Was too much riding on Copenhagen? Were the expectations unrealistic? And what happens now?
According to two commentators Daniel Yergin, chairman of IHS Cambridge Energy Research Associates and Pulitzer-prize winning author of The Prize: The Epic Quest for Oil, Money and Power, and Harvard Kennedy School Professor Bill Hogan, it's just one step in a process.
In this piece, they say Copenhagen was just part of an ongoing process and that we shouldn't have expected any breakthroughs.
The more important thing to focus on, they say, is that Copenhagen signals a new age of innovation, energy innovation. Yergin believes we will see the extraction of natural gas from shale. We also see the development of smart grids and carbon markets. The problem however will come down to pricing. How much extra will people pay for electricity that comes out of a smart grid? And what sort of price should we put on carbon?
Complex questions and no easy answers. But what Copenhagen did was put energy issues front and center, and that will help policy makers develop some solutions.
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