Tag Archives: carbon credits

The European Union’s program to reduce carbon emissions is in disarray.

The European Union’s program to reduce carbon emissions is in disarray.

The article at the link is probably one of the worst written stories in the history of journalism. It is incoherent, disorganized, and confused. Moreover, the authors are so in favor of the regulations to limit fossil fuels that they are unable to even consider any reasons which might explain why Europe’s carbon credit market is collapsing and why the EU’s legislators rejected a rescue plan to save it.

In fact, because of their biases, the authors buried the real story, which is this:

Parliamentarians on April 16 voted 334 to 315 for blocking the carbon market rescue.

“This is the first time I can remember when parliament has put economic survival and jobs ahead of green orthodoxy,” said Roger Helmer, a member of the U.K. Independence Party who has been in the parliament for 14 years and opposes emissions trading. “It marks an absolute watershed.”

The bad economy and high debt in Europe is making the idea of raising taxes and adding more restrictions on fossil fuels very unappealing to politicians.