Was Obama's grandiose climate announcement really inspirational? Is it really the deal of the century? I believe the answer is no. I believe the Chinese have pulled a swift one again. And I think Stuart Varney at Fox summed it up perfectly with this statement.
"This is not a lopsided deal. This is a total cave on the part of President Obama to his Chinese counterpart. We are going to accelerate the cutting of our emissions. We've got even bolder targets. China doesn't have to do anything. They can keep on polluting at this current level, even increase their emissions for another 15 years. All they've agreed to do is peak their emissions in the year 2030. We cut; they don't. And then when you come to the money, we're gonna pay for this. Our utility bills are going to go up, and it's gonna cost us jobs. It doesn't cost the Chinese anything. They pay nothing extra for this so-called agreement."
The Chinese are the biggest polluters in the world and they are not going to do anything that will hinder their economic growth. They plan to continue building coal fired power stations because that is crucial to their growth. In fact, for the next 15 years they will be increasing their emissions. The Chinese are the smart ones not Obama. China are the ones who can leave the G20 stating they are committed to Tony Abbott's inspirational vision of growth and jobs. Obama, on the other hand has just simply tightened the noose on growth.
So, to recap, China will continue to develop and grow, to lift more people out of poverty and increase their standard of living as a result of the provision of power. For it is this power that enables factories to be built, to provide jobs and to increase exports and to contribute to overall economic growth.
The US on the other hand under Obama's grandiose vision face higher costs of doing business, increases in people's power bills and therefore a negative impact on their cost of living. They face the likely prospect of more business closures, more people in poverty, stymied job growth with the resultant impact of effectively slamming the brakes on what modest economic growth there is. And for this taxpayers fork out $3billion.
So well done, Mr President you have proved yet again that you are not only the World Bully but you are Enemy Number One of the American People. Let's hope the Republicans can put a stop to this before you do any more damage.
