yemen. Iran does not approve of Saudi Arabia's approach of using pressure to resolve regional problems but many believe that Tehran-Riyadh relations should be turned into ordinary and acceptable levels. Both the countries should engage in constructive dialogue for fighting terrorism and extremism and bringing peace and security to the Middle East.

It is not an easy task because hardliners on both sides are most likely to resist any rapprochement; to the contrary, they fear that the US and the Saudis will become more distant. Those who are witness to the pre-revolution US-Iran relationship, consider Iran a natural ally, even if the coordination happens mainly behind the scenes. The Saudis are not ready to face the new reality as they want to tighten, not loosen, relations with the US.

As a result of this deal, the six major world powers (U.S., UK, France, Russia, China and Germany) want to secure the sanctity of the Strait of Hormuz to preserve a steady and cheap supply of oil from the Gulf. While Iran may have to wait for a longer period to reap benefits, the six major world powers are already benefiting from the lower oil prices.

There are two major opportunities for Pakistan in the deal. Firstly, it will be able to meet its energy demands by either getting gas directly from Iran or by increasing its oil purchases. Secondly, Pakistan will seek the help of Iran to improve its relationship with Afghanistan. This largely depends on whether Iran is now closer to Pakistan or India. That it may be closer to India is construction of the Chabahar Port at the mouth of the Gulf and the road and rail links to Central Asia that pass through Afghanistan are being financed by India.

After the sanctions on Iran are lifted, India will find itself in a better position than Pakistan to enhance and diversify its volume of trade with the Gulf power. This also means that the corresponding interests of both Iran and India in the future of Afghanistan may offer a challenge to Pakistan.

However, the major threat to the Pak-Iran future relationship is sectarianism, which is legacy of the socio-political developments of the 1980s when Pakistan was encouraged to keep aloof of Iran. To reap the benefits of Iran’s energy resources and trade potential, Pakistan must contain sectarian and militancy within its own borders.

This article was originally published in SOUTHASIA magazine http://www.southasia.com.pk/neighbor.html

 

Another oil and gas discovery in Pakistan

One of Pakistan leading oil and gas exploration and production company, Mari Petroleum Company Limited announced has struck another significant crude oil, condensate and natural gas discovery at Kalabagh well located in Karak block of Mianwali district, Punjab.

This joint venture in Karak is operated by Mari Petroleum with a 60% working interest and MOL having a 40% share. The discovery at Kalabagh-1A ST1 is the second for the company in the block in Datta, Samanasuk and Lockhart formations. Earlier, it made a major crude oil discovery in the block at Halini well-I in 2011.

During testing at Kalabagh well, gas and condensate flowed in the Datta formation at a rate of 3.3 million cubic feet per day (mmscfd) and 160 barrels per day respectively.

The well was also successfully tested in the Samanasuk formation where gas and condensate flowed at a rate of 4.68 mmscfd and 180 barrels per day. In the Lockhart formation, crude oil flowed at a rate of 500 barrels per day.

Additionally, the company is drilling third exploratory well Halini Deep-I in the block, which is currently at the depth of 5,669 meters and is amongst the very few wells being drilled down to such deep depth.

 

Russia enters Pakistan in search of oil and gas

Russia is expected to soon return to Pakistan’s petroleum sector after five decades with fresh investment commitments in new exploration and development techniques and construction of cross-country pipelines.

While the two countries are at an advanced stage of talks on a government-to-government contract of a 1,100-kilometre gas pipeline from Karachi to Lahore with an estimated cost of US$2.5 billion, some Russian companies are preparing to enter Pakistan’s exploration and development sector.

Reportedly a leading Russian petroleum company, JGC Rosgeologia (Rosgeo) has recently signed non-binding agreements with two public sector exploration and development companies for investment cooperation. The MoU was signed by KPOGCL’s CEO Raziuddin Razi and Rosgeo’s CEO Roman S. Panov. The two firms would promote the establishment and development of mutually beneficial cooperation in the above areas.

