Today, the Norwegian national budget will be presented. While there will be a lot of money to support carbon capture and storage, as well as a lot of money for the worlds forests. However, the budget will also show that we are not using enough on climate.
In 2010, Norway exported 77,954,000 tons of crude oil, the equivalent of approximately 245 million tons of CO2. A CO2-quota in the EU market has had a price between 12 and 30 euros for ton. This means that the CO2 cost of the Norwegian oil exports is between three billion and 7.3 billion euros. This corresponds with the current exchange rate between 22 and 54 billion Norwegian kroner.
In 2010, the Norwegian government’s transfer to the oilfund was 181 billion Norwegian kroner. This means that we ought to, just to compensate for the CO2 from this oil, (I have not included gas, condensate and NGL export) should use between 12 and 30 percentages of the oilfund on stopping climate change at least if we wish to make up for the problems we are causing.
In this context, the costs to establish CO2 capture and storage are trivial. If we want to have a clean conscience for our oil export, we should spend far more each year to find ways to mitigate greenhouse gases from our oil.
The EUobserver reports that the car industry in Europe yet again have won the battle agains stricter emission rules. The European Union had originally decided that the average car produced in the EU could not emit more tan 130 grams of CO2 per kilometre by 2012. The date is now pushed to 2015, and fines for non-compliance has been reduced.
The EUobserver writes:
In the European Commission’s original car emission reduction proposals, which have been all but gutted, the companies were to have introduced the reductions on all cars sold in the EU by 2012. Instead, there will be a phase-in to allow car companies to adjust.
The commission had originally pushed for €95 across the board from 2012, but under the deal, firms will now be fined five euros per car for the first gramme that exceeds the limit, €15 euros for the second gramme and €25 for the third. For four grammes and above, car companies will be fined €95 for each gramme. After 2018, however, the €95 fine will be imposed on the very first gramme that breaches the cut-off.
This change will probably make emissions from new cars in Europe rise slightly in the coming years. From an average of 158 grams per kilometre to 164 grams per kilometre.
The car industry, backed by the major car producing countries has managed to kill a car fuel-efficiency law in Europe for the second time in a decade,” said Jos Dings of Transport and Environment, a Brussels-based environmental group.
It is mainly the German car producers that have lobbied for less strict standards. Generally they produce heavier and more polluting cars than the French and Italian producers. The German government has been involved on the industries side for a long time. EUbusiness wrote last December:
Chancellor Angela Merkel and the powerful German auto industry slammed a European Commission proposal Wednesday to slap heavy fines on car-makers that fail to meet emissions targets.
So, we know where the power sits. No surprise I guess.