Posted on 11/10/2008 7:42:47 PM PST by NormsRevenge
PRAGUE (AFP) – Central Europe's top power producer, Czech-based CEZ, is pinning hopes on the financial crisis to thwart the approval of the EU's green package, saying it would hit hard at the region's coal-dependent industry.
The EU's climate-energy package seeks to raise the share of renewable sources in power production by 2020, boost energy savings and tighten the rules for trading in CO2 emission permits in a bid to cut greenhouse gas emissions.
Martin Roman, CEZ chairman and chief executive, said in an interview with AFP that a "yes" vote on the package from EU members in the region would be "economic suicide."
Roman attacked above all the plan to make companies pay the full price for their CO2 emissions from 2013 as a move that might have a devastating effect on central European industry, affected by the financial turmoil.
"The EU is shooting around without knowing where the enemy is," Roman said, adding the EU should take its time and commission an analysis of the situation before ordering companies to buy all carbon permits in auctions.
The European Commission and most member states want to see the climate package agreed at an EU summit in mid-December so Europe can be in a strong position at international climate change talks next year.
(Excerpt) Read more at news.yahoo.com ...
Boy, “climate change” sure was a “hot” campaign issue, wasn’t it?
File photo shows Greenpeace activists displaying a banner on the edge of a coal mine, near the city of Most, North Bohemia, Czech Republic. Central Europe's top power producer, Czech-based CEZ, is pinning hopes on the financial crisis to thwart the approval of the EU's green package, saying it would hit hard at the region's coal-dependent industry. (AFP/File)
Today's it's your coal, yesterday it was your oil, tomorrow.. ?
Got Coal?not for much longer ;-o
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