How will joining the Kyoto Protocol hurt the United States economy?

Question

The Kyoto Protocol is an agreement between nations written the United Nations to reduce the effects of global warming. Bush backed out of the agreement because of the fear that it would hurt our economy.

Answer 1

The Kyoto Protocol has several sticking points which prevented both the Clinton & Bush administrations from ratifying it.
The single largest point had to deal with the standards set for developed and developing Nations. Kyoto provides little or no restriction for the fastest growing Nations, like India & China. When it becomes time for those Nations to comply Kyoto charges the developed Nations to pay. This harms the U.S. economy because U.S. companies are spending investors money on CO2 reductions, while Foreign companies are growing with no restrictions. This will lure away investors to higher yeilding markets. Later U.S. taxpayers money is spent cleaning up the pollution of developing Nations. If Kyoto required some preventative requirements for developing nations, they would not have signed. For those Nations, Kyoto is an Economic boost.
Also, The U.S. has the second largest area of protected land, over 1/3rd is protected. The U.S. had argued to recieve CO2 reduction credit for protected prairie lands. Kyoto only allows for forest credits. Not receiving the credit effective amplifies the current restrictions and future pay outs under Kyoto.
At Kyoto target levels, the U.S. would account for 3% of Global CO2 emmissions. Without Kyoto the U.S. will account for 5% if no self directed action is taken. For these reasons, the Clinton Administration did not sign Kyoto, and failure to resolve them is why Bush left the treaty talks.
Currently, European Nations who have signed on are faceing penalties after next year as many are not able to meet their requirements. This is after they have purchaced all of the surplus credits from Russia, who was granted Developed Nation status and emission credits even though their economy does not reflect such status. One United Kingdom report cited the need to replace all of London's cars & buses with horse & buggys to meet their requirements. It is commonly believed that this treaty will dissolve if Western Europe is unable to meet it's first round obligations.

Answer 2

I support President Bush 100% for ignoring the Kyoto treaty. Stephen Harpet, the prime minister of Canada has followed Bush because they both know that this treaty is unrealistic. Kyoto is another attempt by fear mongering environmental fanatics to make everyone do what they want.
Progress and technological advance has its price, just like everything else in life. To think that we can progress without no impact on the environment is stupid and naive. If these green morons are so environmentally conscious why don't they stop telling everyone else what to do and lead by example? go to live in caves and stop using electricity.

Answer 3

Bush backed out because the Kyoto treaty wouldn't have accomplished anything.