The whole notion of carbon emissions strategy is a proven nonsense,
but it still goes on. But it doesn’t even go on efficiently. The
b***s up illustrated here is typical of bureaucrats the world over.
They are inflexible, they won’t listen, they believe themselves
infallible and they don’t understand people! Rules to someone
running a company are a damned nuisance and their effect is
calculated to produce a reaction! It seems that European industries
have found a way to turn another restriction into an opportunity and
who can blame them?
Will the EU learn? No, of course not!
xxxxxxxxxxx cs
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PRIVATE EYE 1228 23.1- 5.2.09
but it still goes on. But it doesn’t even go on efficiently. The
b***s up illustrated here is typical of bureaucrats the world over.
They are inflexible, they won’t listen, they believe themselves
infallible and they don’t understand people! Rules to someone
running a company are a damned nuisance and their effect is
calculated to produce a reaction! It seems that European industries
have found a way to turn another restriction into an opportunity and
who can blame them?
Will the EU learn? No, of course not!
xxxxxxxxxxx cs
=========================
PRIVATE EYE 1228 23.1- 5.2.09
Brussels Sprouts
EU leaders “historic” climate change deal secured at the end of last
year in fact promises an ‘historic’ windfall profit-in-waiting for
some of Europe’s biggest polluters the Eye can reveal.
The windfall will be generated by the EU’s emissions trading scheme,
which caps the emissions of polluting heavy industry and requires big
firms such as steelmakers to buy extra emission allowances if they
pollute beyond their ‘cap’. However, up to the cap most allowances
are given to firms for free. If firms cut their emissions they can
sell any excess and make a profit.
This isn’t new, but December’s deal included an obscure deal that,
when combined with effective industry lobbying, is set to increase
the windfall to scandalous proportions.
Crucially, firms can bank allowances they currently receive for free
and hold on to them into the next phase of emissions trading. Until
now, the amount of free allowances given to companies has been
decided by individual governments. Subject to massive lobbying, not
to mention blackmail from firms that have threatened to relocate to
India or Ukraine, the emissions allowances have been overly generous
to heavy industry.
Take steelmaker Corus, for example. From 2005-2007, its carbon
dioxide emissions were around 26.5m tonnes. But for each year from
2008-2012 it has been given 34.5m tonne allowances - or a surplus of
32m over the four years (the surplus will probably be even more given
falling demand for steel in the economic downturn [“recession”,
“depression” or “slump” please -cs]
Corus just needs to sit on unused allowances until the next emissions
trading scheme’s next phase (2013-2020), when the emissions cap will
be tightened, allowances will be in shorter supply and the carbon
market price for a tonne of emitted carbon may have risen to, say,
€30 (it’s currently €3.50) . Then, hey presto, almost €1 billion for
free!
The surpluses given to steelmakers, cement firms and the like have
been counterbalanced by extremely stingy allowances for power
companies, who must go to market to make good the shortfall. But as
they can pass the cost directly on to consumers via higher energy
prices it means they won’t lose out either. Brussels claims
everyone’s a winner when it comes to fighting climate change - but
not if you’re struggling to pay a (rising) electricity bill.
= = = = = = = = = = == = = = = = = =
EUREFERENDUM BLOG 22.1.09 comments separately ----
Like everything else the EU touches in the real world, this has thus
turned out to be disaster. Nothing the EU ever does actually works,
and the sooner this is realised, the better. But, at least the low
price should stuff Brown nicely, and save us all a load of money.
The other joy is that those who have invested in carbon credits have
been well and truly burned. The credits are one of the worst
investments so far in 2009, falling more than almost any other energy
commodity or index of global stocks.
There is a God in heaven.
=========================
AND
MEPs nay have voted to protect against climate change but they’re
less keen to act when it affects their own expenses and travel perks.
An Open Europe campaign to save a further €203 m a year by scrapping
the MEPs’ monthly travelling circus between Brussels and the
Strasbourg parliament met with lukewarm results: only 268 out of 785
even voted , failing to reach the requisite number of 393 votes to
become official.
The trips, which see 3,000 staff and 15 lorries, carrying crates of
documents are estimated to generate 20,000 tonnes of carbon dioxide a
year (said by Green MEPs to equal 13,000 return flights from London
to New York) even though the parliament building is empty for 307
days a year. An online petition in favour of scrapping Strasbourg
was supported by a million ordinary voters. But who cares about
them ?
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