It will be interesting to see how Obama does in Copenhagen. A big part of his campaign was about regaining respect for America abroad. Internationally, he doesn't have official authority, nor any legislative majorities. He must operate on the strength of his ideas, and the concept of American leadership. He wants to succeed at Copenhagen. Secretary of State Clinton threatened that no deal meant no money. Americans should be concerned that Obama, hungry for a win, gives away the store.
The worrisome thing is that an agreement in Copenhagen may both spur further migration of industrial jobs from the US and Europe to the emerging markets, and that we will subsidize this process, and find no net greenhouse gas emission reduction.
Friday, December 18, 2009
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