European Union leaders today unveiled detailed draft plans to reduce E.U.-wide emissions 20 percent below 1990 levels by 2020. The plans would require utilities to buy all of their greenhouse-gas emissions permits beginning in 2013, as opposed to the current practice of allocating nearly all of them for free, which companies can then sell at a profit. Also starting in 2013, other heavily polluting industries, such as aluminum, cement, and steel, will have to pay for a gradually increasing portion of their pollution permits until 2020 when companies will have to pay for all of them. In total, the draft plans are expected to cost about $87 billion a year, though E.U. leaders argued that the costs of inaction would be much higher. The European Union has also proposed country-specific renewable-energy targets that together aim to achieve the goal of getting 20 percent of the E.U.'s electricity from renewable sources by 2020. The plans still needs approval from E.U. country governments and the European Parliament in a process expected to take at least two years.
source: Bloomberg, Reuters, Financial Times
Comments View as Flat
usandthem Posted 4:42 am
23 Jan 2008
Fuel
One of the problems, as I have been hearing it, is that the E.U. is "farming" out their bio-fuels,such as ethanol to poor countries.The problem is that there already is not enough food in these countries and the common folk are going to be the ones to suffer,as per usual.
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sycamore Posted 1:11 pm
25 Jan 2008
ethanol farce
Countries that make their ethanol from waste, such as sugar cane stalk waste, can do so sustainably. The sugar cane stalks are a by product of sugar refining. Corn which is grown to produce ethanol is not sustainable and when grown primarily as a fuel stock adds very little to the net energy equation. The use of food stocks like corn drivers up food prices around the world which puts a greater burden on poor people. So, who do you think is promoting this farce? Look no further than Monsanto, Cargill and ADM.
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Tasermons Partner Posted 1:38 pm
25 Jan 2008
2013...
...looks like they're preparin' ahead of time for the Kyoto Treaty replacement in 2012.
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