In the run-up to Copenhagen, thoughts about how to best reconcile the interests of the developed and the developing countries.

By Michael Spence (Project Syndicate)

There are many problems with fossil fuels. They are expensive and a source of political and supply volatility. As consumption rises globally, the costs associated with them will probably rise sharply. Worst of all, they carry large and unsustainable costs in terms of carbon emissions. Indeed, their contribution to rising levels of CO2 in the atmosphere is beginning to overshadow the other problems.


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