VitalAccurateThinking

Pollution Credits.

The deeper I dig, the more this whole issue of trading emissions stinks to high heaven"

EU trading of pollution credits fails on goals - Business - International Herald Tribune

Five years later, the EU is failing to meet the Kyoto Protocol's carbon dioxide emission standards. Rather than help protect the environment, the trading system has led to increases in electricity prices of more than 50 percent and record profits for RWE and other utilities.
"I don't suppose the environment has noticed the European emissions trading scheme," said William Blyth, director of Oxford Energy Associates in Oxford, England, and a former International Energy Agency official who advises businesses on energy and climate change policy. The utilities and emissions traders, in contrast, "have done very well."

So basically, I am back to concluding that the Kyoto Protocol is just another source of wealth transfer from rich nations to poor nations as well as the intermediaries who take their cut.

posted by Jim VAT @ 11:45 AM