The EU “Carbon Price” was a major embarrassment and the EU Parliament has now weakened and propped it up.
The problem is that this will only exacerbate the EU recession because EU industry can only cut “emissions” so far because the existing “Renewables” do not work and the anticipated miracle new “Renewables” have not come along. “Energy Efficiency” is also limited. EU Industry is thus doomed to continuing recession and, ironically, an even more failing Cap-n-trade “Carbon Price”.
It is comical to “cap” and “trade” something that is declining already because they tried to “cap” and “trade” it unilaterally in the first place.
Aussies are tied to the EU price but don’t worry, the EU have just shot themselves in the foot yet again.
Western Decadence the Asians call it. The poor white trash. The former colonial masters who think that they still rule the world. They had to be slapped down on their Airlines Carbon Tax, but they still haven’t learned their lesson. The “Globe” is just not interested in the E.U. “Climate Change” revolution. The planet itself is mocking them.
Backloading and Credibility of European Climate Policies
by: Carlo Stagnaro
Posted date: July 05, 2013 In: Europe, Featured Articles
” …Finally, from the point of view of environmental policies, this vote should be a major reason of concern. It suggests that designing good mechanisms to achieve long-term results—which is supposedly the goal of climate policies—is less important than meeting short-run objectives, such as keeping the price of carbon high enough to please those that politics has picked as must-be winners. The short-run consequence of backloading allowances will be most likely to sustain prices, consistently with its objective. But its long-run effect might be that of killing the residual credibility of European climate policies.