Throughout the negotiations leading to the Kyoto Protocol, which set targets for countries to reduce carbon dioxide emissions by 2010 to below those of 1990 levels, supporters claimed the costs would be minimal. But a new report on Europe shows that Kyoto stands to inflict devastating damage to the economies of European Union (EU) nations.
According to new estimates by the economic and energy consultancy DRI-WEFA:
Furthermore, all European nations will see rising heating fuel, gasoline, diesel and electricity prices. By 2010, prices will have risen by 10 percent to 20 percent.
The U.S. agreed to reduce emissions 7 percent, and the EU as a whole 8 percent.
Germany and Britain thought they could do better and agreed to reductions of more than 10 percent. Climate alarmists in Europe want to reduce emissions 60 percent by 2050.
However, a recent scientific report from the European Science and Environment Forum demonstrates that there isn’t a consensus that man is to blame for much of recent warming, and costs of warming have been modest.
Source: Roger Bate (European Science and Environment Forum), Kyoto May Cost You Your Job, Wall Street Journal Europe, April 22, 2002.
For text http://online.wsj.com/article/0,,SB1019425221944735080.djm,00.html
For more on ESEF http://www.scienceforum.net/esef.htm
For more on Global Warming http://www.ncpa.org/iss/env
FMF Policy Bulletins 30 April 2002
