More than 30,000 diplomats have converged on Paris, France, for what is being called "one of the most important international conferences in history."
"Tackling climate change is a shared mission for mankind," said Chinese President Xi Jinping, the head of the world's largest carbon emitter. "All eyes are now on Paris."
"If we act here, if we act now," President Obama added, "if we place our short-term interests behind the air our young people will breathe… then we won't be too late for them."
"Here in Paris," French President Hollande declared, "we will decide on the very future of the planet."
Perhaps I'm too skeptical for my own good, but that's very similar to what world leaders said in 1997 just before the Kyoto Accords. And those have proven to be little more than lip service.
Even if 100% of the Kyoto requirements are followed by 100% of the 192 countries that signed them, they will deliver less than 0.02° Celsius in cooling by 2050 despite costing hundreds of billions of dollars.
Is that worth it?
I have no idea – I'm not a scientific expert.
But I do know beyond any shadow of a doubt that trillions of dollars are going to get set in motion no matter what happens in La Ville Lumière.
Here's what that means for your money and how you can cash in.
Here's How to Grab Your Share of the Profits
Global warming is a lightning-rod topic that's as divisive as it is controversial. It's easy to take a variation of either argument and still not be wrong.
For example, we've been led to believe that "97% of all climate scientists" believe global warming is man-made. According to the Telegraph, that oft-cited stat comes from a Masters research candidate who surveyed 10,257 scientists, all but two of whom endorsed the man-made warming hypothesis.
Yet, a subsequent review revealed that only 77 of the 10,257 were bona fide climate scientists, which means that they made up only 0.75% of the actual sample. Assuming 97% of those same 77 approved, you're talking about only 74 scientists, or 0.72% of the entire sample queried.
Worse, subsequent studies have peer-reviewed the underlying papers and shown the "consensus" view to be so terribly flawed that several well-known climate scientists have actually come out against it.
Worse still, the 97% consensus is now only 43%, according to a 2015 study by Bart Strengers, Bart Verheggen, and Kees Vringer of the PBL Netherlands Environmental Assessment Agency.
Or consider the widely held belief that we're facing rising global temperatures that are unprecedented thanks to CO2 emissions that rose concurrently beginning in the 1980s and 1990s.
In fact, the 0.5° C rise in temperature from 1975 to 1998, which scientists refer to as the hottest years in history, wasn't any greater than the maximums recorded from 1910 to 1940 – 70 years before global warming was even a concept. There's considerable evidence that the world's been heating and cooling for centuries and climatologists, in fact, call the 450 years from 1350 to 1800 the "Little Ice Age."
People forget that in the 1970s, scientists were completely consumed by global cooling thanks to – you guessed it – man-made pollution and everything from conventional combustion engines to communist population controls. The hype was as pervasive then as it is now, found in every major newspaper, in books, in movies, and on television.
My point is that you can take every argument being made for global warming and spin it the other direction. There are always two sides to the coin so to speak, and neither is "wrong."
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean. In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.