EU to prop up carbon market

EU x carbon market = (Collapse)2.

The Guardian reports,

European politicians are expected on Tuesday to vote through an amendment that could pave the way for direct intervention in the EU carbon market, which has sunk to record lows.

Businesses and environmentalists have heaped pressure on the European Commission to bolster the EU Emissions Trading Scheme. The bloc’s flagship tool for cutting carbon emissions greatly suffered under the burden of a sovereign debt crisis and oversupply, which the amendment would seek to address by reducing availability of allowances.

The current carbon price of less than €7 ($9) per tonne is regarded as too low to encourage investment in green energy. For that, prices would need to reach somewhere between €20 and €50.

“We have not voted yet, but I expect broad, cross-party support for the compromise amendment,” Dutch Green MEP Bas Eickhout. “A broad majority in the parliament is really concerned about what’s going on with the carbon price.”

The vote is not binding. If passed, it would require a further vote next year and debate by member state governments…

Read the Guardian report.

3 thoughts on “EU to prop up carbon market”

  1. If we are to feed the ever increasing population of our world, we will need all the carbon (CO2) we can get – or are there not any scientists out there who understand the basic building blocks of all life – photosynthesis!

  2. I would think they would be more concerned about the coming economic collapse and chaos that they’ve caused from drinking the green cool-aid.

  3. The EU wants to expand, and to DO that, they HAVE to offer something besides the “ego-trip” of being the EU’s next Hitler/Stalin. I imagine the EU will spread monies around to member states, from the Carbon-scam foisted on those members, but, with it being voluntary, I HOPE it, and the New “Greater-Germany” of the EU, (–but not Germany its-self), will come crashing-down. Just because the EU leadership collapses/EU itself, doesn’t mean the countries themselves, will. The EU NEVER should have been about governance along the lines they have taken, because those lines predicate failure. It’s just a shame we had to destroy ourselves/our currency bailing out the moronic Europeans, while they continue to flirt with Soviet-style Socialism,–a REAL, PROVEN, LOSER, but hey,–that’s the FOOL’s escapade that is Globalism!

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