Tuesday, November 13, 2012

Carbon Collapse

The European Union holds off on the carbon tax:
The European Union on Tuesday backed down from a controversial plan to charge international airlines for the pollution they create on flights to and from the continent, facing retaliation from the U.S., China, and India and other nations who said it encroached on their sovereignty.

European Climate Commissioner Connie Hedegaard called for the bloc to “stop the clock” on the emissions trading system, or ETS, giving the International Civil Aviation Organization (ICAO) another year to come up with a global solution for a meeting next November. The exemption applies to all foreign air carriers, but not those based in the EU.
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U.S. airlines were willing to pay for their emissions in European airspace, but the controversial part of the plan was that Europe also wanted to charge for the emissions they created outside the EU’s airspace. Critics said the debt-plagued EU had imposed the tax to fill its coffers.
The skies outside of the EU are not up for negotiation, or shakedowns...

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