Subject: txt grn owg - BREAKING:
World leaders meeting in Singapore have decided to punt on reaching any firm agreement at next month's global warming conference in Copenhagen.
[wasn't me, it's in the source piece]
The decision represents a huge setback to the Obama administration's goal of passing a cap and trade bill this year, which conversely is great news for virtually every company in America that has been worried about the higher cost of doing business that would come from the enactment of such legislation.
As the New York Times reported moments ago:
The agreement on Sunday codifies what negotiators had already accepted as all but inevitable: that representatives of the 192 nations in the talks would not resolve the outstanding issues in time. The gulf between rich and poor countries, and even among the wealthiest nations, was just too wide.
Among the chief barriers to a comprehensive deal in Copenhagen was Congress's inability to enact climate and energy legislation that sets binding targets on greenhouse gases in the United States. Without such a commitment, other nations are loath to make their own pledges.
[That's right; it's the US's fault - never mind that China and India have announced they've no intention of signing up for this suicide... The NYT.]
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