continued global warming, local shifts in temperature and precipitation patterns more intense precipitation events, as well as the prospect of intense droughts and flooding.
             At this point, we can sense the urgency to do something in regards to the forecasted climate changes, but at what costs? Climate change has become an important policy issue for governments all around the world. Presently, policy-makers are turning their attention to questions of "how to limit greenhouse gas emissions" and "how to adapt to, or lessen, the impacts of climate change". However, these issues have a wide range of social and more importantly economic implications as well. One needs to understand that addressing climate change requires fundamental changes to our economy and daily activities, ranging from transportation and industrial production, to home heating, agricultural practices and resource use. Whatever measures any government adopts, it'll guarantee impacts on economic growth and technological change, on international trade, investment and competitiveness, as well as on human energy consumption. It is certain that those issues will affect lifestyles as well as standards of living across the world.
             So the main question one needs to ask oneself is: "How to resolve the issue of climate change with the least amount of detrimental side effects to our economy?
             The United Nations Kyoto Protocol is an international agreement aimed at addressing the whole issue of climate change. The protocol was agreed to in 1997. It commits developed countries to collectively reduce GHG emissions to 5.2% below 1990 levels by the period 2008-2012. Canada's share is 6% reduction below 1990 levels. Every other developed country faces its own different emission reduction committee. In regards to developing countries, and countries that aren't part of the agreement are not required to meet the targets for green hose emissio...