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It doesn’t fully stop it — we still end up with ocean acidification and an altered pole-to-equator temperature gradient, with significant impacts on rainfall patterns.
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We can’t actually do that though, let alone keep it functional for the hundreds of thousands of years the earth will remain warmed by today’s CO2 emissions
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This is a satellite with a surface area far larger than anything else people have ever done, in a location where you need to use energy to stay there. It’s not going to be some simple launch-and-forget thing.
And it the need won’t be done in 200 years. CO2 concentrations will remain elevated a lot longer than that.
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Many small ones implies a huge and ongoing launch schedule.
And no, if we do this, we’re not going to stop burning fossil fuels, or remove significant amounts of carbon — schemes like this mostly serve as propaganda for the fossil fuels industry to create continued permission to extract and burn.