The Hockey Schtick
" WSJ.COM 1-5-13: The Kyoto Protocol on climate change used to be a big deal. So big that the future of humanity was said to hinge on its implementation. Did you know it expired on New Year's Day? We're guessing you didn't, but don't worry. It's no big deal.
Adopted in 1997 and in force since 2005, the U.N. compact was intended to lock its signatories into curbing or cutting their greenhouse-gas emissions relative to 1990 levels. It didn't work out as planned. ........In December, the U.N. announced a last-minute "extension" of the protocol until 2020, though this is life-support by press release. New Zealand, Russia and Japan have followed Canada's lead and are now officially out of Kyoto's carbon strictures, while the world's largest emitters in China and the U.S. were never in. Now only Australia and the EU remain.
In its day, the Kyoto Protocol did its share of economic damage by distorting energy markets and encouraging job-killing legislation. Some of that damage will remain. Still, count this as another eco-cure that arrived with a bang and departed, as so many of them do, with a whimper.
No comments:
Post a Comment