Wall Street Pit

Gore Effect Strikes Cancun Climate Conference

As if ClimateGate wasn’t bad enough, the climate politicos in Cancun are amidst record cold temperatures. The Gore Effect, of course, is the inconvenient coincidence that when Al Gore attends a conference to give a climate speech, cold spells and freak snow storms attend. He is not even there this time.

Global temperatures seem to have flatlined over the past decade, despite increases in Co2. The Cancun conference has little hope of changing the political climate, which is decidedly chilling against the concept of hampering economic growth to limit Co2 emissions. Instead it seems to be devolving into demands by the third-world for “climate justice” – meaning transfer payments from the developed world. See picture below.

While the climate parade marches into irrelevance, we do see progress on solving real problems, particularly rotating the fleet from oil to electricity. The electric car momentum continues, with Tesla Motor’s (TSLA) stock remaining buoyant and expectations for the Chevy Volt still high.