Thursday, June 14, 2007

The EU's Carbon Trade: A Scheme and a Failure

The government's own figures show an increase in greenhouse gases
Photo courtesy of BBCNews
"The EU's carbon trading scheme has increased electricity bills, given a windfall to power companies and failed to cut greenhouse gases, it is claimed."
How refreshing to see a major newspaper (true, it's in Britain, but still...) put a headline out there saying exactly what it means.

After 2-1/2 years, the BBCNews says the "EU's Emission Trading Scheme" is:
"...essentially a permit to pollute."
A consumer watchdog, Energywatch, claims customers are getting "a raw deal" and then, no big surprise here:
Power generators received their allowances free of charge but were allowed to reflect the value of those in increased prices to customers, as if the companies had actually had to buy the allowances.
According to this report, CO2 emissions went up by 1.25% last year:
...wiping out a slight drop of 0.01% in 2005.
0.01%!!!! and...Energywatch believes consumer electricity bills increased by about 7% in 2005.

Britain isn't the only failure:
It is also reckoned that CO2 emissions across the EU also rose by between 1 and 1.5% over the last two years.
But some have their own way of measuring the success of this "scheme:"
...the Minister for Climate Change, Ian Pearson, told File on 4 that the carbon trading scheme has been an administrative success...
"Administrative success...," spoken like a true Bureaucrat...that would be the Minister for Climate Change.

This BBCNews report used the word "scheme" at least 6 times in this short report.

Article End.
Posted by Maggie

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