As predicted, Copenhagen is boiling down to money. Who pays, how much, and to whom. Presently, a week into the conference, there’s a lot of jockeying going on, and a lot of posturing. We’ll learn how — and if –it all shakes out next week. Despite the rancor and outrage that almost inevitably accompany any high-stakes poker game, it’s beginning to look as if the delegates may strike a deal before everyone storms home.
This report from Copenhagen in the New York Times analyzes delegates’ efforts to circulate unofficial treaty drafts. They represent 3 types of countries: the developed rich — the US and Europe, emerging powerhouses — China and India, and the poor majority. Satisfying all 3 types will be very difficult.
Wonder of wonders, Paul Krugman of the New York Times is optimistic about Copenhagen. What’s more, he calls cutting greenhouse gases (GHGs) both affordable and essential. Reducing GHGs may even help the economy, so there’s no reason to wait. Cap and trade systems have worked before; they can again.