South Korea delays cap-and-tax

“The government doesn’t want to shock industries with the scheme.”

Bloomberg reports:

South Korea delayed approving a cap- and-trade system to cut carbon emissions, setting back efforts to regulate factories and power plants in the fastest-growing producer of greenhouse gases among industrial democracies.

The National Assembly’s Legislative and Judiciary Committee put off the vote for at least a month, chairman Woo Yoon Keun told lawmakers today. The bill to establish the third cap-and- trade system in Asia by 2015 will probably be taken up again in April when the assembly reconvenes, he said…

Read the entire report.

1 Comment

  1. Once again Asians prove that they aren’t as stupid as we seem to willing to allow ourselves to be.
    No wonder that they are at the top of American schools’ graduating classes, they keep getting high scores on the college entrance exams, and they are envied and despised by those who somehow managed to get into secondary schools on entitlements and seek to coast along to graduation.


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