The Receding Prospect of Effective Implementation of Greenhouse Gas Emission Legislation. (January 3, 2010)

It is becoming increasingly obvious that the more the discussion at national and international levels with regard to the anthropogenic contribution to global warming through the emissions of greenhouse gases the less the willingness of nations to walk the walk.

China and India have simply told the developed nations that they'll do it their way; US President Barack Obama has gone along looking toward the future while the EU and especially UK Prime Minister Gordon Brown have voiced frustration.

CREDIT: Science (SOURCE:) U.N. FRAMEWORK CONVENTION ON CLIMATE CHANGE AND SCIENCE

What until now has got little mention is the power of the US Senate in all of this. By now the world has come to know that if proponents of a Senate bill lack a minimum of 60 votes in the chamber that totals 100 votes, opponents can mount a filibuster which can tie up business virtually indefinitely. But the United States Constitution stipulates that in the Senate a two-thirds majority i.e. 67 votes if all 100 senators vote, is needed to ratify any international treaty.

So, what is the likelihood that no more that 33 senators would vote against an international treaty of consequence to significantly mitigate global warming.

The word infinitesimal comes immediately to mind, and it is unlikely that Australia's federal parliamentarians will be unaware of that probability.

All things considered any individuals thinking of making long-term investments in Australian shore line property should consider their options very, very carefully.