Not so long ago governments around the world stepped to in rescue capitalism. It’s time for capitalism to repay the favour by turning its mind to saving the planet. Politicians, you see, have just about given up.
The only vaguely encouraging thing to say about next week’s Cancun climate change gathering is that expectations have been set so low the negotiators will struggle not to exceed them. The UN-led search for a global accord to replace the Kyoto protocol has stalled.
Before this month’s midterm elections the prospect of the US Congress passing legislation to put a price on the noxious gases pumped into the atmosphere by the world’s most profligate energy consumer was remote. The Republicans’ gains have rendered it non-existent.
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