“EU Factories Facing First Carbon Shortfall Since 2008”

eufactories

http://www.bloomberg.com/news/2014-02-14/eu-factories-facing-first-carbon-shortfall-since-2008-energy.html

European rules to curb the record glut of carbon permits are raising the prospects of a shortage for manufacturers from Dow Chemical Co. to HeidelbergCement AG.

Companies in Europe, which need allowances to match their emissions output, will be short of as many as 100 million permits a year through 2016, according to Goldman Sachs Group Inc. The gap, worth 647 million euros ($884 million) at yesterday’s prices, compares with a surplus of 2.1 billion euros in 2012, EU data show. Carbon futures may more than double by next year to 15 euros a metric ton amid the curb, said UBS AG.

showmethemoney

Wonder how much of Goldman Sachs $40 billion clean energy budget is invested in carbon emission permits that are set to double in year?

It looks as though the EU strategy of raising emission permit prices so that companies are forced to physically invest in emission reductions rather than buying permits is starting to kick in.

 

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About isabellew9873

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

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