The last last shoe has dropped: the Russian parliament (or Duma) ratified the Kyoto Treaty today, meaning that it will take effect in 90 days -- February 16th. The only four industrialized countries not to sign the treaty: Australia, Liechtenstein, Monaco and the United States. The US situation we know all too well, and Australia is led by a close Bush ally. But what's up with Liechtenstein and Monaco?!?
Maybe neither want to see capital flight? Aren't both tax havens?
I think Australia's huge coal export industry is especially relevant to its refusal to sign onto Kyoto.
Australia will no doubt find that income helpful, and the memory of warm relations with the U.S. a comfort, if/when it is swamped with Pacific Islander refugees whose nations have been inundated by the rising ocean.