A year ago the BBC reported:
Europe's big power companies could make profits of up to 71bn euros (£56bn) from the EU's scheme to curb carbon emissions, according to a report.Environment group WWF says the EU's Emissions Trading Scheme (ETS), which allocates firms a fixed number of free carbon permits, does not work.
It says the high level of free handouts benefits German generators most of all, despite their reliance on coal....MORE
Here's a pull-quote from the article:
It's less than perfect, but it's a start - it's the first market-based mechanism to put a price on the use of natural resources
-E.ON spokesman
E.ON is is headquartered in Düsseldorf and is one of the largest power producers in the world. E.ON U.S. is headquartered in Louisville. Here's E.on's press release:
E.ON advocates uniform global carbon trading with a phased auctioning scheme
Here's Liza Minnelli and Joel Grey:
