[Guest post by DRJ]
Today’s Copenhagen climate change beneficiaries are poor nations who have renewed hope because the United States promised to mobilize more money:
“U.S. backing for a $100 billion climate fund to help poor nations revived hopes for a deal to combat global warming on Thursday as world leaders met on the eve of a U.N. deadline for breaking deadlock.
“The United States is prepared to work with other countries toward a goal of jointly mobilizing $100 billion a year by 2020 to address the climate change needs of developing countries,” Secretary of State Hillary Clinton told a news conference.
Such funds would be more than all current aid flows to poor nations, a U.N. official said, and in line with demands put forward for African nations. “That’s very encouraging,” U.N. Secretary-General Ban Ki-moon said of the U.S. pledge.”
President Obama is discovering what many of his predecessors did best — buying popularity abroad by promising American taxpayers’ money.