Corbin Hiar

Cancún, Mexico—Another year, another round of U.N. climate talks. This year's discussions in Cancún are likely to end much as last year's haggling in Copenhagen did—without a firm global treaty to stop drastic climate change. But the stalemate has led to an intriguing side development: Large, multinational corporations are starting to play an outsized role in the negotiations. If world leaders can't agree on how best to cut carbon emissions (and, so far, it's not clear they can), then the world's CEOs may start taking the lead.

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With South Africans' dreams of soccer glory dashed by the elimination of their Bafana Bafana from the tournament today, fans may now be hoping that at least the World Cup will deliver on the economic boost its organizers have repeatedly promised them. They are likely to be disappointed again.  "We want, on behalf of our continent, to stage an event that will send ripples of confidence from the Cape to Cairo—an event that will create social and economic opportunities throughout Africa," former South African President Thabo Mbeki said in the run up to the tournament.

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Yesterday, Paul Krugman wrote that "President Obama isn’t completely innocent of blame in the current [Gulf oil] spill." He pointed out that the president took too long to appoint a new director of the Minerals Management Service, which oversees offshore drilling and had a dismal record under President Bush. Krugman also cited the decision by MMS to exempt the Deepwater Horizon drilling operation from a comprehensive environmental review just eleven days before the rig exploded. But Krugman missed a few things in his column.

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Many observers were puzzled last week when President Obama announced his support for expanded offshore oil drilling. Was he trying to win over Republican swing votes for a climate bill? Head off the inevitable anger over summer gas prices? Perhaps. But here's another possibility: The move could have been intended to bolster international support for sanctions on Iran.

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