Warning Over ‘Dead’ EU Carbon Market

Here in Australia we have a Labor government hell bent on destroying the economy with a Carbon (dioxide) Tax, which will come into being in July 2012. The starting price? A whopping $23 a tonne. Our Dear Leader, in all her non-wisdom, has pandered to the Greens (to get their vote to stay in government) and back-flipped on her pre-election promise not to impose a carbon tax. Within weeks, she flip-flopped and betrayed the voters – all to save her first-female Prime Minister neck. She is now rightly languishing in the polls and her party faces a wipe-out next election. When she did her gymnastic back-flip, she justified it by saying that everyone around the globe was acting on Global Warming; apparently the entire world was just waiting for Australia to implement a tax so that they could follow in the lunacy (yeah right). Gillard even used the EU carbon trading as justification to implement a nation-wide CO2 tax – the first in the world. To put this in perspective, this is how much carbon ‘polluting’ Australia is responsible for: 1.5% of the 3% man-made carbon dioxide. Take a room 3x3x3 and put a corn flakes box in the corner – that’s Australia’s contribution and we are going to lead the world by reducing that corn box by 5% and save the world from warming! That’s how stupid this government is. Today we’re told that the EU trading scam is ‘dead’, as prices for their permits have tanked. Buy hey, Australia will save the planet so no worries mate. Already our economy has slowed on the CO2 promise. People aren’t spending in fear of what they’re going to be hammered with in July. And then this stupid government comes up with the most fantastic way to get some support for their scam – give poor people compensation in their taxes each year to cover the increase in living costs – they razzle and dazzzle people with money, and then the media sing from the same song sheet in support! Bugger the middle class and the well off. No, the poorer amongst us apparently don’t pollute, so the better off get to pick up that tab too. In fact, this stupid government has even gone so far as to crow that the poorer will in fact be better off once the scheme comes into effect. Really? So, to stop CO2 ‘pollution’ they’re going to hammer business and the better off, to give the money to the less successful so they can increase their wealth – for free. If people can’t see this as redistribution on a grand scale, then they need to grow another brain. I’m not that stupid or gullible but apparently Labor needs to buy votes for their failed policies, over and over and over. And the media lap it up…….

Europe’s largest employers’ group has warned against meddling in the carbon market to prop up sagging prices, just a day after one of the continent’s top energy executives declared the market “dead” and demanded urgent intervention to save it.

In a letter to parliament released on Wednesday, Philippe de Buck, president of BusinessEurope, warned that moves to withdraw carbon permits from the market to bolster prices “would, if implemented, create further uncertainty and price volatility, and establish a risky precedent of rapid political interference in the market”.
Mr De Buck, whose constituents have struggled to forge a common position on the issue, said he wanted “an open discussion … about the general climate policy framework and the longer term future” of the carbon market.
In December, the European parliament’s environment committee approved a resolution calling for the removal of more than 1bn surplus carbon permits from the market in an effort to shore up prices. The industry committee will vote on a similar measure at the end of this month.
Other elements of corporate Europe, particularly heavy industry, argue that such meddling would make a mockery of the market.
Johannes Teyssen, chief executive of Germany’s EON, urged policymakers to make fixes. “Let’s talk real: the ETS is bust, it’s dead,” Mr Teyssen said in Brussels this week, adding: “I don’t know a single person in the world that would invest a dime based on ETS signals.”
These views reflect a sharpening debate within Europe about the future of the market – known as the European Union emissions trading scheme – that is the cornerstone of the bloc’s ambition to lead the fight against global warming.
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About limelite001

This is my tribute to highlighting the hyposcrisy in the left and racial world...

Posted on 11 February 2012, in Uncategorized. Bookmark the permalink. Leave a comment.

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