Re: US Steel sues for quotas, Volume 11, Number 10, March 14 - March 20, 2005
On the subject of the Kyoto Protocol, I think it is very much a European style document and we have to remember that in the style of European Union (EU) treaties it is not supposed to be a solution to the problem in itself but a way of establishing a process.
Ok, in this treaty the developing countries are not obliged to accept caps now but that is the price for drawing them into the regulatory framework, for accepting that they should be regulated.
The hope is that at a later stage, maybe when some of the effects of global warming are being felt more strongly, it will be easier to persuade the developing countries to accept regulation, and by taking on obligations now, the EU countries hope to be top dog when it comes to setting the terms for the next round.
If global warming turns out to be real, the US may be forced to join some emissions regulation organization late and regret it, much as some in Britain regret not being in the EU from the beginning and being unable to prevent monstrosities like the Common Agricultural Policy.
21. Mar 2005 at 0:00