Baskar,
With the US oil companies making $230 billion per year, they have
plenty of cash to persuade the US congress and people that it is not a
good idea to cut back on oil.Moreover, what is an odd $100 billion
promise when that sort of money is at stake. It is a small price to
pay if the oil price doubles by the time it is due to be paid in 2020.
The only answer is for India to develop solar energy. They have plenty
of sun, and bright engineers. And they are not yet so heavily
committed to fossil fuels. Unlike the US, not every man women and
child there owns a car.
Cheers, Alastair.
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