Investment and other financial matters

Europe Finally Wakes Up To The Cost Of Crazy Green Dreams

October 22, 2008

Benny Peiser says Europe is going cool on warming policies, and is
belatedly checking just how much it will hurt to cut emissions:

To prevent a financial crisis from turning into an economic calamity,
the European Union has pulled the emergency brake on green policies. At
last week’s EU summit in Brussels, seven eastern and central European
countries, together with Italy, threatened to veto the Union’s climate
pact.

Faced with failure, the final EU summit declaration dropped all
reference to the legal implementation of the climate targets and instead
introduced a new pre-condition.

Any future climate bill must now be "cost-effective to all sectors of
the European economy and for all member states, respecting each member
state’s specific situation."

The new agreement denotes that any binding climate law will now have to
be delayed until the completion of a comprehensive cost-effectiveness
analysis.

The new approach was outlined to a certain extent by the Italian
government last weekend. It announced that Italy would only be prepared
to approve the EU’s climate package at the next EU summit in December
under a certain pre-condition, i.e. that the plan remains provisional
and amendable until the real costs to all sectors of the European
economy and all member states are analyzed by the end of 2009.

A similar exercise in Australia would be excellent.

http://blogs.news.com.au/heraldsun/andrewbolt/index.php/heraldsun/com…

Warmest Regards

Bonzo

"The difference between a welfare state and a totalitarian state is a
matter of time" Ayn Rand

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posted by admin in Uncategorized and have Comment (1)

One Response to “Europe Finally Wakes Up To The Cost Of Crazy Green Dreams”

  1. admin says:

    obzno wrote:
    > October 22, 2008

    > Benny Peiser says

    quack quack quack