Global Climate Change Conference - Copenhagen
A Dysfunctional Family Affair
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The Global Climate Change Conference of nations in Copenhagen was reminiscent to the family meetings middle class Americans call from time to time to restore familial order. In your author's version of this fantasy living room fallacy, Europe plays the eldest son with all the good intentions. China plays the reluctant father, who would rather be living life as usual. Finally, and forgive me if this offends, but the US is the mother figure in this particular family. She is stable, keeps a good home, and generally controls things with a simple stern look that hides a silent strength the entire family fears. The rest of the world fits into the remaining grouping of smaller children that really has little say, barely pays attention anyway, and will most likely go on living life the same as usual.
Some of the wind had already been drawn from the sails of hope ahead of the start of the historic conference in Copenhagen. Thus, great accomplishments seemed unlikely heading into the critical meeting. Then, just as the meeting warmed, the Europeans laid down the gauntlet for humanity. Europe, already leaders in alternative energy generation, sure seemed serious while making a big statement to start the conference. The ancient peoples of the EU offered to raise their greenhouse gas emission reduction plans to 30% by 2020, significantly more than the 20% they had already expected to reach. The eldest son really wants to make change for the better it seems. However, in offering to do so, Europe gave that same old qualifier that every nation regularly requires to make a game-changing move for the sake of humanity; it is that selfish idea that always spoils everything.
There really was no difference in the way Europe approached global climate change, versus how the world's national superpowers have faced most every global challenge in history. A plague of distrust, based on human insecurity at the national level, leads every nation to seek the other to move equally or first before acting on its own behalf and for the sake of the world. It is that old game of "I'll show you mine, if you show me yours..." It is the prisoner's dilemma of whether to stay silent and risk imprisonment for the sake of the crime team, or to blame the accomplice, in which case the prisoner can also go free; but this also allows for the chance that both are jailed if the accomplice does the same. Voila – dilemma.
The root of the trouble is a long-lasting one, perhaps dating back to the start of human history. We group; we divide; and eventually we conquer. Basically, we distrust for the sake of survival, but in this case, our selfish individual actions might condemn the whole of the world.
The United States, good mother that she is, sincerely wants to adopt climate changing emissions targets and pursue alternative energy generation for her own sake and for the sake of the world. She is the mother who only wants the best of things for her family. She is also the leader of the family, the one everyone listens to (or else). So as she does her best to instruct, to educate and to help the family to see what is best for it, she also intimidates with her presence alone.
The United States plans to cut emissions of greenhouse gases 17% by 2020 and 80% or more by 2050. Pending the passing of legislation, the great industrialist will set its path toward those goals under the ambitious leadership of its young chief. President Obama told the frustrated audience in Copenhagen that the US has, "...chartered our course. We have made our commitments. We will do what we say." She is determined to lead by example for an end game that serves more than one purpose. Perhaps nearly equally compelling the US toward a clean energy infrastructure, energy independence carries long-term strategic and fiscal benefit for the great State. So she will pursue it nonetheless, and she has.
Within the same weeks of the global climate change conference, the American Environmental Protection Agency (EPA) issued an "Endangerment Finding," declaring that six greenhouse gases, including carbon dioxide and methane, pose a danger to the environment and public health. The ruling allows the US Federal Government to regulate gas emissions under the authority granted under its Clean Air Act.
Still, America needs China to get on board. Even if America reduces emissions along with Europe, development in China and its Asian brother India would still threaten to offset the gains and leave the world course charted toward destructive climate change. China is the home of 1.3 billion people, or nearly 20% of the world's population. India accounts for another 1.1 billion. China contains 14% of the world's known coal reserves, and coal provides 70% of its energy production. The country is coming into its own now, developing a middle class and a fast growing economy (world's third largest) driven by both production for the rest of the globe and by nascent and intensifying domestic demand. The same is occurring in India. Thus, the two quickly developing giants threaten to severely offset the efforts of the developed world should they ignore climate threats.
China has significant concerns tied to the potential disturbance of its energy infrastructure. Its economy is swiftly growing, yet its population is mostly poor. If China pursues swift sea change, the result could be economic catastrophe and civil unrest. Thus, it requires financial assistance to help it alter course. Also, China makes a somewhat relevant argument that it is a new contributor to climate change, while the industrial establishment, namely the US and Europe, have greatly created today's problem. Still, China will go a long way toward tipping the world into the abyss, as its economy and greenhouse gas contribution are now ultra-relevant.
China is the one family member who must participate for the entirety of the family to obey the plan, and for the plan to prove effective. So, the world wants to keep an eye on the sometimes deviant and always secretive communist relic. We need a measuring stick by which to grade the relative efforts and progress of individual nations. For the sake of fairness, we need to know if each family member is living up to his or her own part of the bargain. Otherwise, we end up right back where we started. As Bjorn Lomborg, author of The Skeptical Environmentalist, stated, we will end up with, "...nice speeches and beautiful documents, and then ten years later we will be saying, gee how come Copenhagen did not work either." The American president concurred, when he implored China and the world to refrain from posturing, and to turn toward action.
