Cap and Trade's Failing Grade: A Deeper Look Inside Europe's Emissions Trading ...

Justmeans (Jul 7 2010) Cap and Trade , Carbon Tax , Emissions , Fossil Fuel

1. In Europe, the demand to tax carbon dioxide and other greenhouse gas emissions has increased. Debates surrounding taxation, cap and trade, as well as renewable energy investments are vigorous, and consensus, which translates into tangible actions, has been slow. During his eight-year tenure as president of the European Commission, Jacques Delors spent much of his time arguing for the creation of an EU carbon/energy tax. Unfortunately, in Europe, taxation measures required unanimous approval by the Council of Ministers, as well as the majority of member states. Throughout this reign, many member states, including the UK, vigorously opposed Delors proposal on 'subsidiarity' grounds, arguing that tax jurisdiction resides with national governments, rather than the EU. Additionally, other member states less politically opposed to EU integration, such as Germany, quietly opposed Delors' proposals due to the economic impact a tax would have, particularly on coal reliant industries. Having failed creating a ... (Read Full Article)

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