Copenhagen Accord Not Worth One Honda Accord

It all boils down to a lot of over-paid politicians flying around the world using a lot of expensive jet fuel to meet in costly locations to say "look at me; look at me..." and then agreeing to do it again sometime.

Leaders Strike Climate Deal

By JEFFREY BALL, STEPHEN POWER and ELIZABETH WILLIAMSON

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President Barack Obama in Copenhagen on the final day of the U.N. summit on climate change.

COPENHAGEN -- Leaders of the U.S., China and several other major economies said late Friday they had tentatively reached a new climate accord, though they said the pact wasn't aggressive enough to meaningfully curb greenhouse-gas emissions and merely set up a future round of negotiations to hash out the details.

The announcement followed a hectic day of diplomacy that included an approximately four-hour meeting that featured clashes between U.S. and Chinese officials. But the so-called "Copenhagen Accord" leaves key questions unanswered, and will likely have little immediate impact on companies in the U.S. and elsewhere that had hoped for more certainty about the future direction of regulation to curb greenhouse gas emissions.

The agreement was still subject late Friday to final ratification by nations at the conference.

The Copenhagen agreement contained no specific targets for greenhouse gas emissions by 2050. A proposed 50% cut that was in earlier drafts was removed.

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