Next week, President Obama will head to Copenhagen to “rally the world” and lobby for global reductions in greenhouse gasses. The Wall Street Journal reported today on the enormous costs being ignored by proponents of the conference. The controversy stems from the existing Kyoto Protocol which puts limits on the emissions of rich countries while placing zero obligations on developing countries. Under the new proposals coming out of the European Commission, rich countries will be required to cover emissions from developing nations to the tune of €100 billion ($150 billion) by 2020.

But who is going to pay for this?

Eastern European countries that are heavily dependent on coal for powering their industries have started a small revolt over their limited resources being taken to subsidize other developing nations, especially during the current global downturn. As Poland’s finance minister stated recently, “it is totally unacceptable that the poor countries of Europe should help the rich countries of Europe to help the poor countries in the rest of the world.”

Until the issue of cost is settled, countries will continue to hand off the responsibility to wealthier nations. If President Obama continues to offer grandiose promises to cap carbon emissions, the American taxpayer will be left picking up the tab.

As the conference gets under way, Americans for Prosperity will be hosting our own “Live from Copenhagen” webcast at the Copenhagen Marriott on December 9th. AFP President Tim Phillips and Policy Director Phil Kerpen will be joined by Lord Monckton, former policy adviser to Prime Minister Margaret Thatcher and Wolfgang Müller of the Institute for Free Enterprise in Berlin. You can watch from your computer, or with others in your area! Visit http://americansforprosperity.org/120209-hot-air-tour-live-copenhagen to find a watch party near you or plan your own.

Write to Thomas Doheny at thomas.doheny@afphq.org