huge immediate costs and few if any benefits.

Well, this is certainly not accurate. China right now is choking on some of the most polluted air in the world. Their enlightened self-interest is prompting them to find ways to cut back their carbon emissions. They are trying out new and cutting edge technologies and urban planning methods that will both reduce greenhouse gas as well as reduce the pollutants in their air. A side benefit will be that they will have a competitive edge when they take these new technologies and methods to market. The US, because of its unwillingness to be a world leader in this respect, will be playing catch-up in the new sustainable technologies market for a long time. The benefits of being at the cutting edge of these technologies is great. The negative consequences of intransigence on this issue are enormous.