Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

EU Carbon Credit trading takes a dive. In Greece, they can’t hardly give EU carbon credits away

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Watts Up With That?
June 26, 2011

CO2 tumbling down

EU Carbon Credit trading takes a dive. In Greece, they can’t hardly give EU carbon credits away BNS%2BEUA%2B08 12EU Carbon Credits via Bloomberg -BLUENEXT – BNS EUA 08-12 (phase 2) (PNXCSPT2:IND) – click graph for report

Once upon a time, carbon trading was supposed to be the salvation for Earth’s climate problems. But as time went on, people started realizing that something was wrong. As usual, financial markets anticipated the move. Late last year, US carbon trading crashed. Two weeks later, it closed.

In Europe, the price of CO2 emissions even flourished earlier this year. The European Union pushed for stronger policies towards renewables. And Fukushima pressed German’s chancellor Angela Merkel to abandon nuclear, with some imagining that renewables would fill in the gap.

Last week, Greece started auctioning their EUAs (European Union Allowances). They need the money, and probably other countries will follow, including Portugal. But they were not that lucky! Of the 1 million permits, only 6000 EUA were sold. The reason: nobody is buying…

In the meantime, Poland has blocked an EU deal on CO2 emissions. They are the largest producer of hard coal in the EU, and the share of coal in electricity generation (92% in 2004) is the highest among the EU Member States. They are also pushing for shale gas. The result for them: the biggest GDP growth in 2009 and the third in 2010, amongst the 27 European member states.

Finally, Yvo de Boer has confirmed what everyone knows: the Kyoto Protocol is dead!

  • A d v e r t i s e m e n t

The result: This week, Bluenext‘s EUA phase 2 2008-2012, went tumbling down. It closed at 12.21 €, down from 15.41 € a week before, a 20% drop in a week! And after all, carbon markets are not actually helping to combat global warming and climate change, and are open to the kind of speculation and fraud that led to the global financial crisis of 2008…

EU Carbon Credit trading takes a dive. In Greece, they can’t hardly give EU carbon credits away 030511banner3

Stock up with Fresh Food that lasts with eFoodsDirect (AD)

This article was posted: Sunday, June 26, 2011 at 2:46 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
Feds Reject Technology That Could Secure The Border See the rest on the Alex Jones YouTube channel.

Drug Cartels/Illegal Immigrants Given All Access Pass to America See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.