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EU legislators agreed early on Sunday (18 December) to introduce a carbon price on buildings and road transport fuels, with a new €87-billion social climate fund established in parallel to cushion the impact on households and help them invest in green solutions.
The new carbon price will apply to petrol, diesel and heating fuels such as natural gas whose climate warming emissions have continued to rise over the years despite attempts to decarbonise.
This was arguably the most controversial issue in the negotiation to reform the EU’s Emissions Trading Scheme (ETS), the biggest carbon market in the world and the bloc’s flagship climate policy instrument.
“The biggest challenge was ETS2,” said Peter Liese, a German lawmaker who represented the European Parliament in the two-day negotiation which started on Friday and concluded on Sunday morning (18 December).
Following marathon talks, negotiators agreed to start pricing the carbon emissions stemming from burning fossil fuels in road transport and heating in 2027, with a price ceiling of €45 per tonne of carbon emitted that will apply until 2030.
originally posted by: VulcanWerks
a reply to: Irishhaf
I suspect “The Great Reset” will be complete when the following objectives are completed:
- Russia is bled dry, and possibly undergoes massive internal change away from their nationalistic, militaristic ways to something that more closely resembles a NATO country.
- China is knocked back to being materially behind the US economically.
- we “cure” COVID.
That translates to:
- materially reduced threat of global destruction.
- decades of renewed economic dominance.
- the US is once again the hero - we cured the virus.
Once those goals are achieved, green energy will be easily proliferated. This is just the hard part right now.