Energy Industry
Industry: Email Alert RSS FeedEMISSION TRADING MARKETS: A DISASTER WAITING TO HAPPEN.
Europe Energy, May, 2006
"Good news for the environment: CO2 emissions were lower than anticipated in 2005". The European Commission obviously chose not to read the carbon trading markets which collapsed upon hearing the initial results of the first year of the European emissions trading scheme on 15 May. Margot Wallstrom, who was Environment Commissioner at the time the ETS was being decided, was no doubt looking into a crystal ball when she declaring loud and clear that the carbon market would only function properly if CO2 emission permits were few and far between quotas and that the only real danger for the system was over-allocation.
And the member states are up to their necks in it: France and Germany (in absolute figures) and especially Denmark, the Baltic states and Finland (in...
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