The Energy Report for Thursday, July 9, 2009
By Phil Flynn
09 July 2009 @ 09:51 am EDT
Well if you can't fix the economy you might as well fix the weather. Who said everybody complains about the weather but no one ever does anything about it. Obama is. The Times on Line reports that, "President Obama and other leaders backed historic new targets for tackling global warming last night in an agreement designed to pave the way for a world deal in the autumn. (You know a deal that is not really a deal. One of the non-binding sort.) For the first time, America and the other seven richest economies agreed to the goal of keeping the world's average temperature from rising more than 2C (3.6F). (Next perhaps they should take on hurricanes.) They also agreed to cut greenhouse gas emissions by 80 percent by 2050 as they strove for a worldwide deal at Copenhagen in December. The moves the Times says were designed to put the squeeze on the world's developing nations, where most leaders will join the G8 for a debate chaired by Obama today.