Global warming is a term which we all have heard it many times but not many of us understand it. In general terms, it is the heating up of the earth, but to an economic analyst and scientific community it is more than heating phenomenon. Generally, global warming is a part of climate change, that also involves phenomenon like global cooling, shifting of weather pattern. But have you ever wondered that is this phenomenon a natural or created and hyped?

Global warming as defined is the increase of the earth’s temperature near surface. The phenomenon came into discussions and debates at the global scale in mid twenties when it was thought that rapid industrialization and other economic development were at its exponential growth phase. Population increase that led to increase of exploitation of petroleum products for the transport, and other energy requirements was also cited a reason. The issue found its place in the policy making documents, economic developmental issues, industrial policy and general people alike. In fact, a separate panel Intergovernmental Panel on Climate Change (IPCC) created in 1990 was set up, to look into the various perspective of the phenomenon. Furthermore, in Dec 1997 Kyoto protocol under United Nations Framework Convention on Climate Change (UNFCCC), was adopted and entered into force in Feb 2005 and as of May 2008 where by 182 countries have ratified the document to tackle the global warming by the reduction of green house gases from the anthropogenic source of emission and recently in Bali Indonesia.

There are other schools of thought that negate the theory that global warming is solely due to so called the green house gases emitted by the anthropogenic sources. As Russians, which are critics to Kyoto protocol, says that the theory on which Kyoto document is based lacks scientific base. It is true that the gases like Carbon dioxide, Nitrogen oxides, methane etc are responsible for the warming of the earth's surface, but the document has put the cart before horse in the sense that it is global warming that triggers higher levels of carbon dioxide by unlocking the huge well of Carbon dioxide that are locked beneath the ice caps. The second scientific critic that they put forward is that water vapor being more potent than other green house gases and also is present 5 - 10 times more than other green house gases of the atmosphere. No one is debating the issue of water vapor which is potent green house gas.

In another critic the Russian researcher cite that global warming as a natural process and forward Milankovitch theory which states that the earth due to Eccentricity the shape of Earth’s orbit around the sun. Obliquity (the variation of the tilt of the earth’s axis away from the orbital plane) and Precession or wobbling (the change in orientation of the Earth’s rotational axis), leads to the global climate change.  The concept of clean fuel, carbon credits and other business ventures are seen as a main force to implement Kyoto protocol in haste in order to make huge easy money. It is time to look up the issue through a prism, to get a right and appropriate reason for the debate of global warming at larger global perspective.