It is amazing what a difference a year makes. Or in the case of oil, a few months. And in this case it may be that the decline in the status of oil — from something akin to the scarce lifeblood of industry, to just another commodity — may actually help climate change negotiators now meeting in Lima, Peru. Representatives of 195 countries have gathered in the South American capital in what has been described as the most optimistic United Nations climate gathering yet. A recent pact between the world’s two biggest carbon emitters, China and the United States, is one reason for renewed buoyancy at this round of talks. At a meeting last month between China’s President Xi Jinping and U.S. President Barack Obama, the countries for the first time agreed to firm greenhouse gas reductions.

Click Here To Read More