Unlike their US counterparts, EU policymakers still face the roadblocks of no money and no common treasury, says economist and author Yanis Varoufakis
‘The EU spend billions on expensive fracked oil and liquified natural gas imports from Texas and New Mexico.’ Freeport LNG, Texas, the second largest exporter of US liquified natural gas.offers equivalent subsidies to every electric car sold in the EU is also shaky. A closer look reveals two key differences.
Why is the EU not following the dictum “if you can’t beat them, join them”? Why not offer the same subsidies Biden made available to US-based manufacturers to companies manufacturing in the EU? The reason is that, unlike carbon trading schemes that pay for themselves, subsidies require a common budget, lest Portuguese or Slovenian manufacturers receive much lower subsidies courtesy of their governments’ relative impecunity.
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