Kyoto's Outcome: Recession....

A nice little article in the Financial Post today. Ross McKitrick, from the University of Guelph, testified beforethe House of Commons environment committee on the economic costs of Kyoto.

"People would be astonished if they understood what Kyoto entails," said Mr. McKitrick, an economics professor. "The costs are huge."

He said his warning of a 5.3%-a-year reduction in per capita economic growth is based on Canada's obligation under Kyoto to cut carbon output by 25% over the next five years. It is also calculated using historical data that indicates a direct link between greenhouse gas emissions and the pace of economic growth in the country.