15.05.2013 - Why Europe's carbon woes matter to the whole world
Here's a very strange thing: Europe's decades-long effort to reduce carbon emissions has been thrown into a shambles because utilities and manufacturers are exceeding their carbon-reduction targets. That's right. Exceeding them. It almost sounds like a joke, but it's not. Europe's $100 billion carbon market, an innovative force in the powerful carbon-reduction approach known as cap and trade, has ceased to function the way it's supposed to. The resulting chaos in Europe's energy and environmental policies is threatening carbon-reduction initiatives in Australia, Asia, and elsewhere.............................................Full Article: Source
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