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International Cap-and-Trade Taxation: U.S. Beware!

By Matthew Sinclair -- September 30, 2010

The American Clean Energy and Security Act (H.R. 2454, aka the Waxman-Markey climate bill) and the American Power Act (aka Kerry-Lieberman climate bill) both contained explicit provisions to create not just a U.S.-side cap-and-trade program for carbon dioxide (CO2) but also a single, transatlantic emissions trading scheme.

The problem is that even if cap-and-trade is dead in the U.S. Senate, its advocates remain committed and have options for international action. The more this can be understood, the more the electorate can reject U.S.-side help for a futile, costly international scheme to regulate CO2 in the name of “stabilizing” climate.

A clear warning that supranational cap and trade was planned beyond the EU’s borders came in a speech last May by the European Commission official Jos Delbeke, Deputy Director General DG Environment.…