Exiting the kyoto hoax will save Canada a lot of money. Sending billions to Russia was always a scam and I am very pleased HM Canadian Government is leaving this useless treaty.
Canada May Save $6.7B by Exiting Kyoto Pact
By Jeremy van Loon - Dec 2, 2011 12:00 AM ET
Suncor, Canada’s largest oil-sands producer, runs this facility north of Fort McMurray. Kevin Cooley/Bloomberg Markets via Bloomberg
Canada, the country furthest from meeting its commitment to cut carbon emissions under the Kyoto Protocol, may save as much as $6.7 billion by exiting the global climate change agreement and not paying for offset credits.
The country’s greenhouse-gas emissions are almost a third higher than 1990 levels, and it has a 6 percent CO2 reduction target for the end of 2012. If it couldn’t meet its goal, Canada would have to buy carbon credits, under the rules of the legally binding treaty.
Canada, which has the world’s third-largest proven oil reserves, would be the first of 191 signatories to the Kyoto Protocol to annul its emission-reduction obligations. While Environment Minister Peter Kent declined to confirm Nov. 28 that Canada is preparing to pull out of Kyoto, which may ease the burden for oil-sands producers and coal-burning utilities, he said the government wouldn’t make further commitments to it.