Shell Will Freeze EU Investments Over Emissions Permits
Royal Dutch Shell says it will stop investing in Europe if utilities are forced to pay for emissions permits through auctions, Thomson Financial reports. The permits are currently free.
“I am talking about $250 million of profits at the moment,” said Shell France director Christian Balme. “If we extrapolate the price of CO2 by the tonne, we arrive at the same level, which is unacceptable.”
The European Commission proposed cuts in greenhouse gas emissions by 20 percent by 2020 from 1990 levels in its climate change package in January.
Energy Manager News
- Senators National Energy Policy Vision Leads to a Hopeful Future
- Google Builds Data Center on Site of Old Coal Plant
- EPA Honors 3 Facilities for Combined Heat and Power
- Cheese Factory Installs Anaerobic Digestion
- Certification Program Established for Green Button Standard
- Diesel Genset Market to Reach $68B by 2024, Navigant Says
- Emulsion Mist Collectors Designed for Heavy Industry
- IKEA Plugs In Fuel Cells at California Store