The writers show that the present-day global warming is not due to the increase in the volume of greenhouse gases, but rather to the increased solar activity. It appears that we are at the rising phase of the latest 80-90 year cycle of the solar activity. At the present time, there is no sound justification for the cut in the man-induced carbon dioxide emission as required by the Kyoto Protocol of 1997. The rising global temperature drives large volumes of CO2 from the ocean water into the atmosphere. Thus "cause" and "effect" of global warming phenomenon are misunderstood by many scientists.