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China urges EU to halt carbon tax [Copy link] 中文

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Post time 2012-2-26 19:52:04 |Display all floors
This post was edited by sansukong at 2012-2-27 01:35

A warning for Africa: Carbon trading is a Ponzi scheme
January 25, 2012


The north’s climate debt to Africa should be paid not through such gambling but in genuine income transfers that reach ordinary people, who are taking the brunt of worsening climate chaos
by Michael Dorsey and Patrick Bond



Business Day (South Africa) January 24, 2012
  
Last winter, when carbon prices fell 15% in one week, industry analysts called it ‘carnage’. Then, in the fortnight before last month’s Durban climate summit, carbon prices fell more than 30%, with front-year European Union (EU) Allowance permits dropping below €8,50 a ton. And they have crashed even further since.

As Deutsche Bank said during the Durban talks: “We do not expect the pricing outlook to improve materially in the foreseeable future.” A UBS analyst predicted a price of less than €3 a ton in coming months because the EU’s Emissions Trading Scheme “isn’t working” and carbon prices are “already too low to have any significant environmental impact.”
French bank Société Générale projects that “European carbon permits may fall close to zero should regulators fail to set tight enough limits in the market after 2020″ — and without much prospect of that, the bank lowered its 2012 forecasts by 28%. A 54% crash for December 2012 carbon futures sent the price to a record low, just more than €6 a ton. An additional oversupply of 879-million tons was anticipated up to 2020, partly as a result of a huge inflow of United Nations (UN) offsets: about 1,75-billion tons.

Those UN carbon credits include Clean Development Mechanism projects, which are notoriously bogus, including SA’s pilot in Durban, the Bisasar Road “waste to energy” site.

Every analyst concedes that carbon prices will be far too low to catalyse the transformative innovations — most costing more than €50 a ton (the EU peak was just more than €30 a ton five years ago) — necessary in energy, transport, production, agriculture and disposal to achieve a solid post-carbon foothold. By all scientific accounts, by 2020 it is vital to wean the industrialised world economy from dependence upon more than half the currently consumed fossil fuels to avert catastrophic climate change.

Yet Africa hasn’t received this bad news — the press doesn’t report the carbon markets with critical vigour.The lack of awareness of the carbon market’s crash is a travesty — far too often the continent
has been looted by faraway financiers selling snake oil.

This week at the Sandton Sun, a conference aims to “make Africa a major focus for climate finance into the post-Kyoto era,” with keynote speakers from Morgan Stanley, Standard Bank , Nedbank , Carbon Check, CDM Africa Climate Solutions, South South North, similar emissions traders, the Johannesburg and Cape Town municipalities and the Department of Energy.

Beware you carbon buyers, sellers and speculators, because climate gamblers have been led astray since 1997, when the Kyoto Protocol was amended to let corporations buy the right to pollute in exchange for endorsing the treaty. Washington has refused to honour this ever since, even though it represents a broken promise, followed logically by US Secretary of State Hillary Clinton’s 2009 pledge to raise $100bn a year for the Green Climate Fund.

Clutching at straws, that fund’s design co-chairman, Trevor Manuel , has suggested getting half the revenues from carbon markets. It might have been feasible if the emissions trade reached the anticipated $3-trillion mark by 2020 but, within a decade, the market has peaked at $140bn in annual carbon trades. These are mostly in the EU, where the Emissions Trading Scheme was meant to generate a cap on emissions and a steady 1,74% annual reduction.
Unfortunately, the speculative character of carbon markets encouraged rampant fraud, value-added tax scams and computer hacking, which shut the scheme for two weeks last year.

The EU’s carbon trading also included perverse incentives to stockpile credits when large corporations as well as Eastern European states gambled that the price would increase.

With the market now collapsing, the current perverse incentive is to flood supply to at least achieve some return rather than none at all when eventually the markets are decommissioned, as happened in 2010 to the Chicago Climate Exchange.
Africa can do better than invest faith and state resources in yet another Ponzi scheme — the privatisation of the air. And the north’s climate debt to Africa should be paid not through such gambling but in genuine income transfers that reach ordinary people, who are taking the brunt of worsening climate chaos.

Patrick Bond and Michael Dorsey are development and environment professors at the University of KwaZulu-Natal and Dartmouth College respectively.

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Post time 2012-2-26 20:40:19 |Display all floors
sansukong Post time: 2012-2-26 19:52
A warning for Africa: Carbon trading is a Ponzi scheme
January 25, 2012

the word tax, sansukong shivers,
the word carbon tax, sansukong has a nervous breakdown
the word carbon trading, sansukong loses all senses.

who else has such disease?
who will finance such reports?

yes, all those KKK anti human, anti science, anti knowledge, right wing nuts of America.
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2012-3-2 03:52:33 |Display all floors
Revolutionar Post time: 2012-2-25 11:53
the word tax and everyone has wild imaginations.

add in the word carbon tax, the reflex action bec ...

These sort of taxes don't live in my imagination. They live on a little black text on my plane ticket. Right next to my seat number. A tax that's not going to accomplish much, if anything...

Why would China want to implement such a harmful and useless policy? We're not masochists. These Euros are very kinky people, haha.

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Post time 2012-3-2 03:55:21 |Display all floors
sansukong Post time: 2012-2-25 18:10
That's the way ... ar..har  ar..har. I like it ... ar..har, ar..har ...

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Post time 2012-3-2 04:46:15 |Display all floors
seneca Post time: 2012-2-25 10:32
What "negatives"? If you wanna eat lunch at Maxim's, you will also have to pay considerably MORE f ...

Billions towards a tax that doesn't solve anything. All in the coffers of misguided Europeans. A burden on a very important industry that's already riddled with strict regulations and taxes. Even higher ticket costs. Another obstacle to overcome for airliners.

These are negatives to me.

McDonald's? No thanks. I like being fit and healthy.

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Post time 2012-3-2 08:21:51 |Display all floors
chinanumberone Post time: 2012-3-2 04:46
Billions towards a tax that doesn't solve anything. All in the coffers of misguided Europeans. A b ...

Got money to tour no money to pay tax?

If EU implements , China and US don't , money goes into coffers of depleted EU government. Much needed cash for EU governments.

Burden?


Burden is on the  rich Chinese who travels to Paris on shopping trips.   You think they will kick their habits just because of a little tax?
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2012-3-3 01:26:55 |Display all floors
seneca Post time: 2012-3-2 11:51
Taxes never accomplish anything; people do.

Those who feel the pinch will perhaps rethink their  ...

I'm against what I personally consider harmful and useless taxes. This is a prime example. If the Chinese government decided to implement something like this I give you all my word that I'll be the first one on here protesting it.

I'm a fan of green energy. I invest in it and I monitor it with great joy but this, in my eyes, is just plain misguided. What's it going to accomplish?  It's the wrong path. Travelling by air is a clear necessity for millions of Chinese citizens who are off on business working hard to make the economy go round' and round'. I happen to be one of those people. I know many of these productive citizens who won't like the idea of having to pay even higher ticket costs. They're already paying high general taxes. I pay those with joy. I know where they're going. I know what they accomplish. This isn't mere pennies. This is big money. An estimated 3.5% increase/airfare. That's just awful. You and my other friend here don't seem to understand that.

Anyways, the Euros will probably end up spending that money on some more leisurely ventures. The Greeks are very good at this, haha. Leisurely ventures.  

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