The landmark UN conference on tackling climate change opens on Monday in Copenhagen, spurring debate on how the outcome will affect the fossil fule industry. Optimism that a binding agreement on greenhouse gas emissions to replace Kyoto will emerge from Copenhagen has ebbed and flowed over the past few months. For a while many energy industry observers were saying that getting agreement in Copenhagen in December was impossible, and that the meeting would just be the start of ongoing negotiations stretching into 2010. The more recent announcement of participation by heads of state, most notably that of Barack Obama, has raised hopes again, however.
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