Climate Change Talks Halted on Diplomatic Standoff

Climate Change Talks Halted on Diplomatic Standoff

A diplomatic standoff over 1 word could set the stage for a bigger showdown during this year’s UN’s Climate Summit. 

$OIL, $USO, $UNG

Negotiators paused Sunday after the 1st week of talks ended on a sour note when the US sided with Russia, Saudi Arabia and Kuwait in blocking endorsement of a landmark study on global warming.

The group of 4 major countries have shredded the value and importance of the  ‘scientific’ report requested 3 years ago in Paris.

The Intergovernmental Panel on Climate Change’s special report on what would happen if average global temperatures rise by 1.5 C (2.7 F), and how to ensure they do not go higher, was regarded as a wake-up call for policy-makers when it was released in October .

As diplomats wrapped up a week of technical talks Saturday, almost all 200 countries present in Katowice, Poland, had wanted to “welcome” the IPCC report, making it the benchmark for future action.

But the US, Russia and the other delegations objected.

Russia, Saudi Arabia and Kuwait also called for the study to be “noted” but not “welcomed.”

“The United States was willing to note the report and express appreciation to the scientists who developed it, but not to welcome it, as that would denote endorsement of the report,” the US State Department said in a statement. “As we have made clear in the IPCC and other bodies, the United States has not endorsed the findings of the report.”

While none of the 4 major Crude Oil exporting countries spelled it out, their objection to the report included its suggestion that fossil-fuel use needs to be phased out by Y 2050.

Crude Oil, Nat Gas and Coal are major sources of CO2 (carbon dioxide), some believe traps heat in the atmosphere.

The 2015 Paris agreement set a target of keeping global warming well below 2 degrees C (3.6 F), ideally 1.5 C by the end of this Century.

Observers at the talks said the 2 GCC countries’ objection to the IPCC report came as no surprises.

Russia’s intentions are unclear, while the US position appeared was driven by President Donald Trump ‘s position on climate science.”

Saturday’s dust up casts doubt on whether countries will be able to reach consensus on important issues, including the need to step up national targets to curb carbon emissions.

President Trump has taken the US out of the Paris Climate Accord. 

Have a terrific weekend 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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