Offline capacity in Gulf of Mexico supports prices
Apparently, British Prime Minister Tony Blair had expressed confidence that he would be able to convince his American friends to moderate their stand on the issue. But, according to a leaked document being cited by the Western media, the US has rejected all proposals to forge a global alliance to deal with greenhouse emissions because they run counter to its views and agenda.
Global warming and climate change have been dominating discussions in the public domain ever since the UN released recent reports on the rising carbon emissions across the world. The US and China are among the biggest emitters, as per the reports. While the rest of the world is trying to build a united front against an issue that cuts across boundaries, the US is loath to be part of any such alliance at the cost of their own economy. It has apparently dismissed proposals, that have been drawn up ahead of next month’s summit, on carbon trading saying that following such schemes will force them to abide by emission caps. It is intriguing how in the face of mounting evidence on environmental crises looming large across the globe, America has managed to remain stubborn about not being party to any collective effort. It has also defied public criticism of its selfish interests that hinder global initiatives. In fact, for the US, dangers posed by climate change are not as severe as it is generally made out to be!
But the failure to make America soften its stand also reflects poorly on the other developed countries. Surely, they need to show more persuasive power. Countries like Japan have come up with ambitious plans to reduce emissions by 2020 while Germany has put forth its ideas of containing the average rise in global temperature. But the need of the hour is clearly a global alliance of nations.
German officials say they are going to block decisions on other issues if America continues to play up. This implies there’s going to be another showdown.
So, should we just expect tall talk and little action in the next G-8 summit as far as climate change issues are concerned?
Offline capacity in Gulf of Mexico supports prices
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