Skip to comments.Carbon trade scheme 'is failing' / Biofuels 'will push up oil price'
Posted on 06/06/2007 7:21:39 PM PDT by CutePuppy
Carbon trade scheme 'is failing'
Tuesday, 5 June 2007
By Julian O' Halloran
BBC File On 4
The EU's carbon trading scheme has increased electricity bills, given a windfall to power companies and failed to cut greenhouse gases, it is claimed.
An investigation by BBC Radio 4's File on 4 programme has found that after two and half years the scheme has yet to cut in carbon dioxide emissions.
The consumer body Energywatch said customers are getting a raw deal.
But a government minister has promised that the scheme's next phase will be a big improvement.
The EU's Emission Trading Scheme - a key part of the UK Government's drive to combat climate change - began in 2005 and created a trade in carbon allowances.
It is essentially a permit to pollute.
Power generators received their allowances free of charge but were allowed to reflect the value of those in increased prices to customers, as if the companies had actually had to buy the allowances.
Energywatch believes this increased electricity bills by about 7% in 2005.
And according to one government estimate, that delivered windfall profits of up to £1.3bn to the generators in that year - higher than environmental campaigners had claimed last year.
However, so far the carbon scheme has brought no clear payback in terms of cutting emissions.
Provisional government figures from the Department for Environment Food and Rural Affairs (DEFRA) suggest CO2 output in Britain actually went up, by 1.25% last year wiping out a slight drop of 0.01% in 2005.
It is also reckoned that CO2 emissions across the EU also rose by between 1 and 1.5% over the last two years.
The chief executive of Energywatch, Allan Asher, said , "Consumers increasingly accept the need for reductions in carbon.
"However they are paying the price and not seeing the benefits. The big generators are banking huge amounts of money and consumers aren't benefiting."
But the Minister for Climate Change, Ian Pearson, told File on 4 that the carbon trading scheme has been an administrative success yet concedes there have been problems in the first three year phase to the end of 2007.
"If you are saying to me it hasn't achieved a massive amount so far when it comes to CO2 reductions, well I agree with you and I think Phase Two will be a big, big improvement...and a key instrument in helping us all to achieve our carbon reduction targets across Europe."
File On 4 is broadcast Tuesday 5 June 2007 at 2000 BST and repeated on Sunday 10 June 2007.
Biofuels 'will push up oil price'
Wednesday, 6 June 2007
The chief of the Opec oil cartel has warned that investing in biofuels could push oil prices "through the roof", the Financial Times has reported. Opec secretary general Abdalla El-Badri said moves to use biofuels would make his members consider cutting investment in new oil production, the FT said.
President Bush says the US will cut petrol use by 20% in 10 years, partly through increased use of biofuels.
Opec members control about 40% of the world's oil production.
Mr El-Badri said that while Opec members had so far maintained their investment plans, he added: "If we are unable to see a security of demand... we may revisit investment in the long term."
The warning comes as leaders of the G8 industrialised nations gather for their summit in Germany.
Environmental issues are high on the agenda and the use of biofuels is central to the attempts of many G8 countries to cut their carbon emissions.
Biofuels can be anything made with vegetable matter that burns. They can be used to replace some or all of the petrol used in vehicles.
Call 1 800 WC Fields NOW!
Oh kinda like products made from crude oil?
Energywatch believes this increased electricity bills by about 7% in 2005.
LOL, it's a freeking TAX. Maybe they should call it a fee like Arnold tried.
They're charging more money and it didn't help, so we'll charge you
more money because it will work this time. Sounds familiar..
In a related story, the Sun will come up in the east, the Pope's Catholic, and bears s___ in the woods.
Charging businesses and individuals a price to emit carbon dioxide (CO2) is essential to reduce U.S. emissions quickly and steeply enough to prevent atmospheric concentrations of CO2 from reaching an irreversible tipping point, says a website called the Carbon Tax Center.
The transformation of our fossil fuels-based energy system to reliance on energy efficiency, renewable energy and sustainable fuels wont happen without carbon taxes sending the appropriate price signals into every corner of the economy and every aspect of life.
The Carbon Tax Center was launched in January 2007 to give voice to Americans who believe that taxing emissions of carbon dioxide — the primary greenhouse gas — is imperative to reduce global warming.
The website offers some dire predictions: Hotter summers are the least of whats in store for humanity. Destructive storms, inundation of coastal regions, decimation of food chains, spreading disease, economic devastation, warfare and massive migrations of humans and other species are all virtual certainties in the lifetimes of most people now living, unless the world makes sharp cuts in greenhouse gases.
(SOURCE: Carbon Tax Center)
I don’t know why you have to “BUY” carbon credits. I can just make up my own and print them off on my computer. I printed up a bunch so I can claim to be carbon neutral for the next 20 years. The problem is that I printed them all at once. It is snowing right now in the Colorado Rockies. I think I should have printed out those Carbon Credits a little at a time instead of all at once. I may have created a Carbon-Free bubble over Colorado that will kill the trees from lack of CO2 and probably bury us under a mile deep ice sheet as the rest of the world bakes under global warming.
And the rush to produce biofuels such as ethanol will make the products such as foodstuffs to increase in price. Ethanol is also used as feedstock in brewing operations, so expect the price of beer to rise.
Three words — plasma waste disposal. Oh, sorry, wrong topic.
Well, you can SELL some of your carbon credits and save Colorado. I understand that some guy named Al Gore has a company that is BUYING these. But hurry, there is not a lot of time left.
My only question is that did anyone here have the slightest doubt that this would not be the case? Socialism under any guise always spells economic disaster. It's like constantly touching that glowing electric stove element to make sure that it's still hot.
Therefore, we need a quick transition to a fuel that will fuel 100% of our needs.
The good news is that the islamofascists sound worried.
If Bush had said these words they would call it fear mongering.
At least it's easy to dispel the hype.
Where did you get that information?
U. S. Operable Crude Oil Distillation Capacity (Thousand Barrels per Day)
2000 - 16,525
2001 - 16,581
2002 - 16,745
2003 - 16,748
2004 - 16,974
2005 - 17,195
2006 - 17,384
2007 - 17,462
There have been no new refineries but oil companies are expanding and upgrading the existing ones.
The OPEC comments are really a warning.
In 1986, Saudi Arabia decided to open the taps and flood the world market with cheap oil. They did this ,in part, to punish other OPEC members who were cheating on their quotas but also to punish investors in the West who were putting new investment into oil production in Texas/Oklahama, the North Sea, the oil sands and investors who were putting money into new energy sources like nuclear power.
In 1986, oil prices crashed from about $28 to as low as $8 per barrel as a result of the Saudi’s actions causing huge losses for those investing in the new energy sources. This slowed new investment for many years as investors have a long memory when it comes to losing big bucks.
They are now warning the ethanol industry and the oil sands investors or, more accurately, the governments pushing those investments. In essence, they are saying slow down or we will turn off the taps this time and cause huge increases in oil prices and punish the economies of the West.
New!!: Dr. John Ray's
Ping me if you find one I've missed.
Not to worry, since the excess carbon credits you printed off made it snow and kill the trees, the CO2 will build back up real fast. I’ll bet the snow will melt very soon and be it’ll be twice as hot! ;)