Oil markets are increasingly skeptical…
Expectations of a lasting low…
Barrack Obama has barely had time to celebrate his recent victory in the presidential elections before half the world began clamouring for his attention and support for the future. The latest call is from Christiana Figueres, the executive secretary of the UN climate change secretariat (UNFCCC), who has urged the re-elected President to ensure the US plays a prominent role in the international climate change talks later this month.
Negotiators had feared that the US presidential elections and the impending changes to the Chinese government would delay any progress that could be made at the international climate change discussions in Doha. Obama has won the election, so negotiating continuity should remain; now they need only wait for the situation in China to unfold.
The summit at Doha will be vital for tackling a number of significant challenges, such as extending the Kyoto Protocol before it runs out at the end of the year. An agreement must also be made on how wealthy nations will manage and deliver the $100 billion a year Green Climate Fund they have promised to help poor countries tackle climate change.
Figueres stated that, “the US has the opportunity to contribute to the very important outcomes that need to come out of Doha and show the leadership that comes with the type of economy and size of economy that the United States is.”
By. Charles Kennedy of Oilprice.com
Charles is a writer for Oilprice.com