Global crooks – Soros, Summers call for global bank and carbon taxes

November 8, 2010 05:19

Even though the UN’s IPCC climate report has been thoroughly discredited as politicized, a UN panel including George Soros and Larry Summers called for taxes on developed countries to help poorer countries with ‘global warming’.

By Alex Morales and Jim Efstathiou Jr. at


The findings are intended to guide envoys at UN climate talks that start this month in Mexico as they seek ways to pay for $100 billion in climate aid that was pledged by 2020 to poor nations at last year’s summit in Copenhagen.

The panel assumed a carbon price of as much as $25 a ton on emissions in the levy it suggested.

An additional $12 billion would come from a levy on shipping and aviation, the report showed. Waskow said the levies on transportation need to be structured so as not to harm developing nations.

“Concerted global action and a carbon price of at least $25 is required to achieve the necessary transformation in the global economy,” U.K. Energy and Climate Change Secretary Chris Huhne said in a statement. Huhne is a member of the advisory group.

The panel also looked at a “wires charge” on electricity generation, which it said might provide $5 billion; the removal of fossil fuel-subsidies, which may raise $8 billion; and a carbon tax, which would garner $10 billion. Private finance could provide a net $24 billion, it said.


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