From the GWPF:
Europe’s New Anti-Green Majority Scores Huge Victory EU Parliament Refuses To Save Its Dying Carbon Market
The European Union’s climate change policy is on the brink of collapse today after MEPs torpedoed Europe’s flagship CO2 emissions trading scheme by voting against a measure to support the price of carbon permits. The price of carbon crashed up to 45 per cent to a record-low €2.63 a metric ton (and later to €2.46 – Anthony), after the European Parliament rejected a proposal to change the EU emissions-trading laws to delay the sale of 900m CO2 permits on the world’s biggest carbon markets. –Bruno Waterfields, The Daily Telegraph, 16 April 2013
Given the manifest reluctance of the world’s big emitters to accept any legally binding carbon targets and in face of our deepening economic crisis, Europe should undertake a comprehensive review of its economically damaging carbon targets and — in the absence of an international agreement — should consider the suspension of all unilateral climate policies that threaten Europe’s economic recovery. –Benny Peiser, National Post, 25 November 2011
“The decision means the end of a European approach to climate policy.” –Felix Matthes, Spiegel Online, 17 April 2013
A vote against backloading will in effect be interpreted as a vote in favour of delay and inaction and be leapt on as supporting evidence by the climate sceptics who oppose any action on climate change on ideological grounds. –-Bryony Worthington, The Guardian, 16 April 2013
The European Union’s flagship program to fight global warming suffered a major blow Tuesday when lawmakers rejected a proposal aimed at shoring up the region’s carbon-emissions trading system, putting its survival in doubt. Germany’s Minister of Economic and Technology Philipp Rösler welcomed the rejection of the backloading plans as an “excellent signal” for an continuing economic recovery. –Sean Carney, The Wall Street Journal, 16 April 2013
The EU has been the global laboratory testing the green agenda to see how it works. Yesterday’s story means that the guinea pig died; the most important piece of green intervention in world history has become an expensive and embarrassing flop. It’s hard to exaggerate the importance of this for environmentalists everywhere; if the EU can’t make the green agenda work, it’s unlikely that anybody else will give it a try. –Walter Russell Mead, Via Meadia, 16 April 2013
EUROPE’S flagship environmental policy has just been holed below the water line. On April 16th the European Parliament voted by 334 to 315 to reject proposals which (its supporters claimed) were needed to save the emissions-trading system (ETS) from collapse. Carbon prices promptly fell 40%. Some environmentalists fear that the whole edifice of European climate policy could start to crumble. The real question now is whether the scuppering of the ETS will lead to the dismantling of the EU’s climate policies more generally. –The Economist, 16 April 2013
Tory MEPs are planning to defy David Cameron in a tense vote at noon on one of Europe’s flagship climate policies, the emissions trading scheme(ETS). Former Tory environment ministers Tim Yeo and John Gummer intervened on Tuesday, calling for the MEPs to vote in favour of the reforms. Yeo told Guardian partner EurActiv that Margaret Thatcher, who died last week, would have been in favour of the reform because she “favoured market mechanisms” as a way of addressing environmental problems. –Fiona Harvey, The Guardian, 16 April 2013
SWISS banking giant UBS says the European Union’s emissions trading scheme has cost the continent’s consumers $287 billion for “almost zero impact” on cutting carbon emissions, and has warned that the EU’s carbon pricing market is on the verge of a crash next year. –-The Australian, 23 November 2011
The unresolved question is policy on climate change. The Prime Minister has not spoken on climate issues since the election. Many Tory MPs share the scepticism of Lord Lawson about the science of global warming. Even more believe that the UK, which accounts for less than 2 per cent of global emissions is already doing enough – at a considerable short term cost to business and voters – while other countries are doing very little. For the moment the UK is sticking to its commitments within the EU, but resisting the idea of even higher target reductions. A open debate about climate change would be divisive (not least within the coalition ) and there is genuine uncertainty about public reactions. The denial of climate change did nothing to help the Republicans in the US. The conclusion for the moment therefore seems to be to let a sleeping dog lie. –Nick Butler, Financial Times, 15 April 2013
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Again, as I frequently point out when one of these markets dies, a 20lb bag of charcoal briquettes is worth more than a ton of EU carbon:
Readers may recall this from WUWT in 2009, still valid today:
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richardscourtney says:
April 18, 2013 at 4:09 am
Anthony:
This thread seems to be where the ‘thumbs buttons’ are being discussed. So, although off-topic, I provide my opinion.
