The Definitive Answer: YES! (updated 11/11/15)

Patrick Moore: Should We Celebrate CO2?
GWPF Annual Lecture by Patrick Moore “Should we celebrate CO2?”

“Human emissions of carbon dioxide have saved life on Earth from 
inevitable starvation and extinction due to lack of CO2”. To use 
the analogy of the Atomic Clock, if the Earth were 24 hours old 
we were at 38 seconds to midnight when we reversed the trend towards 
the End Times. If that isn’t good news I don’t know what is. You 
don’t get to stave off Armageddon every day."

The ignorance displayed by ‘Climate Change’ activism and activists is staggering to say the least.
All of the illogical hand-wringing and irrational fears promulgated about atmospheric CO2 are laid bare in this important lecture by Patrick Moore, ex-Greenpeace co-founder, PhD in ecology in 1971. In this lecture he lays out the facts about CO2, the lack of correlation with temperature, the precipitous decline since the Cambrian era, its necessity for life on Earth, and how our use of fossil fuels and the release of sequestered CO2 may just have bought more time for life on Earth to continue! The entire lecture is well worth your time to read. He even addresses the Canadian Oil Sands issue, and the benefits of “cleaning up the biggest natural oil spill in history.”

"If we assume human emissions have to date added some 200 billion 
tons of CO2 to the atmosphere, even if we ceased using fossil fuels 
today we have already bought another 5 million years for life on 
earth. But we will not stop using fossil fuels to power our 
civilization so it is likely that we can forestall plant starvation 
for lack of CO2 by at least 65 million years."

Regarding the end of the Carboniferous Era, Patrick says,

"The Devonian Period beginning 400 million years ago marked the 
culmination of the invasion of life onto the land. Plants evolved 
to produce lignin, which in combination with cellulose, created wood 
which in turn for the first time allowed plants to grow tall, in 
competition with each other for sunlight. As vast forests spread 
across the land living biomass increased by orders of magnitude, 
pulling down carbon as CO2 from the atmosphere to make wood. Lignin 
is very difficult to break down and no decomposer species possessed 
the enzymes to digest it. Trees died atop one another until they 
were 100 metres or more in depth. This was the making of the great 
coal beds around the world as this huge store of sequestered carbon 
continued to build for 90 million years. Then, fortunately for the 
future of life, white rot fungi evolved to produce the enzymes that 
can digest lignin and coincident with that the coal-making era came 
to an end.
There was no guarantee that fungi or any other decomposer species 
would develop the complex of enzymes required to digest lignin. If 
they had not, CO2, which had already been drawn down for the first 
time in Earth’s history to levels similar to today's, would have 
continued to decline as trees continued to grow and die. That is 
until CO2 approached the threshold of 150 ppm below which plants 
begin first to starve, then stop growing altogether, and then die. 
Not just woody plants but all plants. This would bring about the 
extinction of most, if not all, terrestrial species, as animals, 
insects, and other invertebrates starved for lack of food. And that 
would be that. The human species would never have existed. This was 
only the first time that there was a distinct possibility that life 
would come close to extinguishing itself, due to a shortage of CO2, 
which is essential for life on Earth."

Read the entire text of his lecture here: http://www.thegwpf.com/28155

Hat tip to WUWT

(Update 11/11/15) White Rot Fungi Slowed Coal Formation
http://www.scientificamerican.com/article/mushroom-evolution-breaks-down-lignin-slows-coal-formation/

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