According to the MoU signed with Khyber Pakhtunkhwa Oil and Gas Company Ltd (KPOGCL), Rosgeo from Moscow will extend long-term cooperation in KP’s exploration and production (E&P) sector. The two firms would jointly bid for fresh exploration and concession blocks in upcoming transactions and acquire shareholding from existing companies.

The KPOGCL was created after the 18th Constitutional Amendment to share with federal government ownership of oil and gas rights. In 1961, Pakistan set up its largest E&P firm, the Oil and Gas Development Company Ltd (OGDCL), with the financial and technical support of the then USSR technical experts. The cooperation remained almost non-existent for decades due to diplomatic reasons.

The agreement envisages long-term cooperation between the two companies to perform various E&P activities, including geological and geophysical field works, 2D and 3D seismic data acquisition, drilling and related services, warehousing and jointly acquiring concession blocks in various parts of Pakistan.

Specific cooperation will be in the key priority areas of increasing the economic potential of Pakistan through the identification of new hydrocarbon fields and efficient use of the natural resources by ensuring environmental protection and sustainability.

The joint venture would also carry out geological surveys within Pakistan, using the modern technologies and methods. The Russian company will be responsible for the technical planning and execution, arrangement of rigs and recorders, while KPOGCL will be responsible for security, logistics and transportation, gensets, earth moving equipment, cranes, tractors, camp facilities, local support manning, communication, local clearances, permits, licences, business development, etc.

The cooperation of the two companies will be implemented in phases. A permanent working group comprising the two companies has been constituted to identify, study and evaluate specific projects of mutual interest.

For every specific project of mutual interest, the two companies would establish the appropriate scheme of cooperation and establish a joint company that will undertake the execution of the various projects.

Rosgeo also signed a similar MoU with the OGDCL for E&P cooperation on broader terms within their blocks for mutual benefit and overall reciprocity in accordance with the relevant laws, rules and regulations.

The cooperation under the MoU would include examining the possibility of “farm-in” and “farm-out” opportunities in existing exploration licences and look into opportunities in development and production fields including opportunities related to the application of enhanced oil recovery (EOR) techniques.

The two sides would look into mutually beneficial activities in acquisition, processing and interpretation of 2D and 3D seismic data and formulate strategies for sharing the expertise and training the personnel of both the companies.

Defending Pakistan's territorial integrity

It is heartening to note that this year 6^th September is being celebrated with great fervor. While most of Pakistanis thank All Mighty Allah for protecting Pakistan from external aggression, I was not amazed to read a comment “We had lost war in 1965”. One should not forget snicks have always prevailed, though in minority but they play the role of creating confusion and discontent.

By the grace of Allah I am more than 62 years old, witnessed 1965 and 1971 wars besides uncountable border firing cases. Let me reiterate that extremist Hindus have not accepted partition of subcontinent and are adamant at destroying Pakistan. The repeated assaults on Pakistan prove that these extremists have not been able to achieve their ultimate objective of eliminating Pakistan from the world map.

Having said that, it is also to be taken into account that in Pakistan various militant groups are busy in sabotage in the name of religious fanaticism, self-proclaimed discontent and target killing of religious scholars, academicians and social figures that raise voice against the terrorists and demand weeding out of these highly undesirable elements.

Being a student of geopolitics, who has been closely watching proxy wars being fought around the world, I can say without mincing words that the super powers create issues, assemble rebel groups, and provide those funds, arms and training. They also prepare hawks that spread disinformation and create hatred among people belonging to different religions and sects.

Pakistan has been fighting a proxy war in Afghanistan for more than four decades and has faced the worst fallout. Its social fabrics is torn, millions of militants are hibernating in Pakistan (they wear different caps) and using residents of areas as human shields. These culprits also enjoy support of local political, sectarian and linguistic group as they play the role of ‘militant groups’ of these outfits.

These are not Jihadist but hardcore criminal and blood thirsty people. They kill people for money and only for money. Their sanctuaries are located in Punjab, KP and Baluchistan provinces and keep coming to Sindh. One wonders what the people posted at various check points are doing to check and contain movement of these culprits.

