Scary Stories
Two scary stories in the news this morning. The first is that Russia may ratify Kyoto . Putin's government has blessed it, but it still must be ratified by their parliament. The Kyoto treaty becomes binding when it has been ratified by countries representing 55% of the world's emissions. Without Russia, emissions of ratifiying nations total 44%. Russia accounts for 17% of the world's emissions. You do the math.
As if Europe weren't struggling enough with the financial demands of cradle-to-grave socialism, Industry, which pays the bills, will be taxed (literally and metaphorically) like never before.
The irony, of course, is that Kyoto came into being ostensibly to prevent a global-warming apocalypse. In fact, Kyoto may spark an economic apocalypse to give Ayn Rand posthumous nightmares. And if the world's economy collapses, you can bet your last ruble that the environment won't be improving anytime soon.
What could the Russians be thinking? This can...