what about the administrations in all the other countries, in particular the developing ones who would have a stronger incentive to want to be able to pollute (afterall the developed countries got to when they were developing, so why shouldn't they?).
This thinking didn't materialize over night, and certainly didn't start in the US. In fact the US is one of the last to jump on the band wagon. Why is this so popular? Because we are on the cusp of a brand new industry created, literally, out of thin air. Not some small time, two bit ponzi scheme, this will be the granddaddy of them all. Worldwide, companies are licking their lips at the prospect of new contracts and sales of green tech, politicians are licking their lips at the prospect of new kick backs, taxes (= pay raise), more control (believe it or not some people want power over others), environmentalists and scientists are licking their lips at new grants, more restrictions, advisory and inspector positions. Too bad the tax payer, and to a lesser degree the consumer, is on the dinner plate.
Ask this... Why does money have to be injected into this. If you want to impose CO2 restrictions, just impose them, why the carbon credit scheme? AD hit it on the head, wealth redistribution and like lemmings the public is going over the cliff for it. Few will be rewarded, many will pay. I'm all for keeping the planet clean, that makes good sense. But not at the expense of some. Those poor people in Africa won't see a penny. If Europeans want to throw their resources down a hole, they can do it without our help. Take the money factor away, and see how many private planes would be in Copenhagen.
The cost though is in the destruction of those cities, with all the infrastructure, buildings, loss of peoples possessions, etc., which will take time and money to rebuild just to get back to the situation that was achieved prior to being underwater.
You'd have to be one of the die-hard, it's raining polar bear, supporters to believe these cities would flood overnight. I forget what the sea level increase is projected at...4 inches by 2050...it changes all the time. Think of all the eco-friendly materials and techniques that can be used in new construction (Cha Ching $$$$).