Just wanted to highlight the progress at Bali. Most reports seem to be taking the "cautiously optimistic" approach.
The U.S. is joining almost 200 nations in a pact that lays the initial groundwork for a new global treaty to combat climate change. But the agreement offers few specifics and doesn't require the countries to make binding emissions cuts...Also, China and India are apparently making noises about joining the party:
...Still, the four-page document produced during the talks included few details on how the international community will fight climate change, and is merely a first step in the process of creating a new treaty. Most language regarding specific targets for emission reductions was relegated to a footnote, due to U.S. objections....
...The agreement that was reached called on industrialized nations, including the U.S., to take "actions or commitments" to reduce emissions. But the term "action" allowed the U.S. to avoid the question of whether it will agree to binding emissions cuts as part of a new climate deal. Still, the pact created a framework that would leave the door open to the idea of making binding cuts down the road, which environmentalists hailed as progress.
Some say the most noteworthy advance from the meetings was a vow by developing nations, including China and India, to take "actions" to mitigate climate change "in a reportable and verifiable manner" for the first time.