Posted on 05/23/2012 10:50:28 AM PDT by Olog-hai
European Union nations will be able to compensate some big energy users, including steel and aluminum producers, for extra costs resulting from changes to the EU Emissions Trading System (ETS) beginning next year, the Commission confirmed yesterday (22 May).
A draft last month had already shown EU member states from 2013 would be able to shield big industry, to try to prevent so-called carbon leakage, which happens when rising costs drive business out of Europe.
"If production shifts from the EU to third countries with less environmental regulation, this could undermine our objective of a global reduction of greenhouse gas emissions," Competition Commissioner Joaquín Almunia said in a statement.
From next year, the EU's ETS expands to include more sectors and fewer permits will be handed out for free, meaning polluters will have to pay for them through auctions and power costs could rise.
Sectors judged eligible for compensation to make up for some of the expected extra energy cost, include producers of aluminum, copper, fertilizers, steel, paper, cotton, chemicals and some plastics. …
(Excerpt) Read more at euractiv.com ...
This story encapsulates all that is wrong with Europe. Jack up fees and taxes on the basis of junk science to finance the continual engorgement of the bloated government leviathan, then give some of it back to hand-picked wealthy cronies when it becomes obvious it will drive some out of business. Not the slightest concern for taxpayers, nor for small businessmen with no pals in Brussels. These people are awful and I hope to live to see them hanging from lamp posts in a free and independent England.
Is this an excerpt out of Atlas Shrugged?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.