Now get ready for "If you give a global cabal an international tax on energy"
E&E News (6/1/21) reports: " Europe made waves last week when its leaders released a blueprint for the world’s first border tax on carbon emissions. But experts say the United States would have a tough time following in Europe’s wake — despite Democratic plans to do just that. The main reason? Unlike Europe, the United States does not have a broad system for trading carbon emissions. That would make it exceedingly difficult for American policymakers to figure out how to tax carbon-intensive products that cross the U.S. border, experts said. It’s not just an academic problem, either...Congressional Democrats have tried to fill in the gap. Under a bill released yesterday by Sen. Chris Coons (D-Del.) and Rep. Scott Peters (D-Calif.), the United States would impose a fee on carbon-intensive products at the border. But the tax only would apply to a few select products. And the price would not be based on a system for trading carbon emissions...Other experts said that trying to pass a border tax without a carbon price ultimately becomes an exercise in trying to figure out an alternate way to impose a carbon price. Take the new Democratic proposal. In the absence of a carbon price, the bill calls on the Treasury Department — in coordination with other U.S. agencies, including the Office of Management and Budget and the U.S. trade representative — to determine annually what carbon costs producers face under current climate-relevant regulations."
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