Eli the Prophet

Not so long ago, James Inhofe, Senator from the Paleozoic was heard to say about cap and trade

"Without participation from China and India, anything we do here at home would impose burdensome costs on consumers in the form of higher electricity, gas and food prices, all for no climate gain," said Oklahoma Senator James Inhofe, the top Republican on the panel drafting the Senate's version of the bill.

"Unless supporters of cap-and-trade legislation can develop a plan to convince China and India to make meaningful emissions reductions on par with the United States, no such bill will pass the U.S. Senate," he said.

Eli, of course, has been pointing out that India will be the first and hardest hit by climate change when the Himalayan glaciers disappear, the Ganges follows in the summer and the wells go dry. The Bunny pointed out that this means that India must lead. Indeed the key to solving the problem is that one of the world's great societies perceive climate change as the existential threat that it is, and nature has nominated India (China will not be far behind.)

A shoe has dropped

India has approved in principle new trading plans centered on energy efficiency as part of efforts to shift to a greener economy to fight climate change, opening up a potential market worth more than $15 billion by 2015. Energy efficiency is a key focus in India's national climate change policy, unveiled last year and which lays out a roadmap to a green economy but doesn't fix a target for carbon emissions. Officials said Prime Minister Manmohan Singh on Monday approved in principle the national energy efficiency plan, which puts in place new financial architecture chiefly centering around trading of efficiency certificates and the carbon market.

Remember young coneys, you read it on Rabett Run before it happened.