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26 U.S. Economists Urge the President to Support the EU’s Emissions Scheme

The Blaze reported Monday that the European Commission is facing something of a revolt over its plan to price carbon emissions on all aircraft flying to and from the eurozone via its emissions-trading scheme (ETS).

European airlines and plane manufacturers oppose the ETS because a) it’s expected to cost the airline industry about €9 billion ($11.8 billion) by the end of 2020 and b) they fear it will start a trade war.

Furthermore, China has already told its airlines to ignore the ETS while both India and Russia have threatened to limit EU carriers’ traffic rights and raise charges for EU carriers.

So, to put it plainly, the EU has met some serious backlash for its emissions-trading plan.

Therefore, for some reason, 26 U.S. economists thought it would be a wise idea to write President Barack Obama a letter, urging him to stand with the European Commission in support of the ETS.

“The economists call on the U.S. to support the EU’s ‘innovative efforts’ to price carbon and limit aviation emissions,” The Wall Street Journal reports.

“As you know, the uncontrolled flood of carbon emissions into the atmosphere is driving climate change and increasing the risk of catastrophic outcomes,” the letter reads. “It is time we recognize this risk by putting an appropriate price on carbon emissions, in aviation and in all other sectors. The EU’s ETS is a first step in that direction. Your administration should endorse the EU’s efforts, not oppose them.”

“We implore you to support the European Union’s innovative efforts to place a price on carbon from aviation through the emissions trading system (EU ETS), or, at the very least, to stop actively opposing these efforts,” the letter adds.

Among those who signed the letter are five Nobel laureates, including New York University‘s Thomas Sargent who won last year’s prize in economics. The rest of the signatories come from “leading universities” including Harvard, Stanford, Columbia, Princeton, and Berkeley.

But these award-winning academics may not have realized that, should the president act on their advice, he would find himself in the uncomfortable position of having to undermine Secretary of State Hillary Clinton. Clinton said last December that the U.S. “[would] be compelled to take appropriate action” should the EU try to enforce its emissions scheme.

26 U.S. Economists Urge the President to Support the EUs Emissions Scheme

“Under the emissions-trading system, which went into effect for airlines on Jan. 1, any carrier operating at a European airport must have special credits to offset its carbon-dioxide emissions,” the Journal’s Doug Cameron writes. “Airlines have said the system will cost them billions of dollars. Some non-EU governments have said the bloc has overstepped its authority by charging for emissions that occur outside the EU. Some opponents have warned that the system would spark a trade war.”

In fact, the CEOs of Airbus, Deutsche Lufthansa AG, Air Berlin PLC and engine maker MTU wrote a strongly worded letter to German Chancellor Angela Merkel, urging her to convince the EU Commission to rethink its position, The Blaze reported Monday.

“This is starting to have serious consequences on the European aviation business and could proliferate at any moment,” the letter to Merkel said.

Airbus says China has already suspended a $12 billion jet deal because of the scheme and warns “more retaliation is imminent” unless the eurozone backs off (or at least reconsiders) its ill-advised plan.

Comments (66)

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  • ICRedifURBlue
    Posted on March 14, 2012 at 11:32pm

    Fluke their damn emissions BS……………………….

    Report Post »  
    • lani59
      Posted on March 14, 2012 at 11:41pm

      26 paid for liberal economists who what to destroy the economy, gee YA THINK? George Soros is betting on this one folks, gee YA THINK?

      Report Post »  
    • 000degrees
      Posted on March 15, 2012 at 7:33am

      Jackass in chief does not need any encouragement for this….he will get there on his own.

      Report Post »  
    • MCDAVE
      Posted on March 15, 2012 at 10:19am

      Cap and trade will be a back breaking tax on everyone with no limits to the revenues they can extract from us..the socialists desperately want this so they can all be as rich as Al Gore is,off his Global warming scam.

      Report Post »  
    • lukerw
      Posted on March 15, 2012 at 11:53am

      Obama‘s ’Cap and Trade’ energy credit scheme… has produced an Evil Son in Europe… and some Idiot are saying that they want to Force Obama to support it?

