Bush 'prepares emissions U-turn'

President Bush is preparing an astonishing U-turn on global warming, senior Washington sources say. After years of trying to sabotage agreements to tackle climate change he is drawing up plans to control emissions of carbon dioxide and rapidly boost the use of renewable energy sources. The rethink follows increasing pressure on the White House from Republican governors such as Arnold Schwarzenegger, the mayors of more than 300 cities, business leaders and Congress.

Over the past few days rumours swept the capital that the "Toxic Texan" would announce his conversion this week, in an attempt to reduce the impact of a major speech tomorrow by Al Gore on solutions to climate change. The White House denied the timing, but did not deny that a change of policy was on its way. Sources say that the most likely moment is the President's State of the Union address in January.

- That sounds like bringing political pressure to bear. Was that altogether altruistic? No, I don't think so. The insurance industry already got $57 billion dollars wiped out after Hurricane Katrina and risks further billions getting wiped out in future climate-related disasters. Climate change is starting to be bad news for businesses and then, only then, is when things start moving.

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