Posted by
Always To The Right on Friday, November 30, 2007 9:26:21 PM
Read more about the Kyoto global warming scam, read it right here.
As climate alarmists around the world head to a tropical paradise on Bali
next week to discuss how developed nations should pay to solve global
warming, an inconvenient truth has emerged: many countries that are
part of the Kyoto Protocol are going to dramatically overshoot their
greenhouse gas (GHG) emissions limits.
While it seems a
metaphysical certitude that America's green media will largely boycott
such revelations so as not to put a damper on the hysterical
proceedings, the fact that taxpayers in countries missing these targets
will end up footing the bill also appears likely to be ignored.
As reported [1] by Bloomberg Friday (emphasis added throughout, h/t Benny Peiser):
Japan, Italy and Spain face fines of as much as $33 billion combined for failing to reduce greenhouse-gas emissions as promised under the Kyoto treaty.
Why will they miss these targets? Hold on to your seats:
Spain, Italy and Japan are likely to miss their Kyoto commitments because they underestimated economic growth and future emissions from factories and utilities.
Yet, because this expansion was better than forecast, businesses and citizens in these countries will be penalized:
Spain
will pass 40 percent of the cost for the extra emissions on to
businesses, Secretary of State for Energy Ignasi Nieto told journalists
in Madrid July 31. The rest will come from taxes.
Do
the math: that means in Spain, 60 percent of the penalties will be paid
by the citizens. Interesting form of capitalism, dontcha think: grow
your economy too much, pay a fine!
But there's more:
In Italy, taxpayers will foot 75 percent of the bill for extra permits.
``Italy's behind, and we need to keep cutting emissions,'' said
Environment Minister Alfonso Pecoraro Scanio on Sept. 13 in Rome.
Japanese taxpayers will pay for two-thirds of that nation's excess, New Carbon Finance estimated, based on the current sharing between state funding and industry.