The U.S. has also avoided a national carbon tax scheme and now has abundant cheap natural gas to power electric generation plants. This has already lowered greenhouse gas emissions tremendously. Of course, the loss of production in the industrialized world has lowered its emissions as well. The U.S. is fast becoming much more productive than Europe as our conversion to natural gas as a feedstock for many industries grows and as our electricity generation switches to low cost natural gas. This has alarmed the EU and they want to force us to adopt carbon taxes or to make new trade agreements with them to level the playing field. The EU has ignored the greenhouse gasses that are coming from China and instead flogs itself to death with more and more carbon schemes and unaffordable alternative energy. One reason for the gigantic budget deficits in the EU states are the subsidies for alternative energy and the endless welfare for the people who cannot find work. Even with unemployment at record high levels in the southern states of the EU that rely heavily on tourism, the EU wants to implement a carbon tax on airlines which is really a carbon tax on tourism. All the emerging market countries are against this carbon tax on airlines and the U.S. is against it as well. The amazing thing is that none of the southern countries in the EU has protested against this silly tax on tourism. The EU of course could care less, as it is a bureaucracy second to now in the world and answers only to itself until very recently when the British forced a slight cut in its budget.