Since 9/11 millions of people have been killed in Iraq, Afghanistan, Libya, Yemen, Syria, Sudan and Pakistan. Most of these countries do not suffer from any serious internal conflicts but those inculcated and groomed by super powers.

The apathy of super powers and support for the aggressor is evident from funding of ISIS to topple Asad in Syria, presence of biggest open air prison in Gaza, Palestine and Kashmir issues remaining unresolved for more than half a century.

Let every Pakistani stand up and help in weeding out the culprits. Keep a close watch at your surrounding and never allow any suspected to find a refuge in your locality. Develop interfaith harmony so that none can mislead you in the name of religion, Islam does not teach killing.

Crude Oil: Maker and spoiler of fortunes

I just can’t resist sharing this Bloomberg story with the readers of my blog. 

Oil is so much more than a fuel. It’s a force even bigger than its $3.4 trillion market. It’s a weapon, a strategic asset, a curse. It’s a maker and spoiler of fortunes, a leading indicator and an echo chamber. All these roles have a part in setting oil prices. The result is a peculiar market that says as much about global economics and politics as it does about supply and demand.

The Situation

After four years when the highest average oil prices in history seemed to defy economic gravity, petroleum fell in mid-2014. It had risen to $107.73 a barrel that June, even as Americans and Europeans drove fewer miles in more efficient cars, curbing consumption of gasoline, the biggest source of oil demand. Meanwhile, supply expanded as the sustained higher prices made techniques such as deep water drilling and fracking pay off. Those fundamentals started to register in the summer, as Chinese imports sagged, Europe teetered on the brink of recession, and the stronger U.S. economy made barrels priced in dollars relatively more expensive. Instead of stanching the glut by pumping less oil, Middle East exporters engaged in a price war to defend their market share. The price had dropped to $42.03 in March, the lowest since 2009, as U.S. storage tanks brimmed with oil. Then came a rebound above $50 a barrel after the conflict in Yemen. The price collapse had forced high-cost drillers in North Dakota and Texas to idle rigs while international giants like BP, Shell and Halliburton cut thousands of workers and billions of dollars in spending. Those developments led OPEC to declare its strategy a success at its June meeting and to maintain current production levels. With several members eager to increase their own production, Iran poised to ramp up exports after reaching a nuclear agreement with six world powers, and shale output proving surprisingly resilient as drillers cut costs and focused on the best terrain, the supply glut showed little sign of abating.

Crude Oil: Maker and spoiler of fortunes

I just can’t resist sharing this Bloomberg story with the readers of my blog. 

Oil is so much more than a fuel. It’s a force even bigger than its $3.4 trillion market. It’s a weapon, a strategic asset, a curse. It’s a maker and spoiler of fortunes, a leading indicator and an echo chamber. All these roles have a part in setting oil prices. The result is a peculiar market that says as much about global economics and politics as it does about supply and demand.

The Situation

After four years when the highest average oil prices in history seemed to defy economic gravity, petroleum fell in mid-2014. It had risen to $107.73 a barrel that June, even as Americans and Europeans drove fewer miles in more efficient cars, curbing consumption of gasoline, the biggest source of oil demand. Meanwhile, supply expanded as the sustained higher prices made techniques such as deep water drilling and fracking pay off. Those fundamentals started to register in the summer, as Chinese imports sagged, Europe teetered on the brink of recession, and the stronger U.S. economy made barrels priced in dollars relatively more expensive. Instead of stanching the glut by pumping less oil, Middle East exporters engaged in a price war to defend their market share. The price had dropped to $42.03 in March, the lowest since 2009, as U.S. storage tanks brimmed with oil. Then came a rebound above $50 a barrel after the conflict in Yemen. The price collapse had forced high-cost drillers in North Dakota and Texas to idle rigs while international giants like BP, Shell and Halliburton cut thousands of workers and billions of dollars in spending. Those developments led OPEC to declare its strategy a success at its June meeting and to maintain current production levels. With several members eager to increase their own production, Iran poised to ramp up exports after reaching a nuclear agreement with six world powers, and shale output proving surprisingly resilient as drillers cut costs and focused on the best terrain, the supply glut showed little sign of abating.

