Big Gas and Coal go to War over Carbon

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A group of European gas giants are attempting to kneecap their coal rivals by lobbying for higher carbon emission taxes. Six energy companies with small coal investments have launched a massive lobbying operation in Brussels, led by the CEO of Italian gas behemouth Eni, Claudio Descalzi. In an extraordinary interview this week Descalzi explicitly called for the coal industry to be curtailed in order to allow the renewable and gas industry to flourish:

“We cannot continue to pay $73 billion per year in Europe to promote subsidies for renewables, and then open the door to big coal. It’s not consistent”

Coal emits around twice the CO2 that gas does. By pushing for higher carbon prices, the gas companies are willing to take higher taxes in order to push coal out of business. Gas CEOs might be advised to read up on the Pyrrhic War…


Green News