Even the EU is Figuring Out that Kyoto Won't Fly

Even the EU is Figuring Out that Kyoto Won't Fly

Europe's Cold Sweat Over Kyoto

The erratic weather of recent years in Europe, from devastating floods to lengthy heat waves, has convinced many on the Continent that human-induced climate change is no mere theory.
Then why are so many European Union leaders getting cold feet about doing something about global warming?

Because despite the change in weather patterns and Europe's green rhetoric, the EU faces a reality check on March 31, the day each member nation must submit a plan for reducing emissions of greenhouse gases.

The projected costs, as well as the likely loss of economic competitiveness with the United States, has the EU wondering if it can virtually go it alone in implementing the Kyoto Protocols on climate change. The protocol has yet to take effect as a binding treaty since the US and Russia won't sign on, and China and India were given a pass for now. . . .

But Europe's auto and electric industries recently warned of a slowdown in growth if they are forced to invest in clean energy technologies. The warnings come as the EU has acknowledged that it's falling further behind in its plan to match the US in productivity, employment, and growth.

Those kinds of warnings about slow growth are what compelled the US Senate, and President Bush, to reject Kyoto. If Europe now backpedals, the global effort to influence climate change will be driven mainly by the market, as car buyers and the auto industry choose to become less polluting. And Europe will lose its claim to global leadership in pushing Kyoto.