<?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />

Issues in the News

1. ENERGY

California Governor Arnold Schwarzenegger and British Prime Minister Tony Blair prepare to collaborate on global warming policy initiative. 

CEI Expert Available to Comment: Senior Fellow Iain Murray on what everyone should know about global warming.

““Cap and Trade” schemes that allow firms and governments to trade the right to emit greenhouse gases up to certain limits are not economically efficient. By creating rent-seeking opportunities, they promote the development of a carbon cartel seeking to exploit the system to make profits. The recent collapse of the carbon market in Europe shows how dependent such markets are on political considerations.”

2. BUSINESS

Boeing reports a 10 percent increase in second quarter revenue. 

CEI Expert Available to Comment: Warren Brookes Journalism Fellow Tim Carney, author of The Big Ripoff: How Big Business and Big Government Steal Your Money, on how the U.S. government uses the Export-Import bank to subsidize Boeing. 

“[The Export-Import bank] is also known as “Boeing’s Bank,” and for good reason. Between 1998 and 2004, Ex-Im issued loans and long-term guarantees for $53 billion of U.S. exports. Just under $28 billion of those deals were Boeing sales.[8] That means that this federal agency exists not just primarily, but mostly, to subsidize Boeing’s overseas aircraft sales.”

3. TRADE

WTO Doha Round trade talks dissolve, leaving some UK officials worrying that the world is heading toward protectionism.

CEI Expert Available to Comment: Adjunct Fellow Fran Smith on the collapse of the talks. 

“What’s needed in the aftermath of the Doha collapse is not the mercantilist view that has caused the current impasse. Rather, there needs to be a fundamental change in the approach to trade that emphasizes its enormous benefits to people in both the developed and the developing world. Special interests should take a back seat to consumers’ interest.”

Blog feature: For more news and analysis, updated throughout the day, visit CEI Open Market.

FOR MORE INFORMATION

To contact a CEI expert for comment or interviews, please call the CEI communications department at 202-331-2273 or email to [email protected].