Carbonomics tells how to unify climate change and energy security agenda's for the world. The first step is to solve the "carbon cap" problem. China, India and other developing countries have refused to accept caps for 15 years, and with good reason. It's time for a change.

Stiglitz, Nordhaus, Cooper and several other of America's top economists have developed a different approach, which is dramatically more fair. Carbonomics, a new book praised by George Akerlof, a Nobel prize-winning economist, and Bill Hogan, Harvard's chaired Professor of Global Energy Policy, explains this new policy in more detail. Click here: Free Climate & Energy Book to read their praise and download your free PDF of the entire book (except endnotes and index).

The free PDF version is highly recommended for those attending the Climate Summit.

Part 4 of Carbonomics lays out the policy needed for international cooperation. Global carbon pricing allows nations to meet their obligations with cap and trade or a carbon tax. The only requirement is that they collect $P per ton of carbon emitted, where $P is the global carbon price. The cost of doing so is low because each country keeps all the revenue it collects and can use it as is wishes.

This approach is more fair to start with because if all countries collect, say $30 per ton of CO2, there is nothing stopping India and China from becoming as rich as the U.S. and using as much carbon per person as the U.S. But a $30 global carbon price requires a real commitment from all countries and will be just as strong as a cap that causes permit prices of $30 per ton. This is an economic fact explained in Carbonomics.

But Carbonomics goes beyond previous proposals by showing how to make global carbon pricing more fair and how to enforce it.

Finally Carbonomics also shows how globals carbon pricing will lower that price paid by consumer nation to the oil exporting countries. This savings will likely be large enough to pay the cost of adjusting to lower carbon usage for many years to come.