I, too, want to be rid of them. In addition to all the reasons others have stated for removing them, I point out that they slow down and corrupt links to comments. This affect on the technical performance of WUWT is a nuisance. Richard
I agree.
@ur momisugly rilfeld says:
April 18, 2013 at 8:13 am
Mistakes will occur within anyones ambit. Incompetence in politicians leading to numerous mistakes with an amplified effect are a systemic and societal problem and responsibility.
Where that process of selection of people fit for this has been corrupted, that exists a an issue in itself.
The issue of direct personal culpability arises when any one individual is dishonest in appraisal or response to conditions that arise and then require, or don’t, implementation. They betray their duty, either as specified in a particular responsibility, or as an honest citizen within the whole, or both.
This is the issue with AGW. Not just for politicians, but for some “scientists”, media, and those associated with interested parties in this.
The immunity you speak of is, in the contemporary Western World, taken by the participants as being a reliable condition. It is not however. History shows that in a time of significant fracturing between those who influence, or seek to gain influence to implement controls detrimental to a society as a whole on the basis that it is of advantage to them, this immunity fails. There is an Accounting.
This division is becoming more apparent – to all – on a monthly basis. It is general in nature, but AGW makes up a significant and highly visible part of that. It is not just happening in Europe and the US, it is happening in China, India and other places: it affects the whole world.
This is the path the world is now inoxerably set on. How it plays out is highly uncertain. But one thing is unavoidable: there will be many who have assumed that their positioning makes them safe who will be wrong.
The existence of AGW as public policy is not a mistake. It is deliberate in intent and dishonest at base.
richard verney says:
April 17, 2013 at 4:46 pm
The UK system is a TAX not a credit based scheme. The wonderful thing about that, (for the gubmint,) is that they then stick VAT on top of that & guess who pays…
Pensioners like me is who!
Barstewards!
DirkH is right. Germany designed Kyoto for their own benefit.
After re-unification, all they had to do was follow the path they were already going to, ie shut down inefficient East German plant and replace with new, to conform to the treaty.
DaveE.
SWISS banking giant UBS says the European Union’s emissions trading scheme has cost the continent’s consumers $287 billion for “almost zero impact” on cutting carbon emissions,…
The greedy politicians and the sanctimonious believers in AGW have forgotten the fundamentals of the human experience! Using a dollars worth of carbon briquettes and a handful of hardwood chips to grill a 1.75 inch thick T-bone Steak to medium rare perfection represents a greater value to consumers, regardless of what continent you are on! And those aromatic carbon emissions from your grill will have your family running for the dinner table, in salivary anticipation of gastronomic delights! Yum!
Grilled Food: It’s what’s for supper!
MtK
Carbon bubble will plunge the world into another financial crisis – report
http://www.guardian.co.uk/environment/2013/apr/19/carbon-bubble-financial-crash-crisis
Trillions of dollars at risk as stock markets inflate value of fossil fuels that may have to remain buried forever, experts warn
Ben D. says:
April 18, 2013 at 5:13 pm
Carbon bubble will plunge the world into another financial crisis – report
http://www.guardian.co.uk/environment/2013/apr/19/carbon-bubble-financial-crash-crisis
Trillions of dollars at risk as stock markets inflate value of fossil fuels that may have to remain buried forever, experts warn
I see Lord Stern has not recovered from stupid
China, India and Germany are all going to fossil fuels and Australia and Canada are happily supplying them. I would agree that Stern is in a carbon bubble – but it is one of his own manufacture.
Rhoda R @ur momisugly April 17, 2013 at 2:02 pm has it correct this vampire isn’t dead until the stake is driven through its heart. There is too much money and political power involved to just let it die.
When at first you don’t Succeed, Try Try again
From Yesterday:
You can get rid of the thumbs by using a script blocker such as NoScript (for Firefox, may work on other platforms) and blocking polldaddy.com and poll.fm. WUWT pages then load at their old speed.
“Carbon tax” / “Carbon trading” is a smoke screen for merely charging for a use of the air as one not overburden with theories but the common-sense hands-on engineering had written already (for instance, 1.Submission on Carbon Tax to the Australian Government 2.Modern Epoch Air Trading: a Will for Triumph and a string of other Web-publications).
It looks aka these-days-implementation of pre-Dark-Ages feudals’ dreaming of ripping off ill-educated (if at all) peasants much more.