Such a Deal

Our crack climate Czar, John Kerry recently met with China’s Vice Premier, Han Zheng who welcomed the U.S. back into that hugely successful (?) Paris climate agreement. In his remarks, the Vice Premier said, “China welcomes the U.S. return to the Paris agreement and expects the U.S. side to uphold the agreement.”. I bet he does! China does not have to reduce emissions until at least 2030 (as they are a poor “developing” nation) and is in the process of expanding their coal-fired capacity by 300% over the prior year. They have enough coal power in development to supply all of Germany. Meanwhile, the carbon emissions of the U.S. in 2019 were the lowest since 1992 and their lowest per capita since 1950? Why? In large part due to the drilling for natural gas and our energy from shale. But, of course, the new Administration is trying to limit natural gas production. You can certainly say one thing for our trade negotiators; they do not appear to be the sharpest knives in the drawer. (Figures from WSJ, 4/20/21, pp A16)