Great, so will the US then also meet EU polution standards? Or does this rule only apply when you like it?
We don't even have a mechanism to deal with this within the US. I live in western New Hampshire, right by the big hydro power plant. Aside from a few automobiles, all of our air pollution comes from elsewhere (and we have lots of trees to absorb pollution so we're probably a net negative for pollution in this area). Yet, when the heat of the summer comes and the midwest cranks up their coal-fired power plants, the smog builds in, our visibility goes to crap, and I'm buying a new set of contact lenses every week (or just switching to glasses if it's bad enough :shudder:). The low visibility hurts our tourism, because there goes the 200-mile views from atop the hilltops, and I'm out-of-pocket for the contacts (and who knows what the long-term damage is).
But just imagine the laughter of the "judge" throwing out our small-claims court cases against each of those coal-burning plants if we try to recover our costs that we incur to ease their expense ratios.
To answer your question - the rules only apply in 'the system' when it privatizes the gains and socializes the costs. The government tells us this is "for the common good". To the GP's point - that's hardly a libertarian approach.