Skip to comments.
Cutting Carbon: Is Europe’s Emissions Trading System Broken?
Der Spiegel ^
| Joel Stonington
Posted on 10/26/2012 11:49:46 AM PDT by Olog-hai
Europes carbon market is in deep trouble and its not just environmentalists sounding the alarm. Back in April, the CEO of Shell said that the European Unions system for trading allowances for the emission of greenhouse gases was in danger. But thats about as direct as anyone will get in this world of bureaucratese. Most simply talk of price weakness (meaning that emission credits are absurdly cheap), a desire for long-term policy certainty (the system needs a fix!) and the need to restore confidence (and the fix has to come fast!)
The simple fact is that the most important tool in Europes fight against climate change needs a major fix. When it was introduced in 2005, the idea was to make pollution expensive. And in the summer of 2008, the price for emitting a ton of carbon peaked at a price of around 30 (US$38.81). But the global financial crisis and ensuing economic downturn in Europe have taken their toll. Prices are currently hovering around 8 (US$10.35) per ton of carbon emissions, hardly the disincentive policy makers had hoped for.
(Excerpt) Read more at spiegel.de ...
TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: carbontrading; climatechangehoax; eussr; globalwarming; globalwarminghoax
How sad . . . they are discovering that kleptocracies cannot work. They could have learned from history instead . . . but thieves arent going to do that, are they.
posted on 10/26/2012 11:49:48 AM PDT
Carbon credits.....an abstract absurdity! Who would have dreamed that this scam could fail?
posted on 10/26/2012 11:55:16 AM PDT
("It's a Religion of Peace")
I had a whole retirement income stream, based on discontinuing my consumption of broccoli....
posted on 10/26/2012 11:58:16 AM PDT
by G Larry
(Which of Obama's policies do you think I'd support if he were white?)
What is broken, is the minds of the people who allowed this to be put into effect.
What we are witnessing is the TOTAL COLLASPE OF THE SOCIALIST DEMOCRATIC PARTY along with it's warped IDEOLOGY. This collapse has accelerated with the ELECTION OF THE FOREIGNER and the EXPOSURE OF THE AGW/IPCC CO2 fraud in the climategate emails. These events were like shining a spot light on these frauds exposing them like never before to the american people.
posted on 10/26/2012 12:00:36 PM PDT
It’s the whole EU that is broken!
posted on 10/26/2012 12:02:30 PM PDT
(Part of the Right Wing Research & Attack Machine)
That which is flawed from its inception cannot “break”.
posted on 10/26/2012 12:06:59 PM PDT
Like everything else, Carbon credits are now made in China
The linked story explains how Chinese companies are able to manufacture the equivalent of 11,000 tons of Carbon credits by creating and disposing of one ton of refrigerant gas.
Perverse incentives lead to perverse behavior. D'uh!
posted on 10/26/2012 1:38:25 PM PDT
To: Olog-hai; 11B40; A Balrog of Morgoth; A message; ACelt; Aeronaut; AFPhys; AlexW; America_Right; ...
posted on 10/26/2012 1:52:33 PM PDT
by Tolerance Sucks Rocks
(Obama should change his campaign slogan to "Yes, we am!" Sounds as stupid as his administration is.)
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson