Tuesday, December 16, 2008

Cooler heads prevailed.


Industry lobbyists again triumphed this week in Brussels. Coal-fired power plants in East and Central European countries won the right to a delayed payment schedule for emissions credits. German industry won the right to future concessions if a study deems that the EU ETS renders them less competitive on the global market. Although it was never entirely clear what Italy wanted (some believed that the Italian delegation threatened to veto the package to win concessions for the Italian car industry in upcoming negotiations), Italian Prime Minister Silvio Berlusconi told AFP that "Italy is on the way to getting all it wants.” The gutted agreement infuriated environmentalists.

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