Ever since the discussions on how to address "manmade global warming" started to gain traction in the 1990s trillions of dollars have been spent on infrastructure, subsidies, R&D, regulations, trading schemes and even political organizations with the explicit intent of reducing greenhouse gas emissions. Alas, the world has changed considerably since the 1990s. Rather than diminishing, carbon emissions have actually increased by a great deal. Developing countries as a whole are now the #1 emitter. And many OECD (mostly developed) countries are trying to manage very difficult fiscal positions. In fact, the only thing that seems to have remained constant is the strategy on how to reduce emissions globally.