After hitting record lows back in January, there was a plan to prop up the EU carbon market. That worked…for a while. Then the backloading plan was rejected, and the real market forces took over.
From: Environmental leader: EU Carbon Prices Plunge to Record Lows
Carbon prices hit record lows today after the European Parliament rejected an emergency plan to boost the ailing EU carbon market.
In a 334-315 vote, with more than 60 abstentions, lawmakers rejected a proposal to postpone — or backload — the auctioning of 900 million EU Emissions Trading Scheme allowances from the years 2013-2015 to 2019-2020. This measure was intended to rebalance supply and demand, and reduce price volatility.
European commissioner for climate action Connie Hedegaard said the plan will now go back to the Parliament’s environment committee for further consideration.
And more headlines:
Story here: http://www.environmentalleader.com/2013/04/16/eu-carbon-prices-plunge-to-record-lows/
Related articles
- Carbon in Worst Quarter Since 2011 Set for Rescue Vote (bloomberg.com)
- Why Europe’s Carbon Market is Crashing (businessweek.com)
As has already been said above – we note that Connie Hedagaard is sending the plan back for ‘further consideration’ – which is EU-speak for: ‘We’ll keep sticking this goddam proposal under your noses until you vote the RIGHT way, you b*st*rds…’
Also – ‘light at the end of the tunnel’ for the euro..? Yep – it’ll burst into the daylight and shatter into its original seventeen currencies..!
Posters are missing the point here, which is that the EU Commission which holds all the power doesn’t need to take any account of the market. They were not democratically elected, and the MEPs have no power at all.
Until the nations which form the EU elect parties which will secede, the Commissioners still hold all the power in Europe. It is they who make the laws, regardless of market forces – and they are still committed to the religion of CAGW with all its tax and political benefits to them.
This is not over yet, by a long way. The first requirement is for the real science regarding relationships (or lack of them) between CO2, solar and other influences, and natural climate variation to penetrate the skulls of the electorates and those tribal voters who vote for national parliaments which act against their own and their nations’ interests.
The MSM must do its part, and so must we all