So let us look then at what action has been undertaken as a result of Copenhagen. The US will be part of a fast-start funding program to help poorer undeveloped nations take steps to ensure a stable climate. America is putting aside funds toward this united effort, which will ramp up funding to $10 billion annually by 2012. The EU is committing $3.6 billion in annual short-term funding from 2010 to 2012 for this same purpose. The US has extended an offer to commit up to $100 billion by 2020 if the world (read China) would only agree to emission mitigation, transparency and fair measuring sticks.
In the end, no formal binding treaty was signed, but the framework for a future agreement was laid on the table. With more time, and likely with the impetus of intensifying climate changes, some sort of arrangement seems in store for this dysfunctional global family of ours. The critical question, though, is whether it will come in time to reverse the effects of destructive greenhouse gases before monumental climate change becomes irreversible.
Editor's Note: Article should interest parties with interest in First Solar (Nasdaq: FSLR), Monsanto (NYSE: MON), Mosaic (NYSE: MOS), Trina Solar (NYSE: TSL), Canadian Solar (Nasdaq: CSIQ), JA Solar (Nasdaq: JASO), GT Solar (Nasdaq: SOLR), Energy Conversion Devices (Nasdaq: ENER), Solarfun Power (Nasdaq: SOLF), Ultra Clean Holdings (Nasdaq: UCTT), Ascent Solar (Nasdaq: ASTI), China Wind Systems (Nasdaq: CWS), General Electric (NYSE: GE), Vestas (Franfurt: VWS.F), Gamesa (OTC: GCTAY.PK), Siemens AG (NYSE: SI), Enercon (OTC: ENDC.PK), Goldwind (Shenzhen: 002202.SZ), Suzlon Energy (NSE: SUZLON.NS), Nordex (Frankfurt: NDX1.F), Acciona (OTC: ACXIF.PK), RE Power Systems (OTC: RPWSF.PK), Gushan Environmental Energy (NYSE: GU), Environmental Power (Nasdaq: EPG), CECO Environmental (Nasdaq: CECE), Perma-Fix Environmental Services (Nasdaq: PESI) and Ecology & Environment (Nasdaq: EEI)
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
Visit the front page of Wall Street Greek to see our current coverage of global affairs, economic reports, Wall Street and global financial markets.(Relative Tickers: Nasdaq: FSLR, NYSE: MON, NYSE: MOS, NYSE: TSL, Nasdaq: CSIQ, Nasdaq: JASO, Nasdaq: SOLR, Nasdaq: ENER, Nasdaq: SOLF, Nasdaq: UCTT, Nasdaq: ASTI, Nasdaq: CWS, NYSE: GE, Franfurt: VWS.F, OTC: GCTAY.PK, NYSE: SI, OTC: ENDC.PK, Shenzhen: 002202.SZ, NSE: SUZLON.NS, Frankfurt: NDX1.F, OTC: ACXIF.PK, OTC: RPWSF.PK, NYSE: GU, Nasdaq: EPG, Nasdaq: CECE, Nasdaq: PESI, Nasdaq: EEI, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ)
Global Climate Change Conference - Copenhagen
The Global Climate Change Conference of nations in Copenhagen was reminiscent to the family meetings middle class Americans call from time to time to restore familial order. In your author's version of this fantasy living room fallacy, Europe plays the eldest son with all the good intentions. China plays the reluctant father, who would rather be living life as usual. Finally, and forgive me if this offends, but the US is the mother figure in this particular family. She is stable, keeps a good home, and generally controls things with a simple stern look that hides a silent strength the entire family fears. The rest of the world fits into the remaining grouping of smaller children that really has little say, barely pays attention anyway, and will most likely go on living life the same as usual.Some of the wind had already been drawn from the sails of hope ahead of the start of the historic conference in Copenhagen. Thus, great accomplishments seemed unlikely heading into the critical meeting. Then, just as the meeting warmed, the Europeans laid down the gauntlet for humanity. Europe, already leaders in alternative energy generation, sure seemed serious while making a big statement to start the conference. The ancient peoples of the EU offered to raise their greenhouse gas emission reduction plans to 30% by 2020, significantly more than the 20% they had already expected to reach. The eldest son really wants to make change for the better it seems. However, in offering to do so, Europe gave that same old qualifier that every nation regularly requires to make a game-changing move for the sake of humanity; it is that selfish idea that always spoils everything.
There really was no difference in the way Europe approached global climate change, versus how the world's national superpowers have faced most every global challenge in history. A plague of distrust, based on human insecurity at the national level, leads every nation to seek the other to move equally or first before acting on its own behalf and for the sake of the world. It is that old game of "I'll show you mine, if you show me yours..." It is the prisoner's dilemma of whether to stay silent and risk imprisonment for the sake of the crime team, or to blame the accomplice, in which case the prisoner can also go free; but this also allows for the chance that both are jailed if the accomplice does the same. Voila – dilemma.
The root of the trouble is a long-lasting one, perhaps dating back to the start of human history. We group; we divide; and eventually we conquer. Basically, we distrust for the sake of survival, but in this case, our selfish individual actions might condemn the whole of the world.
