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U.S., Europe Gird for 'Carbon Trade War'?

~ The Rebel ~ 2012/04/30 02:22:04

The European Union is setting off a confrontation with outside nations —
including the United States — by demanding that all airlines pay a carbon tax
when crossing EU airspace and landing at EU airports.


"The new EU system is portentous. It is an extension of the continent's
cap-and-trade system from domestic sources to the international arena,"
according to Claude Barfield, resident scholar at the American Enterprise
Institute (AEI).


"Though other nations protested as the rules were being formulated, the new
legislation went into effect on January 1, 2012" and the tax will start being
collected in 2013.


Significantly, the tax based on carbon emissions will be levied not just on
the miles flown in EU airspace, but for the entire length of an aircraft's
flight, Barfield reveals in an article headlined "The First Carbon Trade War?"
in The American, the journal of the AEI.


That means a Korean Air jet, for instance, will have to pay a tax based not
on the few hundred miles it flies over the EU but over the entire trip of
several thousand miles from Korea to Europe.


The 27-member EU's action has produced threats of retaliation. More than 20
nations, including the United States, China, Russia, India, Brazil, and South
Africa, have met twice to discuss responses.

Read More: http://www.newsmax.com/InsiderReport/Rick-Perry-Ey...

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  • wicked soda boy 2012/04/30 02:40:08
    wicked soda boy
    +1
    The EU may regret starting this BS. They have enough economic problems now, without making enemies of countries who are big buyers of their wines, and big sources of tourists, like...um, the US.
  • ~ The Rebel ~ 2012/04/30 02:23:07
    ~ The Rebel ~
    +1
    "The Obama administration can drag its heels only so long before pressure from U.S. airlines and their supporters in Congress (particularly in an election year) becomes politically dangerous."

    The Wall Street Journal observed: "Europe can help spark a global trade war nobody can afford over a tax nobody needs in furtherance of an anticarbon nirvana that never will come to pass."

    http://www.newsmax.com/Inside...

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