While protests against high fuel prices are sweeping Europe, the EU Council yesterday failed to stop the EU’s new emissions trading system, version 2 (ETS 2) rule that will further increase those prices next year. The Council simply asked the Commission to review the impact of the ETS 2 rules, which expand the sectors that need to buy CO2 certificates in order to compensate for emissions, to truckers, households, and small and medium-sized enterprises (SMEs), which were not covered by the previous ETS rules. ETS 2 is focused on energy and fuel producers—fuel suppliers pay and pass on the costs.
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EU Council: ‘Review’ Carbon Tax Impact
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