Sen. Inhofe: ‘A non-binding charade’
by James M. Inhofe
President Obama and President Xi of China have come to an agreement on greenhouse gas emissions. It’s being hailed as a “historic” breakthrough ahead of the 2015 U.N. Climate Change Conference, but I have three words: Talk is cheap.
This reminds me of 1998, when President Clinton signed the Kyoto Protocol knowing full well that it would never be ratified by the Senate.
China is taking a page from the Clinton playbook. There is nothing binding about President Xi’s agreement, and China will face zero consequences if it does not live up to its word.
And we should have no such expectation. This is a non-binding charade because as China’s economy grows, so will its demand for electricity. China is the largest consumer and importer of coal in the world, accounting for 50% of global consumption.
Over the next decade, China is expected to bring a new coal-fired power plant online every 10 days to give its hungry economy the electricity it demands, according to the Energy Information Administration.
Unlike the United States, China does not have other inexpensive energy resources. China has not had a shale revolution, and it has no known natural gas reserves.