Bush Administration derails Germany’s climate-change initiative at G-8 summit

Thu, 2007-06-07 11:06Bill Miller
Bill Miller's picture

Bush Administration derails Germany’s climate-change initiative at G-8 summit

President Bush locked horns with one of his strongest European allies, German Chancellor Angela Merkel, by blocking her bid for concrete long-term targets for reducing greenhouse gas emissions.

At the Group of 8 annual meeting in Germany, Merkel is advocating a plan to cut emissions in half by 2050 and to limit the rise in global temperature to two degrees Celsius. But Bush’s chief environmental adviser, James L. Connaughton, said the U.S. would not accept Merkel’s terms.

Merkel has staked her reputation on making real and significant progress on global warming during this year’s meeting. Bush said he intended to convene major polluting nations, including China and India, in meetings to set long-term goals by the end of 2008.

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Companies like Shell Oil really need to give their eyes a rub and see that a world with serious constraints on greenhouse gas emissions is not a possible future, but an eventual reality.

Right now, oil companies are investing billions in long term plays in very carbon intensive fuels, like Canada's oil sands, while at the same time there are more and more signs that strict regulations on such operations are on the near horizon.

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