“Show Me the Money!”

showmethemoney

EU Environment Panel Backs Faster Approval of Carbon Fix

http://www.bloomberg.com/news/2014-01-30/eu-environment-panel-backs-faster-approval-of-carbon-fix.html

The European Parliament’s environment committee agreed to accelerate the adoption of a rescue plan for the bloc’s emissions market, which the European Commission wants to start as soon as possible.

The rescue plan involves delaying the sale of some permits to help prices rebound from levels the commission says are too low to discourage burning fossil fuels and spur investment in renewable energy. The cost of emitting one metric ton of carbon-dioxide has plunged 81 percent since 2008 amid a surplus of allowances exacerbated by the economic slowdown.

lightbulblogo

Neoclassical economic theory is not working. The fall in emission permit prices has not stimulated carbon intensive economic activity, which can be mitigated through buying cheap permits. Time for Plan B Keynesian Style. The price of emissions will be raised, which will then force companies to invest in clean technology to reduce emissions from their existing businesses. This capital investment will then create jobs and economic growth.

evilemoticon

This European intervention strategy seems to fit the “Beautiful Alliance” very well. What a strange coincidence!

Advertisements

Tags: , , ,

About isabellew9873

My name is Isabelle Whitehead. I was a member of the Bolton School group on the Operation Wallacea 2015 expedition to Peru.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: