Last month China and Russia, two of the fastest growing economies and greenhouse gas emitters, announced that they would not participate in a global initiative to control climate change air pollutants. India has now joined their economic competitors in rejecting the new climate rules to replace the Kyoto Protocol expiration in 2012. Kyoto policies were adopted by many European countries and some South American countries -- but not by the largest greenhouse gas offenders of China, Russia, the US and India. Under Kyoto, “cap and trade” systems that embed carbon taxes in all products and services were to cut carbon dioxide emissions by 20% by 2020.
Contrary to the Obama administration, China, Russia, and now India, have had practical debates .jpg)
about the economic impacts of new climate control regulations. And, these countries are not willing to risk the negative economic impacts of mandatory reductions in greenhouse gases during global recession. President Obama proposes government receipts of $646 billion from a new national carbon trading (taxing) system to mitigate greenhouse gases. America’s economic competitors have also complained that carbon cap-and-trade taxes could ignite a global trade war where import tariffs are imposed.
about the economic impacts of new climate control regulations. And, these countries are not willing to risk the negative economic impacts of mandatory reductions in greenhouse gases during global recession. President Obama proposes government receipts of $646 billion from a new national carbon trading (taxing) system to mitigate greenhouse gases. America’s economic competitors have also complained that carbon cap-and-trade taxes could ignite a global trade war where import tariffs are imposed.The rejection by China, Russia and India (among others) of new international initiatives to control global warming reduce the likelihood that Obama’s pending “American Clean Energy and Security Act” climate initiative will be adopted. Without controls on all global greenhouse gas emitters, nothing the US does in the way of costly greenhouse gas reductions will impact climates.
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