Source: Bloomberg

The Background

Through the mid-20th century, a group of multinational oil giants known as the Seven Sisters (including the companies that became Exxon Mobil, Chevron and BP) dominated the market. Controlling the barrels from the wellhead to the gasoline tank, they traded mainly with each other on confidential terms; there was no open market. Countries with oil fields wrested more control with the formation in 1960 of the Organization of Petroleum Exporting Countries. The cartel’s Arab members used their power for political and economic ends, shocking the global economy with an embargo in 1973. Prices spiked again in 1979 because of the Iranian revolution. In the 1980s, OPEC infighting, the emergence of new suppliers and the development of futures exchanges gave rise to new market-based prices. Today the international benchmark is Brent crude from the North Sea. The U.S. benchmark, West Texas Intermediate crude, started trading at less than the Brent price in 2010 as supplies of shale oil became plentiful. In 2013, the European Union raided offices of Shell, BP and others to investigate possible manipulation of reference prices produced by the publisher Platts.

The Argument

As the world industrializes and consumes more energy, each new barrel of oil costs more because the cheapest and easiest oil has already been pumped. This observation gave rise to a theory called “peak oil,” which holds that world production will eventually max out and decline as oil fields deplete. Skeptics of this notion point to the technological innovations that let U.S. producers extract oil and gas from previously impermeable shale, unlocking vast new resources, albeit at greater expense; the issue isn’t quantity but cost. The other variable is demand; no one knows oil’s future as consumers grow more efficient and switch to alternative fuels such as natural gas and renewable power. Oil supplied 31 percent of the world’s energy in 2012, down from 46 percent in 1973. There may come a day when oil gets cheap because it’s unwanted. That’s the argument often advanced by advocates of divestment. They warn of a financial crisis caused by a bursting “carbon bubble” of inflated energy-company valuations after fossil-fuel prices rise to account for the costs of contributing to global warming.

 

Source: Bloomberg

The Background

Through the mid-20th century, a group of multinational oil giants known as the Seven Sisters (including the companies that became Exxon Mobil, Chevron and BP) dominated the market. Controlling the barrels from the wellhead to the gasoline tank, they traded mainly with each other on confidential terms; there was no open market. Countries with oil fields wrested more control with the formation in 1960 of the Organization of Petroleum Exporting Countries. The cartel’s Arab members used their power for political and economic ends, shocking the global economy with an embargo in 1973. Prices spiked again in 1979 because of the Iranian revolution. In the 1980s, OPEC infighting, the emergence of new suppliers and the development of futures exchanges gave rise to new market-based prices. Today the international benchmark is Brent crude from the North Sea. The U.S. benchmark, West Texas Intermediate crude, started trading at less than the Brent price in 2010 as supplies of shale oil became plentiful. In 2013, the European Union raided offices of Shell, BP and others to investigate possible manipulation of reference prices produced by the publisher Platts.

The Argument

As the world industrializes and consumes more energy, each new barrel of oil costs more because the cheapest and easiest oil has already been pumped. This observation gave rise to a theory called “peak oil,” which holds that world production will eventually max out and decline as oil fields deplete. Skeptics of this notion point to the technological innovations that let U.S. producers extract oil and gas from previously impermeable shale, unlocking vast new resources, albeit at greater expense; the issue isn’t quantity but cost. The other variable is demand; no one knows oil’s future as consumers grow more efficient and switch to alternative fuels such as natural gas and renewable power. Oil supplied 31 percent of the world’s energy in 2012, down from 46 percent in 1973. There may come a day when oil gets cheap because it’s unwanted. That’s the argument often advanced by advocates of divestment. They warn of a financial crisis caused by a bursting “carbon bubble” of inflated energy-company valuations after fossil-fuel prices rise to account for the costs of contributing to global warming.