This is my shocked face ...We are now two years into the second Phase of the EU Emissions Trading Scheme (ETS) and it is already clear that, like Phase I, Phase I I will fail to deliver significant abatement. ...Silly Think Tank - the point of the Carbon Market is to provide lucrative graft opportunities to Europe's Ruling Class, not to actually, you know, reduce carbon emissions. And not just Europe's Ruling Class. Mission Accomplished.
Even with an aggressive economic recovery, our projections find it unlikely that the Phase I I cap would constrain emissions by more than 32Mt across the full 5 years of the phase (2008-1 2), a meagre 0.3% of the 1 0.5 billion tonnes we expect covered installations to emit across the period.
Hat tip: Roger Pielke, Jr.
Carbon fuels are just too dense and portable and can't be replaced by anything else for a lot of applications. The effect of carbon tax schemes is always very little reduction in use and a huge increase in price.
ReplyDeleteAnd that price increase is the real point, not the claimed reduction.
Well said Alan. Add to it , the silly notion batteries have a place on the same playing field. That wind power has any real use or that solar will amount to anything short of a moon shot endeavor. IOW go nuclear or go carbon.
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