Abstract
It may not be a household word, but by now the Kyoto Protocol has become a well-known political slogan. It is either “fundamentally flawed” (George W. Bush) or it is essential for saving the climate and humanity (Al Gore). There seems to be no in between. The Kyoto Protocol is a treaty to limit (i.e., ration) the use of energy to satisfy the concerns of environmental groups and other believers in global warming catastrophes. This group includes not only certified kooks but also such notables as former Treasury Secretary Paul O'Neill and Sir David King, chief scientific adviser to Her Majesty's government who equates the threat of warming with that of international terrorism. But Kyoto is quite ineffective, that is, it cannot really affect climate or even change the composition of the atmosphere. It is costly. And it is probably also defunct. Where did this treaty come from? Why is it being adopted by some countries but not by others? And what is its likely future?
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