SO HERE’S YOUR PROBLEM: CO2 emissions are up, but the increase is coming from poor countries. That’s why, if you really care about carbon emissions, you can’t follow the two-sided Kyoto approach. U.S. emissions will probably fall over the coming years, but it won’t matter because of much greater increases from China, India, and Bangladesh.
Meanwhile, Europeans are now talking about abandoning their carbon-emission limits in the face of economic problems.