Breaking news: Reuters is finally learning how to write balanced and attractive articles. The article called U.N. climate meeting was propaganda: Czech president is currently the most popular article on the Reuters website, ahead of the sex of Mackenzie Phillips (see the list in the right lower corner of any Reuters article): they switched the places (screenshot). I guess that Drudge Report did help a bit. ;-)EurActiv, Times, and others inform that Poland and Estonia have won: the Court of First Instance ruled that the European Commission didn't have the right to cut the carbon quotas for these two countries because the countries themselves should set the numbers and the commission may only review them. :-)
See also Klaus's U.N. speech about the ways (not) to solve the crises.
The Guardian's most popular article is dedicated to the same U.N. climate meeting and is called Obama the Impotent.
Later in the day, the European Commission tried to undo the court's decision and label it as inconsequential by a verbal construct I am unable to understand. I think they're just saying "f*ck you, courts", but the details remain elusive. A world war is pretty much guaranteed if the carbon regulation fanatics will keep on pushing on this extraordinarily unwise policy goal.
I only wanted to put a picture of Poland from Entropa - and by a complete coincidence, I received Estonia for free, too!
This decision should effectively mean that these countries won't be visibly restricted by the carbon caps. It should also be a positive precedent for other countries that have protested against the reduction of the quotas, namely Czechia, Hungary, Bulgaria, Latvia, Lithuania, and Romania. Slovakia has supported Poland and Estonia, too. Effectively, the decision should send the price of the CO2 hot air closer to the fair value, namely EUR 0 per ton.
EU carbon indulgences dropped by 17%, from 15.40 to 12.80, in two weeks. Berlusconi's newest plans to appeal - and re-lower the Italian quotas helped the downward movement, too. Three more months to return to zero - "don't cap and trade".
Entertainingly enough, another event occurred last week. National experts have determined that carbon quotas would be harmful for many industries - because they could move to Asia or elsewhere. So they have agreed on a list of 164 industries out of 250 industries that should remain unrestricted.
They produce 77% of the carbon dioxide from manufacturing. ;-)
In other words, many people begin to realize what we have known from the beginning - that the only way how the carbon restrictions may be survivable is when they are virtually undetectable, too.