THE ECONOMICS OF THE "KYOTO" GLOBAL WARMING TREATY

"Pincas Jawetz's argument that the United States economy would benefit by following the path of the Kyoto Protocol's few adherents is logically and factually unsound. Consider his premise: 38 countries of the world -- Liechtenstein, Luxembourg, Iceland, the United States, etc. -- agreed in principle to an energy suppression measure, the Kyoto Protocol. The same measure was refused by 160 other countries: China, Mexico, India, Brazil, South Korea, and the like. Even among the mere 38, an insufficient number agreed to ratify the treaty to bring it into effect according to the agreement's own formula.

Only the United Kingdom and Sweden among the pre-May European Union-15 nations are actually in compliance. By remaining among the 160-plus countries with no desire to inflict Kyoto on themselves, by Mr. Jawetz's logic, the United States is going it alone. What of those proud, supposedly economically vibrant few who soldier on "in exasperation" with our refusal to adhere?

Other than 10 percent unemployment and next-to-flat economic growth since they undertook this campaign, stubbornly clinging to Kyoto's prescriptions seems to be working out just fine. Actually, this experience further dispels the notion that energy suppression paves the road to economic health. Every major economic downturn in the past century was preceded by the increase in energy prices that is Kyoto's hallmark. In fact, just wait until the energy rationing really kicks in and the results match pro-Kyoto rhetoric."

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RUSSIA SEEMS TO HAVE SAGGED ON GLOBAL WARMING

Russia's ratification is vital for transforming Kyoto from a draft 1997 agreement into a working international treaty. Moscow had for years hedged on whether it would approve the pact. The treaty requires industrialised signatories to trim output of six "greenhouse" gases by between 2008 2012 compared with their 1990 levels.

Russia's cabinet backed the treaty earlier on Thursday, a key step that is likely to finally enable the measure to enter into force despite its categorical rejection by the United States. The cabinet decided to send the treaty on to the State Duma lower house of parliament for approval, which is all but guaranteed in a chamber where the Kremlin holds a two-thirds majority.

Deputy Prime Minister Alexander Zhukov was quoted saying that the various Russian ministries will adopt the proper legislation required for the treaty to be formally ratified by Russia within three months.

EU reaction

The European Union also welcomed the endorsement of the UN agreement designed to stem global warming. "This is a very welcome event," EU spokesman Reijo Kemppinen said. The EU is "confident" the Russian parliament also will endorse the treaty, he said.

U.S. reaction

But the United States is standing firm in rejecting Kyoto. The State Department had no comment on the decision by the Russian cabinet to submit the document to the Duma for approval but said Washington remained committed in its own way to battling climate change.

"The United States' position on the Kyoto Protocol has not changed," spokesman Richard Boucher said. "We thought at this point it wasn't the right thing for the United States, but it's up to other nations to independently evaluate whether ratification is in their national interest."

The Bush administration strongly opposes the 1997 treaty, arguing that its requirements on developed nations are unfair and unrealistic. Instead, Washington has opted for its own efforts to curtail global warming, which include domestic initiatives to move to alternative energy sources and international programs to boost research and cooperation on combating climate change.

Japanese reaction

Japan's Prime Minister Junichiro Koizumi welcomed the decision by Russia but business leaders here voiced scepticism. "I think it is desirable. I want to welcome it," the Japanese premier told reporters when asked about the Russian cabinet's decision. But corporate Japan was concerned about the treaty's negative impact on the world second biggest economy, particularly Tokyo's commitment to reduce greenhouse-gas emissions by 6 per cent.

"It is difficult to meet the obligation to reduce emissions by six per cent," said Nobuo Yamaguchi, president of the Japan Chamber of Commerce and Industry. "It is feared (that it will) accelerate the hollowing-out of the country's economy and employment by promoting moves by companies to locate their activities overseas," he said.

Yuzo Ichikawa, executive director of the Japan Iron and Steel Federation, said: "It is questionable if the treaty, which commits only one third of the world's countries to obligations, will prove effective while the United States and China stay out of it".

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AUSTRALIA STANDS FIRM

Prime Minister John Howard said Friday his conservative government won't follow Russia's lead and approve ratification of the Kyoto Protocol if it wins a fourth term at the October 9 election. Mr Howard maintained that signing the pact on greenhouse gases will cost Australia, a large producer of energy and commodities, both investment and jobs.

The Prime Minister also restated the agreement is flawed because developing nations such as China aren't subject to the same rules as developed countries. He said Australia is on track to meet its Kyoto emissions goal. "The difficulty through ratifying under present conditions is that countries like China and Brazil and Indonesia would not be subject to the emission targets that we would be subject to, and therefore it would be more attractive for industry to invest in those countries rather than in Australia," Mr Howard told Melbourne radio station 3AW.

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Many people would like to be kind to others so Leftists exploit that with their nonsense about equality. Most people want a clean, green environment so Greenies exploit that by inventing all sorts of far-fetched threats to the environment. But for both, the real motive is to promote themselves as wiser and better than everyone else, truth regardless.

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