Week in Oil & Gas: Punting in Copenhagen and Gulf of Mexico Leases — Abridged
The odds Congress would be able to pass climate-change legislation this year dimmed by the minute last week, as the political wrangling moved to the Senate Finance Committee and the debate focused once again on jobs and the economy. The bill’s molasses-like progress through the Senate has rippled through the international community and has effectively crushed chances of reaching a global climate change agreement in time for the summit scheduled next month in Copenhagen. At least, that was the official word coming from world leaders this weekend. Instead, leaders including President Obama and Denmark Prime Minister Lars Lokke Rasmussen — who also is chairman of the climate summit — agreed to downgrade the mission of the Copenhagen conference. So, next month when the world’s leaders descend…
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