EU ETS Myths Busted As Carbon Price Collapses; “Should Not Be Replicated”

17 Apr


From Carbon Trade Watch:

…a new report shows that the problems of the EU ETS are systemic and unresolvable. Keeping this failed system in place would further delay real action for reducing emissions in Europe. The report “EU ETS myth busting: why it can’t be reformed and shouldn’t be replicated”, has been published by several signatory organisations from the “Time to scrap the ETS” declaration. It looks at a number of claims made in defence of the EU ETS and shows why they are not valid.

Amusingly, for any readers foolish enough to swallow the Liberal Party’s baloney about their “Direct Action” alternative “solution” to the “problem” of man-made climate change, the report calls for … wait for it … direct action alternatives to emissions trading.

Meanwhile, the EU carbon price has collapsed, after a vote to try and reform the EU ETS failed to pass.  This has ugly ramifications for the already hideous Federal budgeting performance of the Labor party:

LABOR will revise down its carbon tax revenue estimates following a crash in the European carbon market, at a likely multi-billion dollar cost to the federal budget.

The EU’s carbon price sank to 2.55 euros ($A3.24) in trading overnight, as legislators rejected a proposal to save the market from collapse.

The federal budget currently assumes a $29 carbon price in 2015, when Australia’s carbon trading scheme is linked to the EU carbon market.

True to form, and apparently unable to recognise that they are deep deep deep in a hole of their own making, the pig-headed public trough-swillers in the Labor party choose to keep right on digging:

Climate Change Minister Greg Combet told the ABC: “We will continue with our plans to link with the European emissions trading scheme from 1 July 2015, which is still over two years away.”


The bankers, speculators, traders, and assorted financial parasites will be pleased.

In the rigged casino of global financial markets, Volatility = Profit potential

11 Responses to “EU ETS Myths Busted As Carbon Price Collapses; “Should Not Be Replicated””

  1. mick April 17, 2013 at 6:00 pm #

    Governments are always done over, especially in Australia, because elected representatives are SO DUMB. Whilst politicians are good at being elected they are too stupid to make wise decisions which benefit us all. The ETS is a perfect example of this. The government should always have taken “direct action” like taxing the polluters and subsidising clean energies. But then you can’t have it both ways and given that we apparently have to pay out every destructive industry what else was going to happen.

    Now we await the next set of blind morons. This time we’ll see billions of taxpayer dollars shovelled into the bank accounts of the rich and every good project benefiting average Australians dismantled.

    Truly we all deserve the government we deserve. The business owned media is a disgrace. Instead of pointing to good Independents they are pushing their mates who get them elected. In any other situation this would be considered insider trading and the culprits jailed. But in politics you get a whopping pay rise not available to the general public and an instantly accessable superannuation when you are voted out. A total disgrace. Journalists should hang their heads in shame!!

  2. Geoff Collet April 17, 2013 at 6:18 pm #

    ” Pollution ” by an essential gas, C O 2. As essential as oxygen for all life. World’s greatest scam generated by perceived money to be made by trading, taxing and bogus researching.

  3. PeterJB April 17, 2013 at 7:02 pm #

    @BarnabyisRight, I had promised to get back to you and I did not; for this I apologize. Things happen, operations and the rigors of old age and a bad memory.
    A lot happening in OZ at the moment as well as the rest of the World. Too much for our political hacks.

    I wrote this am at Zero Hedge:

    The Problem and the Solution in simple terms of one word:

    As an observer of humanity, I, like Jesse’s of Cafe Americain, see, in his words, a Sea Change looming, a major shift in human circumstances and as we have linked the monetary and financial industries, into our human values at system level; nay, we have made the markets our very being, the impact on our lives will be traumatic, and, as now, to many, hard fate.

    What has not been discussed in commentary and more importantly with ourselves is the essence of human being where through validation by our honest scientific knowledge, that which can only be, and hold the center, is phenomenal integrity.

    Our problem, simply put, is the LACK of truth in managing our affairs, and dealing with reality, and ourselves.

    The solution to our situation, again, simply put, is TRUTH.

    We must STOP lying to ourselves, lying to others, and lying about the facts of our monetary, financial and banking affairs and fundamentals. We must emerge from our “Denial”. Today, everything, everything is a government sponsored LIE.

    The simple solution to our impending disaster, and to our future, is to switch from a priori LIES, to the TRUTH.


    Ho hum


    “The war against illegal plunder has been fought since the beginning of the world. But how is… legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. Then abolish this law without delay … If such a law is not abolished immediately it will spread, multiply and develop into a system.”
    — Frederic Bastiat

    (1801-1850) French economist, statesman, and author. He did most of his writing during the years just before — and immediately following — the French Revolution of February 1848
    Source: “The Law” by Frederic Bastiat (1848)

    “An unlimited power to tax involves, necessarily, a power to destroy;
    because there is a limit beyond which no institution and no property can bear taxation.”
    — Justice John Marshall

    (1755-1835) US Supreme Court Chief Justice

    “The root of the evil… lay not in corruption but in the system which bred it, the alliance between industrialists and politicians which produced benefits in the form of tariffs, public lands, and federal subsidies.”
    — Samuel P. Hays

    Source: The Response to Industrialism 1885-1914, p. 26, describing the view of E.L. Godkin, who founded the weekly Nation

  4. PeterJB April 17, 2013 at 7:07 pm #

    I have always said, from the time it was first dreamt up by the UN drones, and clones and automatons, that the Carbon Tax has been a bureaucrats’ wet-dream from the beginning; Gillard’s embrace appears to be a Green’s Brown affair (take that as you may) for power; that is, we the unwashed can have anything imposed on us as long as she rules! there is nothing in Gillard’s actions that suggests that she gives a shit about the people of Australia at all. Mere words; lies and more damned lies.

