To hear the media tell the tale, the recent United Nations climate talks in Paris were remarkable for achieving a deal to reduce global greenhouse gas emissions. The agreement is supposed to hold world temperature increases to less than 2 degrees Celsius over pre-industrial levels.
Activists were pleased, but when all 196 of the world’s nations agree on something, you can be sure that something is nothing of real substance.
To the extent that the planet needs saving, political promises and unenforceable goals won’t get it done. Markets will, because real change, including in energy production and use, is always driven by economics.
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