If substantial cuts in energy use are enforced, there is likely to be slower economic and job growth that would reduce the standard of living of future generations.
How serious is this claim? According to the Energy Information Administration of the US Department of Energy, considering carbon dioxide emissions as a pollutant would involve additional costs to industry and consumers as much as US$115 billion dollars each year.
President Bush's requirement that there be better scientific evidence before invoking the Kyoto requirements is also guided by the high potential for government actions to be harmful. Those who support increased intrusions seem to overlook evidence over the millennia that government bureaucrats are seldom efficient and do not always serve the interests of the communities they are meant to protect. In this sense, President Bush is merely imposing a higher standard before accepting increased regulation.
Consider for a moment that the Kyoto Protocol could be flawed. If there are better approaches to reducing emissions from fossil fuels, these should be considered. Let's reduce the rhetoric and begin a meaningful dialogue over this vexing problem.
Christopher Lingle is Global Strategist for eConoLytics.com and author of The Rise and Decline of the Asian Century.
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