Wednesday, October 31, 2007

Japan: Kyoto is another Hiroshima

As Benny Peiser informed us,
Japan will pay USD 10.5 billion for Kyoto permits.
That's something like 1 percent of their general annual budget. The economic damages of the latest huge earthquake in July 2007 was about USD 10.5 billion, too. I think that is is obvious that if Japan cannot quit Kyoto at this moment, paying the bill is much cheaper a method than to try to reduce CO2 emissions by 8 percent. If the CO2 emission reductions were cheaper, Japan would have already made them.

Now, there is no real problem with Japan because the Japanese have been servile for 60 years and maybe even during the war. They will effectively pay an additional USD 100 tax per person and everything is fine. But I assure you that if such a difficulty occurred in a country whose citizens have a somewhat higher self-confidence, it could be a real problem. Well, former Japanese politians (and their voters) are the only ones to be blamed for the Japanese signatures under the Kyoto protocol.

It has always been very clear that the emissions wouldn't be dropping and any decrease would be linked to a decrease of the GDP. Only post-socialist countries that had a lot of useless heavy industry waiting to be phased out could have benefitted from Kyoto. But the politicians who were signing the protocol were usually thinking about their image rather than the actual economic implications of the treaty.

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