Some news other than the markets collapsing.
According to The Great Beyond, a blog at Nature, there could be a Climate change trade war brewing.
Europe and the US could be headed for a trade war over climate change.
In a speech yesterday José Barroso, president of the European Commission, said he would be ready to force companies outside the EU to buy carbon allowances to ensure that companies inside were not disadvantaged by Europe’s tougher emissions targets (speech).
While this apparently went down well with the audience (of European businessmen) it hasn’t gone down so well with America.
Reuters highlights that US Trade Representative Susan Schwab said that an earlier version of the EU plans seemed to be an excuse to close the European market and amounted to something like protectionism. More worryingly, the notes for speech delivered by Schwab last week contains the statement, “The unilateral imposition of restrictions can lead to retaliation, and dramatically impact economic growth and markets worldwide – while accomplishing nothing or worse when it comes to advancing environmental objectives.”
The Christian Science Monitor reports Wind, solar tax credits to expire. “After years of start-and-stop growth, wind-and solar- power industries soared in 2007, thanks to three consecutive years of tax credits that provided a critical lift for both sectors. But whether the fledgling industries can fly without tax credits, due to expire at the end of this year, is a question being debated on Capitol Hill this week.”
Nearly one-third of all US power capacity added last year – about 5,244 megawatts – was in wind. Overall wind-generating capacity soared 45 percent last year, adding the clean-energy equivalent of 10 large coal-fired power plants, the American Wind Energy Association (AWEA) reported last week.
Wind power injected $9 billion into the US economy and now employs 20,000 people directly, the industry says. Plans for at least eight new US wind-power manufacturing plants employing 5,000 workers were announced last year, AWEA officials say…
Together, today’s tax breaks for wind and solar cost taxpayers a little more than $1 billion annually.
I think this has been a good investment for America and should be continued.
Four at Four continues below the fold with a story about the Canadian border and the death of thousands of Inuit sled dogs.