A Divided U.N. Conference Recognizes Climate Deal

From Yahoo news.

"The U.N. climate conference narrowly escaped collapse Saturday as bitterly divided delegates agreed after all-night talks to recognize a political compromise that President Barack Obama brokered with China and other emerging powers."

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"Obama's day of hectic diplomacy produced a document promising $30 billion in emergency climate aid to poor nations in the next three years and a goal of eventually channeling $100 billion a year by 2020 to developing countries.

It includes a method for verifying each nation's reductions of heat-trapping gases — a key demand by Washington, because China has resisted international efforts to monitor its actions."

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"The overall outcome was a significant disappointment to those who had anticipated the deal brokered by Obama would be turned into a legally binding treaty. Instead, it envisions another year of negotiations and leaves myriad details yet to be decided.

"The deal is a triumph of spin over substance. It recognizes the need to keep warming below 2 degrees but does not commit to do so. It kicks back the big decisions on emissions cuts and fudges the issue of climate cash," said Jeremy Hobbs, executive director of Oxfam International."

It was exposed for what it was--a scheme to redistribute wealth globally. If the world were to completely de-industrialize, it would only cool the planet 1 degree, and take a millenia to do it.