Canada to withdraw from Kyoto Protocol

Some interesting and disappointing news delivered by the BBC. Here it is:

"Canada will formally withdraw from the Kyoto Protocol on climate change, the minister of the environment has said.

Peter Kent said the protocol "does not represent a way forward for Canada" and the country would face crippling fines for failing to meet its targets.

The move, which is legal and was expected, makes it the first nation to pull out of the global treaty.

The protocol, initially adopted in Kyoto, Japan, in 1997, is aimed at fighting global warming.

"Kyoto, for Canada, is in the past, and as such we are invoking our legal right to withdraw from Kyoto," Mr Kent said in Toronto.

He said he would be formally advising the United Nations of his country's intention to pull out.

He said meeting Canada's obligations under Kyoto would cost $13.6bn (10.3bn euros; £8.7bn): "That's $1,600 from every Canadian family - that's the Kyoto cost to Canadians, that was the legacy of an incompetent Liberal government..."

Here is the link to read more: http://www.bbc.co.uk/news/world-us-canada-16151310

Here is the kicker on the deal: "He said that despite this cost, greenhouse emissions would continue to rise as two of the world's largest polluters - the US and China - were not covered by the Kyoto agreement.

"We believe that a new agreement that will allow us to generate jobs and economic growth represents the way forward," he said."

Can you blame Canada for pulling out of an ineffective agreement that fails to halt emissions yet costs them billions. As we've been saying, the only programs that will sustain long-term are those that have a reasonable ROI on investments. This one, at least for Canada, does not.

We'd love to hear your comments as well.