Free Republic

The carbon capture package includes a bill, introduced Wednesday, for the United States to work toward a global goal of planting a trillion trees. It also features an expansion of a tax break approved by Congress in 2018 and signed by President Trump for companies that use carbon capture technology to trap carbon from fossil fuel or industrial plants. The new bill would make the so-called 45Q tax credit permanent, increasing the amount paid to companies and lowering the threshold of captured carbon to qualify for it. Another bill looks to boost research, development, and deployment of carbon capture technology...

The unfolding Greek financial crisis is front page news. The repercussions – bank runs, unsustainable debts, deadlocked creditors – could easily lead to major consequences worldwide. However misconceived the Euro currency was, its downfall will be painful on a global scale. How much of Greece’s current economic problems were caused by the made Hellenic dash into renewable energy? The answer, unsurprisingly, is most likely quite a lot. Greece, like many small European economies, has placed a substantial focus on green energy, seeing it as a quick leg up into the big league – an easy way to attract generous funding...

Motorists are about to get drafted into California’s war on climate change. Starting Jan. 1, gas and diesel fuel will be subject to California’s cap-and-trade market, a 2-year-old regulatory mechanism that puts a price on carbon spewed into the atmosphere. The result will be higher gasoline and diesel prices, and probably more controversy for a state program that’s already been attacked in the courts by the business community.

Another day is The Backdown? Everything is more important than carbon action these days. In China, real pollution is trumping the fake kind. China has been toying with carbon markets, but this month announced they might have to back away. (The shame!) [Reuters]  “…the all-out efforts to combat China’s disastrous pollution levels might get in the way of plans to tax carbon dioxide emissions in a bid to stunt the rapid growth of greenhouse gas emissions, Zhu Guangyao, the vice environment minister, said.“We have to reflect the requests of the majority through many consultation rounds,” he told the Beijing Morning...

Flows of money towards climate adaptation projects are becoming increasingly unpredictable, making it difficult for vulnerable countries to prepare for the hardships caused by global warming. Future fundraising tactics would have to be “extremely aggressive” in order to raise enough money to continue their work, according to board members of the UN-run Adaptation Fund, the primary finance provider for adaptation projects around the world. “We are essentially going with our hands out to everyone,” Philip Weech, the board member from the Bahamas representing the Latin American and Caribbean regions, told RTCC. “We take funds from anyone, any inch, but the...

Credit to The Australian for printing both points of view. Published as an Op-Ed today.Carbon credits market is neither free nor worth anything by: Joanne NovaFrom: The Australian July 31, 2013 12:00AM THE paradox du jour: people who like free markets don’t want a carbon market, and the people who don’t trust capitalism want emissions trading. So why are socialists fighting for a carbon market? Because this “market” is a bureaucrat’s wet dream. A free market is the voluntary exchange of goods and services. “Free” means being free to choose to buy or to not buy the product. At...

The European Parliament just voted down a measure that would have attempted to revive its carbon market, likely dooming it to a slow and undignified death. This was a last-ditch effort to drive the EU’s carbon price back to a level that would incentivize green reforms. And it failed. --------------------------------------------------- The EU has been the global laboratory testing the green agenda to see how it works. Today’s story means that the guinea pig died; the most important piece of green intervention in world history has become an expensive and embarrassing flop. It’s hard to exaggerate the importance of this for...

--> The close today at 2.80 rebounded from another record low earlier at 2.46. Over the past two days, the EUA lost 1.92From the GWPF:Europe’s New Anti-Green Majority Scores Huge Victory EU Parliament Refuses To Save Its Dying Carbon Market The European Union’s climate change policy is on the brink of collapse today after MEPs torpedoed Europe’s flagship CO2 emissions trading scheme by voting against a measure to support the price of carbon permits. The price of carbon crashed up to 45 per cent to a record-low €2.63 a metric ton (and later to €2.46 – Anthony), after the European...

What today’s closing graph may look like: A Tiljander-Mann hockey stickHmmm, looks like they might read WUWT, that headline below looks familiar.CO2 prices in freefall as traders despair over EU vote 24 Jan 2013 11:26 Last updated: 24 Jan 2013 13:44LONDON, Jan 24 (Reuters Point Carbon) – European carbon prices went into freefall on Thursday, dropping 40 percent at one point to a record low 2.81 euros, after members of the EU Parliament’s industry committee voted against a plan to rescue the ailing market.  http://www.pointcarbon.com/news/reutersnews/1.2151825==============================================================Yesterday’s close was 4.74 euros. The market hasn’t closed yet, so there could be some...

Monday, Jan 25, 2010 Banks and investors are pulling out of the carbon market after the failure to make progress at Copenhagen on reaching new emissions targets after 2012. Carbon financiers have already begun leaving banks in London because of the lack of activity and the drop-off in investment demand. The Guardian has been told that backers have this month pulled out of a large planned clean-energy project in the developing world because of the expected fall in emissions credits after 2012. Anthony Hobley, partner and global head of climate change and carbon finance at law firm Norton Rose, said:...

The Brazilian Securities, Commodities and Futures Exchange announces the cancelation of the voluntary carbon credit market auction. The auction was scheduled to take place on December 22, at 1:00 p.m. (Brazil Time). It will not be held on this date due to the lack of participants, in accordance to the auction’s Notice of Invitation to Tender.

Falling oil prices slash value of greenhouse gas emission allowances.SOURCES: EEX; TECSON The price of European Union (EU) allowances for carbon dioxide emissions has reached an all-time low, hit by falling oil and gas prices, and expectations that economic recession will lead to reduced energy demand.Under the EU's mandatory emission trading system - set up in 2005 and still by far the largest such scheme in the world - power plants and other CO2-intensive industries can buy emission allowances that allow them to exceed their government-allocated CO2 caps. In 2008, the equivalent of almost 5 billion tonnes of CO2 was...

The double standards of our eco accountants Imagine an unpopular, impotent, and fragile UK Government, trying to make political capital out of a looming crisis. To avoid being embarrassed by criticism of its shallow policies, it appoints an independent panel of experts, to which it defers controversial decisions. Now imagine that the panel proposes measures from which its members and their associates will directly benefit. It couldn't happen here, you may think. Scandal and resignations would surely follow. Who could possibly allow vested interests to profit from the legislation they are instrumental in creating? This week, an independent panel of...