I don't think his point was that we should loosen our restrictions, but re-direct our attention on the biggest abusers. Right now that's China. And it's not even close.
You would need to combine the emissions of the U.S, India and the entirety of the European Union to equal China's annual CO2 emissions. See for yourself: https://en.wikipedia.org/wiki/List_of_countries_by_carbon_di...
Basically, China emits as much CO2 as the next 3 countries. And they do nothing to curb it. Oh, they have regulations on books (Hey look, see, we have laws too!) but there is virtually zero enforcement unless something big is coming to town, like the olympics. And then they only focus on the relevant region, not the whole country. Oh, and they tell the factories to turn off completely rather than adding scrubbers or filtering.
China could reduce its emissions by orders of magnitude if they could get these factory owners and coal plants to put the bare minimum filters/scrubbers in play. But that cost money, and factory owners/government need every penny. Regulations you say? I must have forgot my monthly bribe money. Here you go sir. That's how it plays out, and will continue to play out until there is a massive systemic change to China's culture. The corruption is simply to high for anything else. They rank 100 on corruption, with 1 being the least corrupt. The U.S? Usually between 13 and 17. Source: http://www.transparency.org/cpi2014/results