Collapsing Carbon Market Makes Mega-Pollution Cheap. Commentary by Julian Glover, Guardian (UK), February 25, 2009. "'Roll up for the great pollution fire sale, the ultimate chance to wreck the climate on the cheap. You sir, over there, from the power company -- look at this lovely tonne of freshly made, sulphur-rich carbon dioxide. Last summer it cost an eyewatering €31 to throw up your smokestack, but in our give-away global recession sale, that's been slashed to a crazy €8.20. Dump plans for the wind turbine! Compare our offer with costly solar energy! At this low, low price you can't afford not to burn coal!'... Set up to price pollution out of existence, carbon trading is pricing it back in. Europe's carbon markets are in collapse... Like medieval pardoners handing out unlimited indulgences, governments have created a glut. Reformation must follow. Wanted: a modern Martin Luther to nail a shaming truth to industry's door: Europe's whizz-bang carbon market is turning sub-prime."
2009-02-25
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