Europe’s Expensive Climate Club And Its Detractors

Europe’s Expensive Climate Club And Its Detractors

TOPSHOT - A man wearing an Anonymous mask and a yellow vest (gilet jaune) and holding a Star Wars ... [+] Jedi light laser takes part in a demonstration to protest against rising costs of living they blame on high taxes, by the Arc de Triomphe in Paris, on December 15, 2018. - The "Yellow Vests" (Gilets Jaunes) movement in France originally started as a protest about planned fuel hikes but has morphed into a mass protest against President's policies and top-down style of governing. (Photo by CHRISTOPHE ARCHAMBAULT / AFP) (Photo by CHRISTOPHE ARCHAMBAULT/AFP via Getty Images) The EU published a whole raft of additional climate policies on July 14th with its long-awaited "Fit for 55" package to make Europe carbon neutral by 2050. It included its most contentious plank - the carbon border adjustment mechanism (CBAM). On July 19th, US Democrat legislators introduced a similar bill to tax imported goods for their carbon content sourced from countries that lack strict environmental policies. Details on the US proposal are scant, with one leading newspaper article stating that the US would "require companies that want to sell steel, iron, and other goods to the United States to pay a price