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Europes Carbon Market Crisis: Why Does it Matter?

2013-04-18 23:53:00| Climate Ark Climate Change & Global Warming Newsfeed

National Geographic: The European Parliament this week voted 334-315 (with 60 abstentions) against a controversial "back-loading" plan that aimed to boost the flagging price of carbon, which since 2008 has fallen from about 31 euros per tonne to about 4 euros (about $5.20). Since the vote, the price has fallen even farther, to 2.80 euros. The collapsing market is hardly the kind of firm foundation needed for building a clean-energy economy. (Related: "Renewable Energy Not Growing as Fast as Necessary," and "IEA Outlook:...

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