EU Emissions Trading Scheme Is A Failure
Wednesday, 17 August 2011 21:59 Matthew Sinclair, Public Service Europe
How much longer can European politicians keep the emissions trading scheme on life support?
The EU Emissions Trading Scheme is like a cargo ship stranded on a beach. Expected to play its vital part in an international carbon economy, it is grounded on the hard economic realities facing Europe. It sits there looking lonely and pointless thanks to the failure to secure an international deal. Instead of lucky locals picking over crates of consumer goods, there are big businesses and financiers making handsome profits at the expense of poor consumers. Instead of an insurer picking up the bill, families get higher electricity prices. Too many manufacturing workers play the role of the crew, and will be looking for a new job. (GWPF)
Despite the left-wing Fairfax rag, SMH trying to suggest there’s some doubt over change of Australian Government it’s a matter of exactly when, not if. The Left/Green/allegedly-Independent conglomerate administration will be obliterated at the next election and Australia will not have a CO2 emissions trading
scam scheme of any description.
Pollution permits out if we get in: Coalition
ELECTRICITY markets could be severely disrupted by the Coalition’s threat not to compensate generators for around half a billion dollars of forward-dated pollution permits set to be auctioned before the next election.
The Gillard government is proposing to auction 15 million forward-dated pollution permits in 2012-13, and electricity generators say they would like to buy 10 times more than that in order to nail down their carbon price liability as they enter into forward contracts with retailers and big industrial companies.
But the Coalition leader, Tony Abbott, has warned business the permits will be ”worthless” if he wins the next election, and the finance spokesman, Andrew Robb, said the Coalition was ”saying loudly that it is ‘buyer beware’ in relation to any advance auction of permits because if we are elected the scheme will be scrapped so there will be no market for them.”
The Coalition has vowed to repeal the carbon tax if it wins the next election even if it means holding a second double dissolution poll, but if the parliament runs its full term, the forward-dated permits will be one of a raft of problems in undoing the complex scheme. (Sydney Morning Herald)