How serious a setback would it be if no agreement on a climate treaty is reached in Copenhagen, where 192 countries are meeting starting Dec. 7?

SHOOT: Answer below the fold.

clipped from www.newsweek.com How serious a setback would it be if no agreement on a climate treaty is reached in Copenhagen, where 192 countries are meeting starting Dec. 7? It's not a setback at all if it allows a careful reassessment of what is needed. The cap-and-trade scheme [that the Copenhagen negotiations were working toward] is just not going to be effective at controlling greenhouse emissions. Political leaders have to realize that the fundamental problem is that fossil fuels are the cheapest form of energy, so they will continue to be burned unless we put a gradually increasing price on carbon emissions [through a carbon tax]. That's a much better approach than national goals for emissions reductions, which will probably not be met.