The real answer to global warming....

New technologies are the answer, says Michael Shellenberger and Ted Nordhaus, but first they note the dismal failure of Kyoto..

The truth is that those developed nations that actually ratified Kyoto - including those countries whose diplomats booed the United States - saw their greenhouse-gas emissions go up, not down, by 4 percent from 2000 to 2004. In Germany and Britain, the only two major economies to register reductions, emissions fell due to factors having nothing to do with Kyoto or global warming. Margaret Thatcher broke the coal miners' union, moving Britain to cleaner burning natural gas, and the East German economy collapsed after the fall of communism, reducing a reunified Germany's reliance on dirty coal plants. When you remove Germany and Britain from the calculation, European emissions rose 10 percent between 1990 and 2005.

Their answer - investing in new technology...

Solar and wind are just part of the solution. What's needed is a portfolio of investments jointly made by the world's wealthiest countries. The United States, Europe, Canada, Australia and Japan should create a 10-year, $1 trillion energy fund to invest in a range of technologies, many of which (like solar) would be manufactured in China. The prospect of billions of new investment might be enough for China to agree to some emissions limits or even a carbon tax. Together, this new clean energy bloc could drive the commercialization of cheap clean energy technologies throughout the global economy.