The Canadian government is providing a new $1 billion subsidy to its paper and pulp industry to compete with American paper producers who are benefiting from a new tax credit for "biofuel." The New York Times, which has a nifty dispatch on the topic, quotes a scientist at the Natural Resources Defense Council who says, "for all intents and purposes, this is basically a subsidy that plays catch-up." The American biofuel tax credit, he said, "has prompted another country to subsidize one of the most polluting industries in the world."
Unintended Consequences
https://www.futureofcapitalism.com/2009/06/unintended-consequences
by Editor | receive the latest by email: subscribe to the free futureofcapitalism.com mailing list