The news from Reuters Point Carbon today is not good:
Germany unlikely to form CO2 backloading position before Sept: Ireland
22 Apr 2013 11:22 Last updated: 22 Apr 2013 13:03
DUBLIN/LONDON, April 22 (Reuters) – Germany will unlikely vote for or against an EU emergency plan to prop up carbon prices before the nation’s federal election on Sept 22, Ireland’s Environment Minister and chair of EU talks on the matter Phil Hogan said Monday, raising the prospect attempts to fix the EU’s carbon market could drag on.
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EU carbon sinks below 3 euros as record supply looms
22 Apr 2013 18:11
LONDON, April 22 (Reuters Point Carbon) – EU carbon allowances dropped more than 10 percent to below 3 euros on Monday as traders braced for record supply from government auctions this week.
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Two men jailed for running $9 mln UK carbon credit scam
22 Apr 2013 12:45
LONDON, April 22 (Reuters Point Carbon) – A London court has jailed two men for operating a carbon credit boiler room scam that defrauded hundreds of British investors of $9 million to fund lavish lifestyles in Spain, City of London Police said on Friday, concluding a three-year trans-Atlantic investigation.
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Source: http://www.pointcarbon.com/
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auto says: “In English English, at least, ‘to fix’ has at least two distinct meanings.
To fix – to repair [as of a car or a clock, perhaps]
To fix – to ensure the outcome of a nominally for-chance event is as you [or your oppressors] would wish [as of a football match, a horse race, an election, etc.]
So – “attempts to fix the EU’s carbon market ” – may we great unwashed inquire which definition of ‘fix’ is implied?
I’d hope that it’s neither of the above, but: 9. To spay or castrate.
Germany will unlikely vote for or against an EU emergency plan to prop up carbon prices before the nation’s federal election on Sept 22 …
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Im not German but after paying 180 billion Euros to delay fake global warming by 45 minutes (Solar / Wind).. Its best to keep any future green investment under wraps until after the election..
Its not like its a important issue.. right.
Chuck Nolan says:
April 22, 2013 at 2:36 pm
le rechauffement climatique.”
That’s French for global warming
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I’m not up on French.
Which word is global and which word is warming?
The closest I can get is the reshuffling climate.
Whatever that means?
Rechauffement = reheating
Climatique = climatic.
French like English has words with many different meanings and because there are fewer words in the French language there are more words with multiple meanings.
azleader says: “… with only 15% of CO2 emitters required by international law to do anything, it wasn’t working anyway.”
Azleader, that is not technically correct. International law ended the Kyoto commitment on the 31st December 2012. There was legally no way to continue it, as no suitable amendment was made available by the deadline date. So according to international law, there is no current commitment to anything.
However, there was a vote at Doha on text which cannot technically be valid under the Kyoto Protocol. This was an extra-Kyoto “agreement”. It is about as valid as a person agreeing to take speeding points for another. It is an agreement, but it was outside international law because the vote was against all the rules and regulations of the Kyoto treaty, which required the text of the amendment to be made available
This may sound a pedantic point – but the whole point about law is that, is that it informs people what they can and cannot do. Therefore when the date for an amendment passed in Oct 2012. it was quite reasonable for everyone to behave ACCORDING TO INTERNATIONAL LAW and e.g. stop investing on the basis that the treaty had ceased functioning.
But no, they decided at the last minute to pass a resolution stating the treaty was continuing. In other words they passed an illegal resolution.
This has huge ramifications because now not only can ignore the time limits etc., saying it will all continue, but equally they could just as easily turn around tomorrow and say “it’s all up … we are stopping it today”. This is an investor’s nightmare. You simply cannot invest money under Kyoto without a severe risk of it all being changed as a last minute thought when they meet again.
Indeed, they may even suddenly decide (realise) it was all illegal anyway and call the whole thing off.
All we do know is that we are in the “no mans land” of international law. The current commitments are neither legally enforceable, nor can they be entirely ignored.
Alan Watt, Climate Denialist Level 7 says:
April 22, 2013 at 2:31 pm
“Does this mean a vote of any kind will not take place before Sept 22, but will happen sometime after that? If so, does this mean anything other than the current government does not want to go on record either way before elections? The translation of that is whatever they plan to do, they don’t want people to know about it.
I’m not at all sure what this might mean in terms of a policy shift.
Some insight from German residents please?”
The established parties are all Green parties; all gung ho on taking as much money as possible from the population under the pretense of saving the planet, and will act accordingly AFTER the election; at the moment, any announcement BEFORE the election that more money is required would be disastrous for the announcing party, so the seven established parties dare not utter a word; a kind of Mikado.
The new AfD is under no such constraint; therefore Der Spiegel and other media do their very best to smear them as right wing extremists.
The EU’s ETS is a market-based mechanism. If it needs propping up, it is anything but a market-based mechanism. The idea of an EU emergency plan to prop up carbon prices is as repulsive as a similar suggestion to prop up company share prices on a stock exchange.
It was called the “carbon-trading shell game” …
http://harpers.org/archive/2010/02/conning-the-climate
” … the carbon market is based on the [unverifiable] lack of delivery of an invisible substance to no one. … “
“Fix the EU carbon market ” seems to be the operative phrase. Is a “fixed” market truly a market?
It a fixed market a true market?
Maybe not, but if you fix a market properly, it can’t reproduce itself.