Assessment: China’s emissions exceed those of the United States and the rest of the developed world combined…
Just two weeks before a crucial summit in Rome, Bloomberg reports that the world’s major economies are gridlocked in their efforts to agree concrete steps to tackle climate change.
“He draws up drops of water,
distilling it to rain and mist.
When the clouds pour down;
they drop their rain on all of humanity. Job 36:27-28
Preparatory talks between G-20 officials this week failed to end in an agreement to reduce coal subsidies and curb methane emissions. There wasn’t even a consensus on striving toward net-zero emissions and limiting global warming to 1.5 degrees from pre-industrial levels, according to three people familiar with the matter.
China and India, two of the world’s biggest emitters and largest coal users, have failed to submit updated climate pledges.
One person described the negotiating round as a disaster.
Are they all suddenly realizing at once – amid the glorious FUBAR situation occurring in global energy markets – that their goals are a) infeasible, b) a giant waste of time and money without China’s firm commitmentm and c) will create social unrest and lead to them losing their political power.
The imminent COP26 Climate Summit – heralded with the mighty goal of 2050 net-zero emissions – looks like being a giant nothing-burger (vegan of course). Read More @Zero Hedge HERE