The New Scientist reports that a team of European climate scientists find many Kyoto Protocol signatories are underreporting their greenhouse gas emissions. To wit:
Many governments, including some that claim to be leading the fight against global warming, are harbouring a dirty little secret. These countries are emitting far more greenhouse gas than they say they are, a fact that threatens to undermine not only the shaky Kyoto protocol but also the new multibillion-dollar market in carbon trading.
And here's another shocker: "Ironically, the best monitoring is done by the US and Australia, which are both in denial over Kyoto."
Whole thing here.