The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
This December, diplomats from nearly 200 countries will gather in Copenhagen to negotiate a successor to the 1997 Kyoto Protocol, which for the first time bound wealthy countries to specific cuts in greenhouse gas emissions. Most of these emissions come from burning fossil fuels -- coal, oil, and natural gas -- for energy, from deforestation, and from the agricultural sector. They must be cut deeply in the coming decades if the world is to control the risks of dangerous climate change.
Most of those devoted to slashing the world's greenhouse gas emissions have placed enormous weight on the Copenhagen conference. Speaking earlier this year about the conference, UN Secretary-General Ban Ki-moon was emphatic: "We must harness the necessary political will to seal the deal on an ambitious new climate agreement in December here in Copenhagen. . . . If we get it wrong we face catastrophic damage to people, to the planet."
Hopes are higher