Explaining the ups and downs of the price of oil requires either a PhD and/or an ability to craft a good story. The French institute Enerdata has found another factor that anyone who wants to tell the full tale should take note of: CO2 regulations can affect global oil prices. Perhaps someone should tell the EPA.
The drama of implementing carbon dioxide emissions limits for European cars continues this week with the latest directional change. This time around, with the French holding the rotating presidency of the European Union, a new proposal has emerged that would see the limits phased in over a three-year period beginning in 2012. Originally, the plan was to have each manufacturer's fleet average no more than 130 g/km of C02 emissions by 2012. Under the latest proposal, only 60 percent of an automake
Regarding the lawsuit by car makers to try and stop states from individually regulating carbon dioxide emissions, U.S. District Court Judge William Sessions has ruled that a trial can start next Tuesday to stop the CO2 regulations that have been enacted in California from being enforced. Ten other states have opted to follow the California rules since the EPA has so far declined to regulate greenhouse gases. After the Supreme Court ruled that the EPA has the authority to regulate CO2 emissions,