QUITO, ECUADOR -- (Marketwire) -- 12/03/12 -- BluForest Inc. (OTCBB: BLUF) (OTCQB: BLUF) ("BluForest" or the "Company"), an emerging leader in the field of Carbon Trading and Renewable Energy notes that President Obama is still committed to reducing carbon energy in light of his signing a recent bipartisan bill vetoing a European Union carbon tax levied on US Airlines flying to Europe.
Charles Miller, Chief Executive Officer and Director of BluForest, Inc., stated, "BluForest believes that President Obama will continue to work towards reducing reliance on carbon energy sources during his second term in office, despite his signing of a bipartisan bill that vetoes an E.U. levied carbon tax on US Airlines flying into Europe. We at BluForest believe that this recent bill signing is to protect US Carriers by keeping to the existing protocol of a multilateral forum for international aviation issues."
President Obama has said he's going to continue his crusade against carbon energy in a second term. This is despite his Tuesday signing a bipartisan bill shielding U.S. airlines from paying a carbon tax merely for flying to Europe.
The European Union imposed its scheme to tax foreign airlines this year. This tax had ignored the usual multilateral forum for dealing with international aviation issues. The move drew a furious reaction from China and U.S. airlines, which estimated the tax would cost them $3.1 billion through 2020. The costs would be passed along to airline passengers.
In September the Senate passed by rare unanimous vote a bill directing the Transportation Secretary to protect U.S. carriers from the air tax if he deems it necessary, and the House followed upon returning after the election.
"The Obama Administration is firmly committed to reducing harmful carbon pollution from civil aviation both domestically and internationally," said a White House spokesman on Tuesday, but "the application of the EU tax to non-EU air carriers is the wrong way to achieve that objective."
The basic principle underlying all proposed REDD (Reducing Emissions from Deforestation and forest Degradation) mechanisms is: Funds are provided to developing countries for reducing emissions from deforestation or forest degradation. The respective countries have to implement policies and programs which reduce deforestation and forest degradation. Any approach that reduces deforestation and degradation could in theory be applied. Some possible examples for such measures are: governments strengthen law enforcements, have better fire management and practice sustainable forest management or change laws to stop large-scale logging or forest conversion activities like plantations. What this means is that under REDD schemes new kinds of "carbon protected areas" would be created over large areas of forests, with the main objective to cut CO2 emissions by avoiding deforestation and degradation of these forests. In the REDD Market the standard unit of value and measure is: 1 Carbon Credit = 1 Ton of Carbon.
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