Very upsetting news

I'm picking up this story around the web and wondering how much truth is in it. It has to do with a speech given by Lord Monckton concerning some sort of international treaty (Treaty of Copenhagen) Obama is going to sign in December, giving away US sovereignty and assigning this country massive taxes to pay to third world countries for our guilt in using so much energy. Here's hoping this is hyperbole. Unfortunately, if Obama did this, who would be surprised:

And the trouble is this; if that treaty is signed, if your Constitution says that it takes precedence over your Constitution (sic), and you can’t resign from that treaty unless you get agreement from all the other state parties – And because you’ll be the biggest paying country, they’re not going to let you out of it.

So, thank you, America. You were the beacon of freedom to the world. It is a privilege merely to stand on this soil of freedom while it is still free. But, in the next few weeks, unless you stop it, your president will sign your freedom, your democracy, and your humanity away forever. And neither you nor any subsequent government you may elect will have any power whatsoever to take it back. That is how serious it is. I’ve read the treaty. I’ve seen this stuff about [world] government and climate debt and enforcement. They are going to do this to you whether you like it or not.