Global warming & Climate Change, Kyoto protocol= NOT the answer!

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I think its become painfully clear what a serious issue global warming has become. Once Mr. Bush stopped denying its existence and only started attacking the merits of the scientists who identified it, the global community knew it was in trouble. Too bad the Kyoto Protocol wasnt honoured some years ago when its goals were even remotley attainable, who knows, maybe we might've succeeded. But its no use living in the past, honouring the Kyoto Protocol now would mean the utter devastation of every economically advanced nation in the world. But there is another answer, one that has not been discussed nearly enough: The Washington Declaration. For those who dont know, the Washington Declaration is a bill that supports the allocation of certain number of "pollution quotas" to nations around the world. These quotas would be traedable, so nations that required less would be able to trade them to pollution-boomers like China, the USA, Canada, and Britain, thus allowing them to advance their economy, preventing the collapse of the economically-strong countries, and at the same time, capping emmisions to an acceptable level. Now tell me, does this bill not make more sense than Kyoto?