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UK to fight North Sea?s 1.5bn EU carbon burden

2016-06-01 09:25:00| Climate Ark Climate Change & Global Warming Newsfeed

Telegraph: The UK is set to fight an EU loophole which stands to burden North Sea explorers with spiralling carbon emissions costs of 1.5bn in the next decade. The struggling North Sea sector pays millions of pounds to buy 'allowances', which are used to offset the carbon intensity of the electricity it uses on offshore rigs through the EU's emissions trading system. Other energy intensive industries, however, such as steel and cement, are entitled to free carbon allowances, while sectors that generate...

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