"Senate Votes To Shield U.S. Airlines From EU's Carbon Scheme"

"The Senate unanimously passed a bill on Saturday that would shield U.S. airlines from paying for their carbon emissions on European flights, pressuring the European Union to back down from applying its emissions law to foreign carriers."

"The European Commission has been enforcing its law since January to make all airlines take part in its Emissions Trading Scheme to combat global warming, prompting threats of a trade fight.

The Senate approved the bill shortly after midnight, as it scrambled to complete business to recess ahead of the November 6 congressional and presidential elections. ...

The House of Representatives has passed a similar measure, and could either work out differences with the Senate's version or accept the Senate bill when Congress returns for a post-election session."

Valerie Volcovici reports for Reuters September 24, 2012.
 

Source: Reuters, 09/24/2012