Climate Madness: EU signs its own economic death warrant

Dangerous pollution? No, steam.

The … world … has … gone … mad. I am sure many of you, like me, will simply not believe the content of this article. The EU is going through a time of almost unprecedented financial turmoil. The global economy is struggling to recover from the GFC, but in Europe things are still very precarious: Greece is sinking fast, and Spain isn’t far behind, trillions in debt, the Euro will soon be worthless, and the entire economy of the European Union may literally grind to a halt. So what do the morons at the European Commission decide to do? Set ridiculous unilateral targets for curbing CO2 emissions which will cripple Europe’s economy even faster. From the UK Times Online (via The Australian):

Europe will introduce a surprise new plan today to combat global warming, committing Britain and the rest of the EU to the most ambitious targets in the world. The plan proposes a massive increase in the target for cutting greenhouse gas emissions in this decade.

The European Commission is determined to press ahead with the cuts despite the financial turmoil gripping the bloc, even though it would require Britain and other EU member states to impose far tougher financial penalties on their industries than are being considered by other large economies.

The plan, to cut emissions by 30 per cent on 1990 levels by 2020, would cost the EU an extra £33 billion a year by 2020 [roughly AU$60 billion as of today], according to a draft of the Commission’s communication leaked to The Times.

The existing target of a 20 per cent cut is already due to cost £48 billion. The Commission will argue that the lower target has become much easier to meet because of the recession, which resulted in the EU’s emissions falling more than 10 per cent last year as thousands of factories closed or cut production. Emissions last year were already 14 per cent below 1990 levels. [What a great argument! Let’s cripple our economy, then we won’t have any emissions anyway! Brilliant!]

Business leaders fear that thousands of jobs could be lost and energy bills could soar. Carbon taxes on road fuel, heating and other sources of emissions could be introduced, with proceeds reinvested in renewable energy products. [Wind and solar, and we know how reliable they are]

The EU’s present policy is to wait for other countries to commit themselves to equivalent action on their emissions before raising its target to 30 per cent “as part of a genuine global effort”. But after the failure of the Copenhagen climate summit, a global deal on cutting emissions is now unlikely to be agreed until the end of next year.

Connie Hedegaard, the Climate Commissioner, will make the case for the EU to commit itself unilaterally to a 30 per cent cut, to inspire other countries to follow suit and accelerate the development of low-carbon industries.

This is Climate Madness on a simply staggering scale. My heartfelt sympathy goes out to those readers in the EU. It’s been nice knowing you, but sadly, by next year, you won’t be able to afford the electricity to switch on your computers…

Read it here.

Comments

  1. Have you ever considered that’s what they want! To destroy their economies so they can then be saved by a new world government that will solve all their problems. BTW Greece has said it will solve its financial problems by subsidising green energy ! That says it all!