      “Energy Prices… will neccissarily… Sky Rocket”… Obama, 2008

      Report Post » lukerw  
    • aerorepairo
      Posted on March 15, 2012 at 1:26pm

      So tell me, who are these 26 economists? Where did these “26 economists” get their college diplomas and degrees from? Sounds like a bunch of Al Gore’s Global Warming soldiers to me. Or it was a typo and 26 was mistakenly typed instead 2?

      Report Post » aerorepairo  
    • Ruler4You
      Posted on March 15, 2012 at 3:03pm

      We support their economy enough as it “IS”. Coupled with their fiscal irresponsibility we are only throwing good money after bad. It’s a stupid idea.

      And that “IS” why obango WILL do it.

      Report Post » Ruler4You  
  • txjb
    Posted on March 14, 2012 at 11:23pm

    Control the people with the enviroment laws. New World Order is getting in place .

    Report Post »  
  • stains
    Posted on March 14, 2012 at 11:11pm

    Some day I will discover and develop a cheap, fast mode of transportation. And these pinheads and all who support them will be prohibited from using it.

    Report Post »  
  • MrMagoo
    Posted on March 14, 2012 at 11:08pm

    Hmm,the Blaze completely censored me.No swear words,just harsh comments on this issue/topic.Oh well.

    I will accept any rules that you feel necessary.I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them. I am free because I know that I alone am morally responsible for everything I do.-Robert A. Heinlein

    Report Post » MrMagoo  
    • Chuck Stein
      Posted on March 15, 2012 at 11:35am

      Blaze has done that to me as well. I pointed out a clear logical fallacy of a post and noted that the person making the post had really slipped in the quality of their posts. I tried to post the comment and it was not placed. Then, 12 hours later or so, I tried again. Again, the post didn’t go. Other posts of mine (to other strings) did go up.

      Report Post »  
  • Apple Bite
    Posted on March 14, 2012 at 11:07pm

    He sides with them, every Aircraft company in the U.S. would be so firmly against him, their logos will be imprinted on his backside.

    Report Post » Apple Bite  
  • Apple Bite
    Posted on March 14, 2012 at 11:04pm

    If he knows like I know, he’ll leave that scheme the hell alone…

    Report Post » Apple Bite  
  • Aerocog
    Posted on March 14, 2012 at 10:42pm

    Sounds like they were paid off or that having the emissions regulation will acutely benefit them.

    Report Post »  
    • Messenger4God
      Posted on March 14, 2012 at 11:00pm

      I suspect the same thing. It will come as no surprise if they are involved in the scam/scheme.

      Report Post » Messenger4God  
  • chips1
    Posted on March 14, 2012 at 10:39pm

    Why do I get the feeling that if we don’t comply with The New World Order, MARS will attack us? OH!!! Never mind. It was that movie!!!

    Report Post »  
  • Darmok and Jalad at Tanagra
    Posted on March 14, 2012 at 10:36pm

    26 out of 27 economists agree, Obama is a great leader. Unfortunetly, the 27th economists came down with a severe case of depression and stabbed himself 26 times in the back. Tragic accident.

    Report Post » Darmok and Jalad at Tanagra  
  • youdidthis
    Posted on March 14, 2012 at 10:35pm

    You must watch this NOW!!!
    http://www.youtube.com/watch?feature=endscreen&NR=1&v=LTVRqQcjeEg
    the truth is revealed.

    Fox News Admits The Fed Government Is Out Of Control!
    http://www.youtube.com/watch?v=qX4VtriddJ0

    Report Post »  
  • SpeckledPup
    Posted on March 14, 2012 at 10:35pm

    as soon as we start to accept AND TALK ABOUT we are facing obama angrily hatefully pushing America‘s Sovereignity into the hands of his master’s EU aka NWO aka FOURTH REICH, the better for US REAL AMERICANS.

    Report Post »  
  • Mikev5
    Posted on March 14, 2012 at 10:34pm

    All we need to survive is outlast the EU let that bunch of misfits socialists fold under and die then we can breathe again.

    I believe some of the 2008 disaster was caused by the EU and their maneuvering to gain control of the USA think about it the proof in there.

    I never trusted the EU or anything they did they were trying to rope the USA into a trap a lot of the tarp money bailout money went to foreign Banks a lot of money WHY.

