Despite what the mainstream media has put out, the COP16 at Cancun only resulted to minor victories for climate change proponents: a $100B pledge to help countries "most vulnerable" to climate disruptions, technology transfer, and agreement on tropical rainforests.
The real climate treaty that would lower carbon emissions through an extension of the Kyoto Protocol, well, could not be done.
Try again in South Africa next year or wherever it will be in 2012. Maybe by that time, a deal would be unnecessary. Think of your ending: boom or gloom.