People whose jobs depend on CO2 hysteria wonder what will happen next

Investors want proof of Obama green change | Environment | Reuters

Analysts were wary of Obama's campaign promises, not convinced he will deliver on cap and trade nor plans to invest $150 billion over 10 years in low-carbon energy sources.

"A cap and trade system is by no means a done deal," said Guy Turner at London-based New Carbon Finance, given that would need Senate support.

"I'd like to see the first $15 billion (of low-carbon cash) funded in his first budget," said Mark Diesendorf, environmental and sustainable energy analyst at Australia's University of New South Wales.

The Australian government was elected last year partly on promises to cut greenhouse gases and expand renewable energy. "However, in its first budget in May 2008, it funded almost none of its promises to renewable energy," said Diesendorf.
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Obama wants to cut carbon dioxide emissions to 80 percent below 1990 levels by 2050.

"He's certainly committed to a very aggressive reduction target," said Abyd Karmali, global head of emissions trading at Merrill Lynch.

"The economic downturn suggests that there may be a light start approach, similar to that we had in Europe," said adding that the draft Dingell-Boucher climate bill allowed gentler carbon emissions cuts than previous proposals.

Another strong signal would be Obama or his advisors' participation in an unofficial role at U.N.-led climate talks in Poland next month, said Josh Margolis, co-chief executive of carbon brokers, CantorCO2e.