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Airlines 'made billions in windfall profits' from EU carbon tax

2013-01-24 10:58:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: Airlines made windfall profits of up to 1.2bn ($1.81bn) last year from a EU carbon tax they claimed would impose crippling costs on industry, according to a report into the measure's impact on the industry. The EU backed off on plans to charge airlines for their carbon pollution after ferocious opposition from American, Chinese, Russian and other airlines, which argued the charge would cost the industry billions. Congress passed a law last November shielding US carriers from paying the tax....

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