The Kyoto Protocol is dead. There will be no further global treaties that set binding limits on the emissions of greenhouse gases (GHG) after Kyoto runs out in 2012. Under the Kyoto Protocol, industrialized countries are supposed to reduce their emissions of greenhouse gases 5.2 percent below their 1990 emissions levels by 2012. The European Union agreed to reduce its overall GHG emissions by 8 percent during that period. To cut its carbon emissions, the European Union has established a carbon trading scheme in which companies must purchase permits to emit carbon. The number of carbon permits is capped at 8 percent below 1990 emission levels. The European Union and environmentalist activists have been pushing for negotiations to establish more stringent emissions limits for a commitment period after 2012. It's not going to happen.It should be pointed out that this is the same article by the same author that originally appeared at TechCentralStation that we covered a couple of days ago. It is interesting that Reason has chosen to pick it up.
Of course, I'll point out that we have the cleanest air we've had in my lifetime. At least according to the experts at the Environmental Protection Agency.
