Europe's $287bn carbon 'waste': UBS report

Please note that this was published in 2011, and it was already understood over 18 months ago this whol scheme promoted by global warming scammers was a farce.  Ideology coming to grips with reality!  It really is true; ideology makes smart people dumb! 

by: Sid Maher From: The Australian November 23, 2011 12:00AM

SWISS banking giant UBS says the European Union's emissions trading scheme has cost the continent's consumers $287 billion for "almost zero impact" on cutting carbon emissions, and has warned that the EU's carbon pricing market is on the verge of a crash next year.  In a damning report to clients, UBS Investment Research said that had the €210bn the European ETS had cost consumers been used in a targeted approach to replace the EU's dirtiest power plants, emissions could have been reduced by 43 per cent "instead of almost zero impact on the back of emissions trading". This appeared here....