BASICs Won't Leave Their Climate Destiny in the Hands of US Senate

This week's Massachusetts midterm election was called by many as a referendum on the Obama administration's key legislative objectives, especially healthcare reform. Energy policy and carbon mitigation, including cap-and-trade or alternative mechanisms, may have also been dealt a crushing blow by Scott Brown's win in MA. One emerging potential risk is that the BASIC countries (Brazil, South Africa, India, China) will be disgruntled by the USA's lack of leadership and scale back their emissions pledges. On the contrary, the BASICs seem inclined to form a stronger climate coalition to address uniform emission reductions metrics and adaptation funding. The BASICs are more and more becoming the masters of their own climate destiny as the USA retreats to infighting.

Relevant News Articles:

• The UN Copenhagen Accord's January 31st deadline for submissions emissions targets "softened" due to poor response rates, and 2010 treaty considered anything but certain by UNFCC chief de Boer.
• Legislated US carbon regulation may be least offensive of evils (EPA regulation, unchecked litigation environment) for resistant congressmen.
• France becomes first major economy to adopt carbon tax of 17 euros per tonne, with certain exceptions.
• Australia parliament attempting to push through 2 year carbon tax to restart global progress on emissions reductions.