The United States, good mother that she is, sincerely wants to adopt climate changing emissions targets and pursue alternative energy generation for her own sake and for the sake of the world. She is the mother who only wants the best of things for her family. She is also the leader of the family, the one everyone listens to (or else). So as she does her best to instruct, to educate and to help the family to see what is best for it, she also intimidates with her presence alone.
The United States plans to cut emissions of greenhouse gases 17% by 2020 and 80% or more by 2050. Pending the passing of legislation, the great industrialist will set its path toward those goals under the ambitious leadership of its young chief. President Obama told the frustrated audience in Copenhagen that the US has, "...chartered our course. We have made our commitments. We will do what we say." She is determined to lead by example for an end game that serves more than one purpose. Perhaps nearly equally compelling the US toward a clean energy infrastructure, energy independence carries long-term strategic and fiscal benefit for the great State. So she will pursue it nonetheless, and she has.
Within the same weeks of the global climate change conference, the American Environmental Protection Agency (EPA) issued an "Endangerment Finding," declaring that six greenhouse gases, including carbon dioxide and methane, pose a danger to the environment and public health. The ruling allows the US Federal Government to regulate gas emissions under the authority granted under its Clean Air Act.
Still, America needs China to get on board. Even if America reduces emissions along with Europe, development in China and its Asian brother India would still threaten to offset the gains and leave the world course charted toward destructive climate change. China is the home of 1.3 billion people, or nearly 20% of the world's population. India accounts for another 1.1 billion. China contains 14% of the world's known coal reserves, and coal provides 70% of its energy production. The country is coming into its own now, developing a middle class and a fast growing economy (world's third largest) driven by both production for the rest of the globe and by nascent and intensifying domestic demand. The same is occurring in India. Thus, the two quickly developing giants threaten to severely offset the efforts of the developed world should they ignore climate threats.
China has significant concerns tied to the potential disturbance of its energy infrastructure. Its economy is swiftly growing, yet its population is mostly poor. If China pursues swift sea change, the result could be economic catastrophe and civil unrest. Thus, it requires financial assistance to help it alter course. Also, China makes a somewhat relevant argument that it is a new contributor to climate change, while the industrial establishment, namely the US and Europe, have greatly created today's problem. Still, China will go a long way toward tipping the world into the abyss, as its economy and greenhouse gas contribution are now ultra-relevant.
China is the one family member who must participate for the entirety of the family to obey the plan, and for the plan to prove effective. So, the world wants to keep an eye on the sometimes deviant and always secretive communist relic. We need a measuring stick by which to grade the relative efforts and progress of individual nations. For the sake of fairness, we need to know if each family member is living up to his or her own part of the bargain. Otherwise, we end up right back where we started. As Bjorn Lomborg, author of The Skeptical Environmentalist, stated, we will end up with, "...nice speeches and beautiful documents, and then ten years later we will be saying, gee how come Copenhagen did not work either." The American president concurred, when he implored China and the world to refrain from posturing, and to turn toward action.
So let us look then at what action has been undertaken as a result of Copenhagen. The US will be part of a fast-start funding program to help poorer undeveloped nations take steps to ensure a stable climate. America is putting aside funds toward this united effort, which will ramp up funding to $10 billion annually by 2012. The EU is committing $3.6 billion in annual short-term funding from 2010 to 2012 for this same purpose. The US has extended an offer to commit up to $100 billion by 2020 if the world (read China) would only agree to emission mitigation, transparency and fair measuring sticks.
In the end, no formal binding treaty was signed, but the framework for a future agreement was laid on the table. With more time, and likely with the impetus of intensifying climate changes, some sort of arrangement seems in store for this dysfunctional global family of ours. The critical question, though, is whether it will come in time to reverse the effects of destructive greenhouse gases before monumental climate change becomes irreversible.
Editor's Note: Article should interest parties with interest in First Solar (Nasdaq: FSLR), Monsanto (NYSE: MON), Mosaic (NYSE: MOS), Trina Solar (NYSE: TSL), Canadian Solar (Nasdaq: CSIQ), JA Solar (Nasdaq: JASO), GT Solar (Nasdaq: SOLR), Energy Conversion Devices (Nasdaq: ENER), Solarfun Power (Nasdaq: SOLF), Ultra Clean Holdings (Nasdaq: UCTT), Ascent Solar (Nasdaq: ASTI), China Wind Systems (Nasdaq: CWS), General Electric (NYSE: GE), Vestas (Franfurt: VWS.F), Gamesa (OTC: GCTAY.PK), Siemens AG (NYSE: SI), Enercon (OTC: ENDC.PK), Goldwind (Shenzhen: 002202.SZ), Suzlon Energy (NSE: SUZLON.NS), Nordex (Frankfurt: NDX1.F), Acciona (OTC: ACXIF.PK), RE Power Systems (OTC: RPWSF.PK), Gushan Environmental Energy (NYSE: GU), Environmental Power (Nasdaq: EPG), CECO Environmental (Nasdaq: CECE), Perma-Fix Environmental Services (Nasdaq: PESI) and Ecology & Environment (Nasdaq: EEI)
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
posted by The Greek | 3:15 PM
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