Europe About to double down on economic suicide – meet its toxic Emissions Trading System (ETS)
Stupid is as supid does
In the face of headlines like these;
Volkswagen slashes 50,000 jobs after profits collapse by nearly half
Europe is proceeding with plans to increase the burden it places on the industry ha provides well-being of its 450 million population by increasing the price of harmless CO2 emissions via the price fixing cartel called the emissions trading system (ETS).
From here;
EU leaders to demand carbon market reform by July, draft shows
Eu leaders face a quandary. The (ETS) is destroying industry through out the EU at an accelerating rate.
No industrial output equals no harmless CO2 – simple.
” European Union governments are set to ask the European Commission to propose reforms to the bloc’s carbon market by July, draft conclusions for a summit of EU leaders next week showed. At their summit on 19 March, EU leaders will ask Brussels “to present a review of the emissions trading system (ETS) at the latest by July 2026, to both reduce the volatility of the carbon price and mitigate its impact on electricity prices,” according to the draft conclusions, seen by Reuters. The draft conclusions said the reform should preserve the central role of the ETS in the EU’s energy transition. That’s despite calls from some governments, including Slovakia and the Czech Republic, for the EU to suspend or weaken the system, as a way to cut energy bills.
The European Commission has said it plans to propose the ETS reform in the third quarter of the year, but has not given a specific date.
So what the hell is the ETS system. From Brave AI;
The European Union Emissions Trading System (EU ETS) is the world’s first and largest carbon market, launched in 2005 as a cornerstone of EU climate policy. It operates on a cap-and-trade principle, setting a declining limit (cap) on greenhouse gas emissions from key sectors, including power generation, energy-intensive industries (like cement, steel, and chemicals), aviation within the European Economic Area (EEA), and maritime transport since 2024.
Each EU Allowance (EUA) permits the holder to emit one tonne of CO₂ equivalent. Companies must surrender enough allowances to cover their annual emissions or face fines of €100 per excess tonne.
The cap is reduced annually—by 4.3% from 2024 to 2027 and 4.4% from 2028 to 2030—to drive a 62% reduction in emissions by 2030 compared to 2005 levels. This tightening mechanism, part of the Fit for 55 package, has significantly increased carbon prices, now hovering around €60–80 per tonne, making fossil fuels more expensive and clean technologies more competitive.
An intentional barrier tha subsidizes he useless renewables sector and penalizes the use of fossil fuels, in pursuit of a senseless goal of reducing harmless CO2 emissions.
The system covers about 40% of EU greenhouse gas emissions and generates billions in auction revenue, which member states must spend on climate action, innovation, and modernization. A new system, EU ETS2, will begin in 2027, covering road transport and buildings, with fuel suppliers (not consumers) responsible for compliance. The original EU ETS will phase out by 2039, with no new allowances issued after that date.
How many billions;
From 2013 to late 2025, total EU ETS auction revenues exceeded €245 billion, with Member States required to use all collected revenues (or an equivalent value) for climate action and energy transformation. The reform of the EU ETS in 2023 increased the linear reduction factor to 4.3% per year (2024–2027) and 4.4% (2028–2030), driving future price increases and higher revenues.
In 2024;
The European Union Emissions Trading System (EU ETS) raised €38.8 billion in auction revenues in 2024, with €24.4 billion going directly to EU Member States. This represents a decline from 2023’s €43.6 billion due to an 18% drop in the average carbon price (€64.8/tCO₂e in 2024 vs. €83.6/tCO₂e in 2023), despite a 15% increase in the number of allowances auctioned.
Key points on revenue distribution:
€24.4 billion to Member States for climate and energy projects.
€6.3 billion to the Modernisation Fund.
€2.4 billion to the Innovation Fund.
€5.6 billion to the Recovery and Resilience Facility.
€0.25 billion to EFTA countries and Northern Ireland.
The socialists ‘wet dream’ – redistribution of productive capital to a futile and destructive cult.
Let’s wait and see how much more stupidity is revealed by the Brussels bureaucrats in the coming days.
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