    Ho hum

  5. Kevin Moore April 18, 2013 at 5:10 am #

    “A Blanket Around the Earth”
    NASA tells us that somewhere up in the sky there is a blanket of CO2 which traps heat radiated from the Earth and despite the laws of physics the heat is returned to the ground. My simple logic asks — how does heat from the Sun pass through the blanket in the first place? If you stand in front of a fire and hold a blanket up in front of you ,you will feel cooler than you otherwise would. Therefore shouldn’t the “trapped” heat be on the Sun side of the “blanket” and the Earth cooler?
    Julia wants kids to get a good edukayshun, but fills libraries and schools up with books full of this climate change/global warming crap. Julia and her ilk are waging a war to dumb the population down. The logic of global warming is as simple as the ABC.

    • Bush bunny April 18, 2013 at 1:05 pm #

      I absolutely agree with you Kevin. I was questioning this climate change AGW rort well before 2007 with Tony Windsor. He ignored me and what was being said by skeptic scientists overseas. As soon as Al Gore opened his mouth (and has made billions from it for himself and others) it contradicted what I had learned at tertiary level and a degree. Pollution is one thing, introducing sustainable agricultural practices is also a must and can be done, but controlling the weather????? If anything the Earth is going into a colder cycle, and that will effect agricultural production. It’s the weather that kills us including floods, droughts, bush fires, heat waves, volcanic and earthquake seismic activity, hurricanes and cyclones. We can prevent this to a point, (sea walls and levies, cyclone and earthquake proof buildings, fire breaks, etc., but tell that to people living on the fertile hills of Mount Vesuvius. But if someone controls our energy sources by inflating prices to subsidize clean energy, they are trying to control our lifestyle by force. What subsidies are given to the Ballina sugar cane electricity generator. I feel sorry for example the BBC that put a lot of their superannuation funds in to carbon credit investment and pushed the AGW lie. Another rort. Australian greens and supporters of the carbon tax have not changed the environment or climate, but pushed up prices on the basis of poor science calculations, bordering on fraud. I had some government person come along and lecture me (nicely by the way) on how to cut down my greenhouse gases. He tried to push solar hot water on me, and I refused. ‘It does not work well in temperate zones, and my hot water consumption is less than $70 per 12 weeks, and how much will a solar hot water system cost me?” Gee, can’t they do their sums. It is terrible when a constituent knows more about climate change than their parliamentarian. Don’t they watch what has been going on overseas? Subsidies being cut for wind turbines and solar.

  6. Kevin Moore April 18, 2013 at 7:50 am #

    I thought that this would be of interest to you –

    ‘False-flag’ meme goes mainstream on Boston Marathon bombings
    “………………………..Mobile, Alabama TV station Local TV 15 reported:

    University of Mobile’s Cross Country Coach, who was near the finish line of the Boston Marathon when a series of explosions went off, said he thought it was odd there were bomb sniffing dogs at the start and finish lines.

    “They kept making announcements on the loud speaker that it was just a drill and there was nothing to worry about,” Coach Ali Stevenson told Local 15. “It seemed like there was some sort of threat, but they kept telling us it was just a drill.”

    At 12:53 pm local time, the Boston Globe newspaper tweeted: “Officials: There will be a controlled explosion opposite the library within one minute as part of bomb squad activities.”

    Then almost two hours later, at 2:50 p.m., bombs exploded near the finish line of the Boston Marathon, killing three people and injuring more than 100 others.

    Just a coincidence? Maybe. But since all of the biggest “terror attacks” in recent US history, including the two World Trade Center bombings and the Oklahoma City bombing, have been inside jobs, and since most of the “terror plots” discovered in the US since 9/11 have been created by the FBI, we have every right to be suspicious.

    Terror bombings have only one beneficiary: Governments, and the wealthy families that own them.

    As Vincent Vinciguerra, one of the perpetrators of the Operation Gladio terror attacks, explained: “You had to attack civilians, the people, women, children, innocent people, unknown people far removed from any political game. The reason was quite simple: to force . . . the public to turn to the state to ask for greater security.”

    Whatever the truth about the Boston bombings, it seems that the false-flag meme is infiltrating mainstream discourse. And it isn’t going to go away . . . at least not until 9/11 and other false-flag crimes are solved, and effective measures instituted to protect the public against the scourge of false-flag terror.”

  7. Geoff Collet April 18, 2013 at 1:49 pm #

    How much will your solar hot water system cost. relative to your $70 per 12 weeks? If you buy it at retail in Philippines it will cost you 120 weeks equivalent plus freight and installation. And incidentally it will be made in China. The same place as the one you buy in Australia for $5,000 plus freight and installation.

    Food for thought.

    A teenage lad says to his father, ” I am thinking of taking up a life in organised crime.

    His father replies ” Private or government sector ? “

    • bushbunny April 18, 2013 at 3:18 pm #

      Geoff, even if I thought it would be cheaper in the long run and cut down greenhouse gases to save the planet, I would not as it is on the Northern Tablelands found to be ineffective and has to be backed up by electricity. Just to have a shower once a day? These subsidies in Europe and UK are being cut. Two wind turbines fell over or burnt out in a wind of 50 mph. The Greens blamed it on sabotage. Fair dinkum!

      • bushbunny April 18, 2013 at 3:21 pm #

        P.S. I know people who have loaned 36k plus to install solar. They must be dedicated to the Green and climate change carbon credits scheme. Now solar companies are offering cheap pay back schemes to people who wish to install solar hot water systems. I know why, they are running out of customers who know how much it really costs.

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