Investor's Business Daily -- Nine Possibilities Heading Into 2009

5. Energy Fever, Climate Change Cool Off

The cooling trend that began in 1998 will continue as solar activity remains dormant. Last year was the coolest year in a decade.

As the evidence grows, more scientists will join the list of climate "deniers," as protests arise in Europe and the U.S. over expensive alternate-energy schemes that slow global economic recovery.

But as long as crude remains below $70 a barrel — the make-or-break level for many energy projects and alternative energy — Congress will continue to drag its feet on drilling for more oil and gas in the U.S. Obama might try to introduce a cap-and-trade system passed by Congress. If he can't, he'll let the Environmental Protection Agency limit companies' output of carbon-based emissions.

Meanwhile, congressional Republicans, many of whom are skeptical of extreme claims made by global warming advocates, may cut a deal with Democrats that would raise taxes on all forms of carbon-based energy in exchange for deep cuts in income and payroll taxes.

Caruba - Warning Signs: Predictions for 2009

1. A general belief in “global warming” will continue to decrease when winter weather conditions continue beyond March. More scientists will come forth to denounce it as a hoax.