Skip to comments.Delingpole: Coronavirus Is Killing the European Unionís Carbon Trading Market
Posted on 04/08/2020 10:56:22 AM PDT by rktman
Finally, some good Coronavirus news: the pandemic has caused the collapse of Europes carbon trading market.
According to Recharge News:
The Covid-19 pandemic has turned Europes carbon price upside down, with prices dropping by 40% since early March when they were still trading at about 24 ($26) per metric ton, analyst IHS Markit said.
The current trading levels of between 16-18 per metric ton are roughly two thirds of the level of the high of 2019 of 29 per metric ton.
This is a perfect storm for Europes carbon market, and it may well lead to some challenging questions about its role in Europes decarbonisation strategy once the COVID-19 crisis has passed, said IHS Markit director Coralie Laurencin.
The collapse of the carbon trading market is, of course, an entirely predictable consequence of the Europe-wide slump caused by government lockdown policies. Even before the lockdown, trade unions in Europe were warning that the EUs proposed Green Deal would endanger 11 million jobs. Post-Coronavirus, ostentatious greenery looks like a luxury that not even the profligate, socialistic EU can afford.
When businesses are in trouble one of the first things they do is seek to slash unnecessary costs. And what could be more unnecessary than a levy imposed on business which serves no useful practical purpose except as a form of state-orchestrated virtue-signalling designed to show concern about climate change?
(Excerpt) Read more at breitbart.com ...
Good news at Breitbart?!
Perhaps they’re setting up to cash in on another “mini” market crash.
Best news I’ve heard this week.
Alas for a nearly perfect scam. People claiming fictional authority selling their permission to do what you’re going to do anyway. As con games go, that’s genius.
Where is the little Swedish dwarf?
Good news alert.
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