    Report Post » Mikev5  
  • Mark0331
    Posted on March 14, 2012 at 10:34pm

    Is this a way to control movement/freedom of people through eventual cost hikes…seems to be the beginning of ‘that goal’…

    Report Post » Mark0331  
  • SpeckledPup
    Posted on March 14, 2012 at 10:33pm

    26 communists in obama’s communist party, telling him to surrender more of America’s Sovereignity into the grip of the NWO aka Fourth Reich as soon as possible… this time thru America‘s ’emissions’.. what a HOAX.

    Report Post »  
  • youdidthis
    Posted on March 14, 2012 at 10:32pm

    Fox News Admits The Fed Government Is Out Of Control!
    http://www.youtube.com/watch?v=qX4VtriddJ0

    judge rips new one
    shep smith?
    loses his mind as he recognizes the truth.

    Report Post »  
  • Jenny Lind
    Posted on March 14, 2012 at 10:26pm

    Just please tell me we can get through to next January and a different president. Please God hear our prayers for our country and our freedom.

    Report Post »  
    • youdidthis
      Posted on March 14, 2012 at 11:08pm

      forgetting about the lame duck bs?
      remember how they passed the lame health scare bill?

      we will be lucky to get to the elections.

      Report Post »  
  • Mikev5
    Posted on March 14, 2012 at 10:24pm

    The EU wants to take us Americans and make us conform to their socialist bull crap nation mentality they want us to become part of the EU and control us.

    I think the EU has become our enemy it all started with the euro and the consolidation of any country that goined.

    Report Post » Mikev5  
  • RedneckJim
    Posted on March 14, 2012 at 10:23pm

    I would strongly urge the president to send all these economists to Europe on a one-way flight so they can expound and impress all the socialist morons there and leave us the heck alone!

    Report Post »  
  • AxelPhantom
    Posted on March 14, 2012 at 10:22pm

    From a 1979 plan
    “The gradual introduction of a system of international taxation which should be handled by a World Treasury, both to meet the current as well as the developmental needs of the poorer nations;…The statutes of transnational enterprises should be under the supervision and their profits taxed by, an inter- or supranational authroity…” From Reashaing the International Financial Order, Club of Rome

    “This tax could, for instance, be introduced as one of a moderate rate and gradually be raised to something in the order of 70% of profits on fossil fuels and 50% of the value of production of ores (including uranium)…It is now recognized that a more elaborate system of careful husbandry and management of raw materials and scarce resources is inevitable” From RIO, Club of Rome

    Report Post »  
  • wzanesdad
    Posted on March 14, 2012 at 10:20pm

    26 economists support this? Why don’t they mention the 10,000 that don’t? These people are AINO”S (americans in name only)…I have no use for them Sometimes this all gets soooo frustrating. I jist try to remember that, in the end,,,we win !!!

    Report Post » wzanesdad  
  • Dougral Supports Israel
    Posted on March 14, 2012 at 10:17pm

    I’m staging my own revolt against this. No way, no how will I take any trips to Europe and pay this tax. If others do the same it will cost Europe megabucks in tourist dollars.

    Report Post »  
  • RougeFastFingers
    Posted on March 14, 2012 at 10:14pm

    No, we should not.

    Report Post » RougeFastFingers  
  • youdidthis
    Posted on March 14, 2012 at 10:06pm

    how much more you going to take america?

    do you have to be loaded into the dam fema camps?

    what does it take?

    these people are traitors and seditionists.

    Report Post »  
  • Psychosis
    Posted on March 14, 2012 at 10:00pm

    instead of a carbon trading scheme tax i propose a new law tax

    for every new law written since 1800, a tax is to be assessed on ALL politicians and their staffs not to be less than 10% of their income

    this tax is NOT to run concurrent with other taxes on new laws, and is to be assessed on all laws individually with out a grandfather clause

    all monies collected is to be paid soley on the debt , and all balances will be the responsibility of said politicians, and staff, and their offspring for 10 generations

    there, i think i solved most of our problems right there

    Report Post » Psychosis  
  • martinez012577
    Posted on March 14, 2012 at 9:54pm

    Tells you what kind of economists we have.

    This game is about to end people. For your families sake, store food, water, clothes, guns, bullets and fuel. You will need it.

    Report Post » martinez012577  
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