April 19, 2012

The EU's Carbon Trade War

Claude Barfield, The American

AP Photo

The European Union—or at least its feisty climate commissioner Connie Hedegaard—seems determined to take on the whole world by demanding that all airlines pay a carbon tribute for the privilege of crossing EU airspace and landing at EU airports. The tax, which will start being collected in 2013, would be levied not just on the miles flown over EU territory but for the entire length of the trip—thus, Indian or Korean airlines that traverse only a few hundred miles over the EU when traveling from Mumbai or Seoul would have to fork over taxes based on the entire trek of several thousand miles. All told, it is estimated that the EU would have taken in $1.2 billion from all airlines in 2012 had the new system been in place, a toll that rises to $3.6 billion by 2020. A...

Read Full Article ››

TAGGED: European Union, Climate Change, global economy

RECOMMENDED ARTICLES

April 13, 2012
Economic Confidence Falls in Britain
Angus Reid
People in Britain are particularly downtrodden about the country’s current financial standing, a new Angus Reid Public Opinion poll has found. In the online survey of a representative sample of 2,231 British adults, only... more ››
April 13, 2012
Capitalism and Peace (PDF)
Cato Institute
Is there a link between free markets and peace? more ››
April 6, 2012
The New Politics: Debtors vs. Creditors
Tina Fordham, The World Today
This promises to be a very political year. Elections are taking place in many of the most economically powerful and geopolitically significant countries following last year’s wave of mass protests.  Shifting public opinion –... more ››
April 18, 2012
EU Should Maintain China Arms Embargo
Richard Weitz, The Diplomat
Last month, I was in Sweden meeting with think tank and government officials. The main purpose of the visit was to discuss EU-U.S. policies toward Iran, especially the effectiveness of the international sanctions seeking to... more ››
April 12, 2012
EU Divided Over Shale Gas and Oil
Jamestown Foundation
Potential large shale gas deposits in Europe have raised hopes that the old continent may in the future rely less on oil and natural gas imports from Russia. However, fears of potential environmental effects of hydraulic... more ››