|Obama to Impose Solar Sanctions on China|
|by Tom McGregor||Tue, Jun 3, 2014, 08:47 PM|
BEIJING: President Barry Obama intends to fight Climate Change by imposing tougher regulations and force higher prices on Green Energy technology companiies.
The BBC News reports that, "The US has proposed higher and more extensive tariffs on Chinese solar panels. The Department of Commerce said it plans to impose duties of between 18.56% to 35.21%. That is much higher than the tariffs announced in 2012."
The Coalition for Affordable Solar Energy is quoted as saying that, "The ruling is a major setback for the entire US solar industry because it will immediately increase the price of solar power and cost American jobs in one of fastest-growing sectors of the US economy."
According to the BBC, "The duties will be levied on solar panels and the cells used to make them. Previously they covered just the cells. The US has said that import duties will help offset the subsidies given by China to solar panel makers."
More expensive Green Energy would likely boost the oil & gas industry.
To read the entire article from BBC News, link here:
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