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Germany

What Volkswagen Can Learn From Toyota About Ruthless U.S. Regulators

There are billion-dollar fines, but the humiliation is what really hurts the bottom line. This is the lesson VW faces amidst the emissions scandal snowballing in the U.S.

VW, Uncle Sam's coming after you next
VW, Uncle Sam's coming after you next
Thomas Fromm

MUNICH — The car industry knows how unpleasant legal problems in Europe can be. And yet, somehow, they always seem to find a way of getting resolved. In the United States, such matters are handled differently. Very differently.

For starters, there are the penalties. The current fraud scandal around falsified auto emissions may cost Volkswagen up to $18 billion and has already forced the resignation of CEO Martin Winterkorn. Add to that huge number billions more from recall costs and potential claims of recourse from disappointed clients and shareholders.

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Economy

The Bogus Concept Of "Carbon-Neutral" Oil

The Colombian president recently said that the country had exported one million barrels of carbon-neutral or offset oil. But in an unregulated carbon market, such a claim is pure greenwashing.

People walk in the streets of Bogotá

María Mónica Monsalve Sánchez

-OpEd-

BOGOTÁ - In March this year, various national and corporate leaders met in Houston, Texas, for CERAWeek, an annual conference to discuss the world's energy challenges. Colombia's President Iván Duque took the opportunity to remind participants that his country produced just 0.6% of the world's carbon emissions even as it had raised crude production to one million barrels a day.

He said oil should not be seen as an enemy, since the fight was really against greenhouse gas emissions. He also revealed at the event that the country's national oil firm, Ecopetrol, had sold the Asian market its first million barrels of carbon-neutral or offset crude, consisting of the entire extraction, production and exportation chain.

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