Europe calls ICAO lazy and tries to earn money in the name of global warming.

In a shocking move the European Union has attempted to stretch its power globally. In there latest proposal they have stated airline carriers will be required to pay for emission credits for flights originating or terminating in the the E.U. This doesn't sound too bad however they want carriers to pay for the entire duration of the flight, Not just those portions within E.U. airspace. For example: a U.S. carrier flying from New York to a Destination in the E.U. would pay for carbon credits for portions of the flight flown in U.S. and international airspace. Now this is obviously stretching the power of the E.U. far beyond their borders.
My first problem with this is obviously the fact they are stretching there governing power beyond their borders. There claim is emissions effect the entire world and this gives them the power to make such a regulation. They have also stated this is in response to ICAO's lack of emissions regulations. While the U.S. government and carriers fight this ruling the E.U.'s Issac Valero-Ladron has stated the ruling is already set in stone. My second issue is they are doing this over a widely unproven and in many cases considered dis proven issue. for more on that, this link can get you started. http://www.falconium.org/node/337.
So why is this E.U. doing this? My personal feeling is that it has much to do with their continued financial crisis.http://www.ira.com/debt-crisis-continues-eu-finance-ministers-have-no-answers This would bring in more money from many foreign countries. Thus increasing money being brought into there economy. The E.U. has also been grey on how the money brought in from this regulation will be spent. Saying It will be given over to European and third world countries for research into environmental aviation technologies. These countries will report to the E.U. and it is the E.U.'s "intention" to make these reports public. Their intention makes me nervous. So they intend to release the reports but are not sure even after they have gone on record saying the regulation is set in stone. This brings me to a few questions. Shouldn't you know where the money is going and how it will be handled before you take someone's money? Secondly what third world countries have the money to spend on researching Aviation Emissions? Not many third world countries have a basis of aviation travel to do research on nor the technology or facilities to perform such research. My feelings are that this must not be allowed to stand. If this passes what is next? Where does this stop? Does this make it ok for countries to enact regulations beyond their borders? The U.S. clearly feels this is unjust as they have released legislation banning U.S. carriers participating in these taxes. http://transportation.house.gov/news/PRArticle.aspx?NewsID=1357.
We will all have to wait and see how this works out. It will be interesting and could open many doors for more legislation beyond borders if this stands.