Update: Carbon Tax as Suicide Pact

As the famous phrase has it, "the Constitution is not a suicide pact."  Perhaps not, but it is becoming clear that the Kyoto Protocol on greenhouse gases is a suicide pact for the world economy.

Here is that much linked Daily Telegraph piece from this weekend describing how the UK's "green" policies will raise electricity prices by 30 percent.  At the same time, the Economist reports on how the British Government is trying to boost manufacturing.  The phrase "working at cross purposes" does not begin to cover it.

And from Down Under, resource-rich Australia is deciding to get out of the prosperity business by enacting "cap and trade".  This Reuters update reports that Australia will set a price of $25 per ton on carbon emissions.

Update:  the Sydney Morning Herald reports on how the carbon tax in Australia will cost that country's automakers $30 million per year.