In the last few years there has been a substantial restating of the global warming ?problem.? According to Bruce Stram, these new conclusions have quite different policy implications than those currently driving the global policy debate. In this paper, Stram outlines a plan that could be turned into concrete, practical, and inexpensive steps, which are intended to put us on a path to resolving the global warming problem.

The global warming problem, if it is that, cannot be very usefully addressed with substantial greenhouse gas emissions reduction now. However, other, more strategic, actions to prepare for possible future reductions should be taken now. The initial action suggested here is to develop a formal international program of energy research and development that is ?permanently? funded by a small tax (on carbon) to support energy R&D on a multilateral basis.