E.U. Carbon Market Intervention? By James Kanter, NYTimes, February 26, 2009. "European industries are emitting less than in previous years because of the severity of the economic downturn. That seems like good news for the climate. But demand by industry for permits to emit carbon dioxide has withered and the price of the permits has plummeted. Because emitting now costs so little, industries have fewer reasons to clean up their production processes or switch to renewable sources of energy... Some political leaders and analysts now are openly suggesting that European Union regulators may have to intervene in the carbon markets to save the Emissions Trading System from further brushes with ignominy."
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