£60m bill for the CO2 of our political class
Discussion
Article said:
The net result of all this trading and jiggery-pokery is that, after billions of pounds and dollars have changed hands, with a hefty commission for those bankers and other carbon traders along the way, there is no reduction in greenhouse gas emissions whatever. But at least our political class can continue to work in warm offices and fly righteously round the world on our behalf – while the rest of us foot the bill.
And if anyone thinks the Indians and Chinese are actually reducing their CO2 emissions, I'd suggest a trip to a mental home.RichardD said:
Also aren't Tata getting more money since they've mothballed that plant oop north meaning they can get a refund of the credits they get for having the plant in the first place?
From another thread:Mclovin said:
selling out your own country, what could be more scorched earth policy than that...
http://toryardvaark.wordpress.com/2009/12/14/clima...
On Thursday Aardvark blogged about the EU wide Carbon Trading scam, an industry that will grow ever bigger and more powerful if an agreement is reached at COP15.
Carbon Trading is just another scam, but like all scams it claims casualties in this case, British Jobs.
A far cry from Gordon Brown’s British Jobs for British Workers, the slogan should be Carbon Trading for British Jobs.
What is the connection between Dr Rajendra Pachauri, the Indian railway engineer who has been much in evidence at the Copenhagen climate conference, as chairman of the UN’s Intergovernmental Panel on Climate Change, and an Indian-owned steel company’s decision to mothball its giant Teesside steel works next month, ripping the heart out of the town of Redcar by putting 1,700 people out of work?
The real gain to Corus from stopping production at Redcar, however, is the saving it will make on its carbon allowances, allocated by the EU under its Emissions Trading Scheme (ETS). By ceasing to emit a potential six million tonnes of CO2 a year, Corus will benefit from carbon allowances which could soon, according to European Commission projections, be worth up to £600 million over the three years before current allocations expire.
But this is only half the story. In India, Corus’s owner, Tata, plans to increase steel production from 53 million tonnes to 124 million over the same period. By replacing inefficient old plants with new ones which emit only “European levels” of CO2, Tata could claim a further £600 million under the UN’s Clean Development Mechanism, which is operated by the UN Framework Convention on Climate Change – the organisers of the Copenhagen conference. Under this scheme, organisations in developed countries such as Britain – ranging from electricity supply companies to the NHS – can buy the right to exceed their CO2 allocations from those in developing countries, such as India. The huge but hidden cost of these “carbon permits” will be passed on to all of us, notably through our electricity bills.
A foretaste of what we can expect if the Copenhagen farce agrees anything, a global economy with multi-national’s trading carbon credits for jobs.
Tata/Corus can potentially receive £1.2 billion as a reward for Britain losing 1700 jobs, the pill made all the sweeter by Gordon Brown contributing £1.5 billion we dont have to the fund.
British taxes paying to kill British jobs, all so Brown can save the world from a non existent threat.
http://toryardvaark.wordpress.com/2009/12/14/clima...
On Thursday Aardvark blogged about the EU wide Carbon Trading scam, an industry that will grow ever bigger and more powerful if an agreement is reached at COP15.
Carbon Trading is just another scam, but like all scams it claims casualties in this case, British Jobs.
A far cry from Gordon Brown’s British Jobs for British Workers, the slogan should be Carbon Trading for British Jobs.
What is the connection between Dr Rajendra Pachauri, the Indian railway engineer who has been much in evidence at the Copenhagen climate conference, as chairman of the UN’s Intergovernmental Panel on Climate Change, and an Indian-owned steel company’s decision to mothball its giant Teesside steel works next month, ripping the heart out of the town of Redcar by putting 1,700 people out of work?
The real gain to Corus from stopping production at Redcar, however, is the saving it will make on its carbon allowances, allocated by the EU under its Emissions Trading Scheme (ETS). By ceasing to emit a potential six million tonnes of CO2 a year, Corus will benefit from carbon allowances which could soon, according to European Commission projections, be worth up to £600 million over the three years before current allocations expire.
But this is only half the story. In India, Corus’s owner, Tata, plans to increase steel production from 53 million tonnes to 124 million over the same period. By replacing inefficient old plants with new ones which emit only “European levels” of CO2, Tata could claim a further £600 million under the UN’s Clean Development Mechanism, which is operated by the UN Framework Convention on Climate Change – the organisers of the Copenhagen conference. Under this scheme, organisations in developed countries such as Britain – ranging from electricity supply companies to the NHS – can buy the right to exceed their CO2 allocations from those in developing countries, such as India. The huge but hidden cost of these “carbon permits” will be passed on to all of us, notably through our electricity bills.
A foretaste of what we can expect if the Copenhagen farce agrees anything, a global economy with multi-national’s trading carbon credits for jobs.
Tata/Corus can potentially receive £1.2 billion as a reward for Britain losing 1700 jobs, the pill made all the sweeter by Gordon Brown contributing £1.5 billion we dont have to the fund.
British taxes paying to kill British jobs, all so Brown can save the world from a non existent threat.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff