Urbin Report

Tuesday, September 23, 2008

Kyoto chickens are coming home to roost in the EU.

By way of AoSHQ is the story on how EU businesses are not happy with the restrictions placed on them by the Kyoto Protocols.

Well, now the chickens have come home to roost. European business leaders are threatening to take their businesses somewhere else where the environmental restrictions are not so damaging. They claim that the new carbon emissions offset programs amount to a "tax" (which they are, the EU just didn't want to call it that) and that the restrictions will cost "44 billion" a year in the next seven years.

China and India have no such restrictions and are exempt under the Kyoto treaty. Germany and Italy (both with some of the highest unemployment in Europe) are starting to wonder if these EU environmental demands shouldn't be scrapped while the head of the EU is confident that Sarkozy, with his environmental revolution campaign promise, will help ram it through the EU council.