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| International-UN-NGOs |
| Hot air bubble bursts (Kyoto) |
| 2006-04-27 |
| This is interesting. Reading between the lines. It looks like several things are happening. Energy intensive industries are moving to places where there are no CO2 emission limits. Governments are cheating. Energy consumption is shiting toward sources that aren't measured under Kyoto. More generally it throws economic growth figures into doubt. Increased economic activity may just be more work to achieve the same outcome(output) as a result of Kyoto. Carbon credits for December 2006 delivery fell below 14 euros ($17.40) on the European Climate Exchange -- less than half a high of 31 euros last week. Prices recovered to 16.70 euros by the market close. "From a market perspective it's terrible news," said James Emanuel, Head of Carbon Trading at brokers CO2e.com. "If there's a (net carbon credit) surplus there's no incentive to reduce emissions and the (carbon) price collapses. It won't go to zero, it would effectively go down to the administrative cost of the scheme... it could be 1 euro, who knows?" Go RTWT |
| Posted by:phil_b |
| #5 "Energy intensive industries are moving to places where there are no CO2 emission limits. Governments are cheating. Energy consumption is shifting toward sources that aren't measured under Kyoto." Well, duh! Particularly the "governments are cheating" part. In other news, water is still wet. |
| Posted by: Barbara Skolaut 2006-04-27 20:45 |
| #4 Enron's Ken Lay was one of the most enthusiastic proponents of Kyoto. He stood to make his fortune fifteen times over with global energy credit trading... |
| Posted by: Seafarious 2006-04-27 20:10 |
| #3 European Climate Exchange---Whatta joke! Typical bureaucratic scheme. Thought it through, but the smart people will always find the weakness of the Kyoto Car-bohn Credits scheme. It went through the signatories because it felt good. Not because of good science. Let it die a quick death and maybe the world can get on to business that makes sense. |
| Posted by: Alaska Paul 2006-04-27 19:28 |
| #2 I think you mean "shifting toward sources" not "shiting". But this just reinforces what I have always believed that Kyoto is nothing more than a Ponzi scheme to transfer wealth. What the Schemers didn't count on was the US not joining and energy intensive industries moving to 3rd world countries. Bugwits. |
| Posted by: Deacon Blues 2006-04-27 19:15 |
| #1 Should move some of these industries to OZ and the US. |
| Posted by: 3dc 2006-04-27 18:47 |