Posted by: Grant | April 23, 2013

WTF Is The EU Carbon Market?

~meIt’s the trade part of their “Cap-n-trade”

Cap-n-trade is an attempt to save the planet from “carbon pollution” by massive regulation.

The fact that the EU is only a small part of the planet does not deter them.

The fact that the old Kyoto protocol has died and all the international conferences have degenerated into high farce has not deterred them. They just love massive regulation so much they will regulate just for the sake of regulating.

All the companies that the EU control were given carbon permits which are supposed to be capped. They are meant to buy any additional permits that they need on the Carbon Market.

It all went horribly wrong straight away when they gave out the permits on the top of the market. A recession came along and the market was flooded with unused carbon permits.

It degenerated into high farce when companies were permited to buy carbon indulgences from third world countries.

Energy intensive industries went to China or simply went broke and all their permits flooded the market. It was a final incentive to move on to a cheaper environment.(‘scuse the pun)

Australia flirted with Cap-n-trade in the infamous (for Malcolm Turnbull) CPRS – carbon pollution reduction scheme – which morphed into the Carbon Tax. The Carbon Tax is now, cowardly, based on the EU carbon market. That’s good if you’re a government that needs to pay lip service to greenies while facing an increasingly dubious public, or if you’re a company struggling to survive in a global market, but it does absolutely nothing to reduce human carbon dioxide output, nothing.

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