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Gold/Mining/Energy : American Junior Oil and Gas Companies (e.g., BEXP, CRZO)
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To: Topannuity who wrote (62)4/17/2008 3:48:41 AM
From: The Barracuda™   of 88
 
one reason for higher oil prices

1. EU Plans to Break Atlas's Back
Reply to author: <mailto:prsaunde@enter.net>

From Paul Saunders


The UK Times Online reports that the European Union Commission
has set out to force the EU petrochemical and refining industries to
pay for 100% of their "carbon emissions permits" by 2020, thereby
bankrupting these industries according to Jeroen van der Veer, the
chief executive of Royal Dutch Shell.

business.timesonline.co.uk

In 2013, the EU will start charging 20% of the cost of the "carbon
emission permits" with an increase to 100% of the cost of the
"permits" by 2020. Two million EU jobs could be lost as these and
other follow-on industries like plastics move out.

From the Times story,

> Jeroen van der Veer, the chief executive of Royal
> Dutch Shell, has given warning that a proposed
> European Union scheme to force companies to pay
> for carbon emissions permits previously handed out
> [for] free threatens to destroy Europe's
> petrochemicals and refining industry.

And later in the article,

> "We don't want to threaten draconian measures,"
> Mr van der Veer said. "We prefer to make the case
> in a positive way. But it's a hell of a lot of
> employment."

And straight from the mouth of a villain who belongs in "Atlas
Shrugged" came this reply,

> His [van der Veer's] comments were rejected by
> Peter Madden, chief executive of Forum for the
> Future, the sustainable development charity, who
> said: "The EU emissions trading scheme is the most
> important initiative we currently have in the world
> to tackle climate change. Our major companies need
> to be getting behind it and investing in a low-carbon
> future and not trying to undermine positive action."

In addition, the EU and the US are currently causing much
starvation in the Third World right now by subsidizing biofuels like
palm oil and ethanol which are replacing food crops. And all of this
destruction is based on a non-existent man-made global warming
crisis.
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