These people are nuts:
Some of Europe\’s largest industrial companies gained billions of euros from the carbon emission rules they lobbied fiercely against, new analysis reveals today.
The free permits, granted to companies with a market value of €4bn (£3.5bn), can be sold or kept for future use. The European commission estimates that the entire energy-intensive sector will have accumulated allowances worth €7bn-€12bn by the end of 2012.
\”More and more businesses see that Europe\’s future lies in a highly efficient economy with low pollution,\” Baroness Worthington, Sandbag\’s founding director, said. \”But a small group of carbon fat-cat companies are trying to stop this, in spite of making billions from a windfall of free pollution permits.\”
So, what they want to do is cut the number of permits in existence.
Their logic being that recession, or perhaps increased efficiency, has meant that there are too many permits and thus the price is too low and thus we must cut the number of permits to increase the price.
Except this is crazed lunacy.
We want people to reduce their emissions so that they can sell off the extra permits. That\’s the whole point, to provide people with a method of making a profit from reducing emissions.
So, if they do reduce emissions and thus look to make a profit, we\’re going to encourage them to reduce emissions in the future by confiscating their profits, are we?
They\’re cretins. Shoot them.