The European Parliament, far from closing down Big Carbon, has just agreed a whole raft of exemptions to the Emissions Trading Scheme.
The original plan was to have all Carbon Allowances auctioned as of 2013. That won’t be happening now.
There will be more Carbon Dioxide floating away into the skies. And less revenues from the sale of Carbon Permits to finance Carbon Capture and Storage (which was part of the original plan).
Energy supply and Carbon-intensive industry : protected once again from serious change over Global Warming.