Chinese leader Xi Jinping and President Obama struck a deal Wednesday to limit greenhouse gases, with China committing for the first time to cap carbon emissions and Obama unveiling a plan for deeper U.S. emissions reductions through 2025.
China, the world’s biggest emitter of greenhouse gases, pledged in the far-reaching agreement to cap its rapidly growing carbon emissions by 2030, or earlier if possible. It also set a daunting goal of increasing the share of non-fossil fuels to 20 percent of the country’s energy mix by 2030.
Obama announced a target to cut U.S. emissions 26 to 28 percent below 2005 levels by 2025, the first time the president has set a goal beyond the existing 17 percent target by 2020.
Obama just put hobbles on our economy in exchange for a promise from China to do the same to theirs — 15 years from now.
If you think that’s bad, Obama has put us on the fast track to even higher energy prices, at a time when wages are stagnant or shrinking.
I can’t wait to see what deal he strikes with Iran, can you?
BREAKING: China will gladly pay us Tuesday for our carbon emissions today.
— Stephen Green (@VodkaPundit) November 12, 2014