The European Union’s Emissions Trading Scheme was doomed from the start. I have always held that you cannot use the devices of the casino to reduce emissions. You can tax emissions, making them more costly to produce and creating an incentive to encourage ways of using clean renewable emissions, but to set up a system where emission producers can speculate on the price of carbon dioxide, which is a commodity that no one wants and no one can use, as a way of reducing carbon dioxide emissions, will make no difference to the amount of greenhouse gas emissions that are produced. (more…)
Filed under: carbon emissions, climate change, energy, global warming | Tagged: backloading, carbon credits, carbon dioxide emissions, climate, climate change, emissions trading, emissions trading scheme, environment, ETS, EU ETS, global warming, greenhouse gas emissions | 2 Comments »