Hot air scammers want a bigger guaranteed market for their shonky product. Go figure.
The European Union needs to aim for a deeper emissions cut soon, to rescue a record low carbon price and spur long-term investment in low-carbon technology, leading carbon market players said at an industry gathering.
Europe’s economic slump has made it easier for the EU to reach its 2020 climate goal, and a tougher target to cut emissions would restore relevance in the EU emissions trading scheme by lifting carbon prices from record lows, they said.
Europe’s stagnant growth has caused a massive surplus of so-called EU Allowances (EUAs), which are the instruments of compliance for more than 12,000 power and industrial plants taking part in the scheme.
The European Commission is preparing to propose in July measures to create scarcity in the market.Yet market participants fear intervention will fall short of fixing the problem.
“EUAs are like confetti at the moment,” said Mark Meyrick, head of the carbon desk at Eneco Energy, a sustainable energy firm in the Netherlands.
Without the EU deepening its 2020 target beyond a 20 percent cut in emissions against 1990 levels, there is little reason to expect the market to escape the doldrums, he told Reuters.
“The market is not going to crash radically from here with 7 euros to go, and we could be bumping along the bottom for a while.”
Analysts say the surplus will likely exceed an equivalent of 1 billion tons of emissions by the end of 2012, taking into account a healthy supply of U.N.-backed emissions offsets which can be used for compliance in the EU scheme.
There’s NO AGW. And if there WAS, the EU couldn’t AFFORD to fix it. But the EU WILL TAX whatever moves, and in those taxes, the Pols of the EU/U.N. see a way to scam & tax and tax & scam their citizens, so their continuence of their( Pol’s) JOBS can be assured because the Doles/govt. benefits will continue until the nations of the EU are completely and utterly broke, after which, MAYBE…the power of the Socialists will be temporarily broken. In fact, imo, if there was NO “Eco-issue”, the EU would do what it has DONE, which IS, INVENT “Eco-issues”…for which they can TAX & TAX, until they collapse. The Globalists (–BilderBORGers,–the remnants of the 4th Reich) need MONEY to re-build their underground bunkers, lately destroyed by ETs (–who will KEEP destroying them, because that’s the ONLY way to avoid the coming Nuclear-exchange–preventing the Intending Surviving Elites their chambers of Protection on the way to completely killing 95% of those they’re currently taxing to death, plus, 4-6 billion Red Chinese), will be stripped of their Fuhrer-bunkers, again and again, until the EU descends into the “Dust-bin of History.” or emerges as the foundation of the Islamic Caliphate. The USA is clearly headed in the same direction, so it’ll be the EU, “Broke” today, and, imo, the USA, tomorrow.