Overview Economists have long argued that taxing oil consumption would be the most efficient way to address U.S. vulnerability to overpriced and unreliable oil supplies. Yet energy taxes are a thi…

This paper was written by Daniel Markey, a senior fellow at the Council on Foreign Relations, who handled the South Asia portfolio on the State Department’s Policy Planning staff from 2003 to 2007. I…

Introduction After months of roadblocks that seemed to signal the demise of South Korea's proposed emissions trading scheme (ETS), the South Korean parliament passed legislation establishing an ET…