Bad News for Cap and Trade Foes: Europe's Emissions Trading System WORKS

[Ptarmigan]

Bad News for Cap and Trade Foes: Europe's Emissions Trading System WORKS
by Brian Merchant, Brooklyn, New York  on 08.14.09
Business & Politics

It's one of the most common lines you hear from cap and trade opponents: "Well, just look at Europe." You see, the European Union Emissions Trading System was long thought to be a spectacular failure. It initially allowed utility companies to reap massive profits, since they were given their permits for free and passed the cost of carbon onto consumers--nearly the opposite of what was supposed to happen. Additionally, for a long time, many thought ETS would be sorely inadequate to get EU nations to meet their Kyoto targets, making the whole process a waste of time. Well, the days of bashing Europe's cap and trade are over--a new report reveals that despite its major stumblings, it's actually been a spectacular success.

According to Climate Progress, the report, Climate Policy and Industrial Competitiveness (pdf), completed by the economists, climate scientists, and academics of the German Marshall Fund, reveals that Europe's cap and trade has lead many countries in the EU to meet their carbon targets as agreed to in the Kyoto Protocol.

The trading system has created a healthy carbon market now worth 56 billion US dollars, and has reduced Europe's emissions by 50-100 million metric tons a year since 2005. In other words, the cap and trade has been responsible for Europe reducing its carbon emissions by 2.5-5% annually. Which is indeed a pretty impressive achievement. And the success has been largely due to the fact that the system's design separated its implementation process into 3 phases, so there would be pause for analysis and adjustment. This allowed policymakers to consistently reevaluate the system, and they were able to stop problems, like the aforementioned practice of sticking consumers with the cost of carbon.

Full Article

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Propaganda ALERT! Propaganda ALERT! Propaganda ALERT! Propaganda ALERT! It's from treehuggers.com. Well gees!

[RightCoast]

Great reducing emissions works and will continue - bring on the Ice Age.

[zeitgeist]

Bad News for Cap and Trade Foes: Europe's Emissions Trading System WORKS
by Brian Merchant, Brooklyn, New York  on 08.14.09
Business & Politics

It's one of the most common lines you hear from cap and trade opponents: "Well, just look at Europe." You see, the European Union Emissions Trading System was long thought to be a spectacular failure. It initially allowed utility companies to reap massive profits, since they were given their permits for free and passed the cost of carbon onto consumers--nearly the opposite of what was supposed to happen. Additionally, for a long time, many thought ETS would be sorely inadequate to get EU nations to meet their Kyoto targets, making the whole process a waste of time. Well, the days of bashing Europe's cap and trade are over--a new report reveals that despite its major stumblings, it's actually been a spectacular success.

{snip}

The trading system has created a healthy carbon market now worth 56 billion US dollars, and has reduced Europe's emissions by 50-100 million metric tons a year since 2005. In other words, the cap and trade has been responsible for Europe reducing its carbon emissions by 2.5-5% annually. Which is indeed a pretty impressive achievement. And the success has been largely due to the fact that the system's design separated its implementation process into 3 phases, so there would be pause for analysis and adjustment. This allowed policymakers to consistently reevaluate the system, and they were able to stop problems, like the aforementioned practice of sticking consumers with the cost of carbon.

Full Article

===================================================

Propaganda ALERT! Propaganda ALERT! Propaganda ALERT! Propaganda ALERT! It's from treehuggers.com. Well gees!

Thank you for sharing this bit of information, I feel compelled to add:

The 1637 collapse of the Dutch tulip market is considered history's first economic bubble.   - From The World Almanac 2009

OwlGore wants to control a similar market here IINM
 

[Peter3_1]

The article fails to note that this muliti trillion dollar effort has had no effect whatever on climate. The atmospheric carbon still increases as it has these last several million years 800 to 1200 years after a warming period as we were in 1200 years ago.

We all need CO2 in the atmosphere, without it, we all die.

[Gratiot]

The article fails to note that this muliti trillion dollar effort has had no effect whatever on climate. The atmospheric carbon still increases as it has these last several million years 800 to 1200 years after a warming period as we were in 1200 years ago.

It also fails to mention that the definitions being used, allow a manipulation of the marketplace.  Allowing obscene surcharges to be tact onto bills, with no actual changes being performed other than on paper.   

[DumbAss Tanker]

What was the unemployment rate in France and Germany BEFORE the crash again....?

 

[thundley4]

How's the green jobs thing in Spain that 0Bama keeps idolizing?  (wait, can a "Fatted Golden Calf Idol" , idolize something else? )

[Chris_]

It also fails to mention that the definitions being used, allow a manipulation of the marketplace.  Allowing obscene surcharges to be tact onto bills, with no actual changes being performed other than on paper.   

It also fails to mention how much the cost of fuel increased for the consumer when it became effective........

doc

[JohnnyReb]

Curb CO2 emissions........shoot a DUmmie.