Two schools of warmist thought on what will happen in Copenhagen:

Nicholas Stern remains positive . . .

We are seeking at Copenhagen an organisational framework with strong political commitment rather than a formal treaty. A formal treaty can follow in 2010 if the political framework is clear. But without such a framework, settled at the highest level, progress on a treaty or similar agreement will be impossible. Now is the time for heads of government to take charge – only they can forge such an agreement.
Let us not allow mistrust, pessimism and lack of ambition to take us stumbling into profound dangers. Instead let us have real vision and leadership in both developing and developed countries which seize the opportunities offered by Copenhagen, for us, our children and future generations.

. . . and George Monbiot does not:

So is there any hope that world leaders could regain their sense of urgency? If the prospect of a climate crash doesn’t motivate them, can anything? Perhaps there is one straw to cling to. In its new World Energy Outlook, the International Energy Agency (IEA) maintains that, to meet new demand and replace old equipment and exhausted reserves, the world will have to invest $25.6tn in energy supply infrastructure between now and 2030. The industrialised nations would also need to pay a fortune to the Opec countries to maintain their oil and gas supplies: the IEA predicts that the oil producers’ income will rise fivefold in this period, to $30tn. These costs will be much higher if oil supplies peak.
If moving to a low-carbon economy looks implausible, so does maintaining the high-carbon economy. Whichever route is taken, staggering amounts of money need to be spent. As resources become harder to extract and concentrated in fewer countries, it shouldn’t be too difficult to persuade world leaders that the money might as well be spent on exploiting ambient energy, which will neither run out nor allow us to be held to ransom.
That is the best I can do. Sorry.