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".

Describing the EU's ETS as having "limited benefits and embarrassing consequences", the report said there was fading political support for the scheme, the price was too low to have any significant environmental impact and it had provided windfall profits to market participants, paid for by electricity customers.

The report's criticism of the EU's ETS follows Barack Obama's confirmation last week that the US would not have a cap-and-trade scheme and Canada's refusal to implement an ETS.

http://www.businessspectator.com.au/bs.nsf/Article/UBS-slams-EU-carbon-scheme-report-pd20111122-NURHJ?OpenDocument&src=hp29

This is direct confirmation that the world's largest carbon pricing experiment has failed, and that direct action would have been far more efficient.

loot and plunder
bankers and teqnoc=rats..beuro rock rats and paid policing 'adgencies'...corperate theft...tax by stealth

ngo's spending..all that nice cash/credit and our pensions
getting bailout wwhen bailout is far from their due

guess where our extra compulsorry..super will go
the same places..the same elites sitting on different boards

but heck thats the plan man
tax the peons into early graves

im going back to reading
the words of michael's destiny album
before i cant stop crying..bout

the new unity euro bond
[where all the debt goes to the natzies..
allready much abused to the tune of quater a trillion is previous bailouts]

try the lyrics for
'thats what you get for being polite'

i like bless his soul better
but the lyric..from things i do for you,destiny and push me away
they wwere channeld direct from god

[be ware lest we bankrupt angels unawres]
that you stole from the least and crimminally gave to criminals

leaving the ignorant with the debt carrying the full cost
why cant the good see ol shadow..

mate..[has fear blinded them?]
do good people do bad things?

yes its time to play the bad albumb
have fun..

the posters are strangly silent today