Soaring European \u201cCarbon\u201d Market Encourages London, but Worries Remain that U.S Is Not Securely on Board<\/p>\n\n\n\n
Feb. 25, 2021 (EIRNS)\u2014London\u2019s The Economist<\/em> magazine on Feb. 24 hailed the 60% surge in prices on the European carbon-emissions trading market since last November as a sign that the market is finally \u201cComing into Its Own,\u201d as it headlined its report. The European market is far-and-away the biggest carbon trading operation in the world. The Economist<\/em> points to the entry of some 230 \u201cinvestment funds\u201d into the trading\u2014speculators like Goldman Sachs, Morgan Stanley, and big hedge funds\u2014as signalling that the market is \u201cjoining the financial mainstream.\u201d And they are entering, because \u201ccarbon seems like a one-way bet.\u201d The European Union\u2019s Dec. 11th order to increase the required cuts in emissions by 2030 to 55% of 1990 levels, instead of \u201conly\u201d by 40%, combined with the entry of the big speculators, sent emission \u201callowance\u201d prices soaring, with bets that the price will rise (\u201clong positions\u201d) doubling since November.<\/p>\n\n\n\n The Economist<\/em> has spent much of the past week, however, in various articles, including a monster piece of over 3,500 words, ruminating about how to ensure that the United States joins the murderous decarbonization frenzy in the way it must, if London is to have a shot at imposing this scheme upon the entire world. \u201cWhile few question Mr. Biden\u2019s sincerity to turn things round, America\u2019s ability to keep to its word on climate change looks vulnerable to the next Republican election win,\u201d one article warned. Another reminded readers that the U.S. Congress has not passed any overall climate legislation since 2009, which forced Barack Obama to impose the desired messages by executive orders, which, however, were then overturned by President Trump. If Biden is unable to impose a sufficiently aggressive decarbonization program, no matter how strong John Kerry is, The Economist <\/em>warns in its typically British way, the United States will lack \u201cthe license to persuade, shame, and where appropriate, bully\u201d other countries\u2014such as China.<\/p>\n\n\n\n While it presents many a suggestion, scenario, and order as to how to handle U.S. politics to secure London\u2019s goal, the rag\u2019s controllers make clear that they are pinning their hope of cracking opposition, on tightening the cut-off of financing to any who don\u2019t play ball. Republican business donors being squeezed by \u201casset managers,\u201d can be lined up behind \u201cBiden\u2019s\u201d net-zero carbon plans. A January statement of support for a \u201cdurable climate policy\u201d with \u201cwell designed market mechanisms\u201d from the American Chamber of Commerce, once considered \u201can implacable adversary\u201d to the Green fraud, is viewed as another hopeful sign that pressure from the corporate sector might break Republican and conservative Democrat opposition.<\/p>\n","protected":false},"excerpt":{"rendered":" Soaring European \u201cCarbon\u201d Market Encourages London, but Worries Remain that U.S Is Not Securely on Board Feb. 25, 2021 (EIRNS)\u2014London\u2019s The Economist magazine on Feb. 24 hailed the 60% surge in prices on the European carbon-emissions trading market since last November as a sign that the market is finally \u201cComing into Its Own,\u201d as it […]<\/p>\n","protected":false},"author":37,"featured_media":69415,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31,642,505,632],"tags":[842],"class_list":["post-69413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-environmentalism","category-finance","category-updates","category-green-new-deal","tag-lang-en"],"_links":{"self":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts\/69413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/comments?post=69413"}],"version-history":[{"count":1,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts\/69413\/revisions"}],"predecessor-version":[{"id":69414,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts\/69413\/revisions\/69414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/media\/69415"}],"wp:attachment":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/media?parent=69413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/categories?post=69413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/tags?post=69413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}