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EU Economists say carbon price needs to rise 10 – 20 fold to meet pledges

Posted By Jo Nova On May 30, 2017 @ 3:50 am In Global Warming | Comments Disabled

The EU Ministry for The Management of Nice Weather says that the artificial price of carbon credits must rise a magnitude or two if they are going to have any chance of meeting their “climate” target. In some senses they are right — the price of carbon would have to be very high to get people to shift energy sources, because the ones that produce carbon dioxide are so blissfully cheap. On the other hand, this assumes that the IPCC models are right and that economies would survivc this brutal management.
They don’t seem to mention what this will do to electricity prices.

Global carbon prices must soar to meet Paris climate target: report

By Susanna Twidale | LONDON Reuters

The cost of emitting carbon dioxide must rise to $50-$100 per tonne by 2030, much higher than the current price in Europe of less than $6, if countries are to meet climate pledges made under the Paris Agreement, economists said on Monday.

 Under the Paris deal, more than 190 countries pledged to keep planet-warming well below 2 degrees Celsius (3.6 degrees Fahrenheit) to stave off the worst effects of climate change.

The Commission on Carbon Prices, a group of 13 leading economists supported by the World Bank, said in their report that carbon dioxide prices would need to be $40-$80 per tonne by 2020, rising to $50-$100 per tonne the following decade.

Next up, The Ministry for Daylight Savings pledges to slow the rotation of the Earth.

 

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