Within eight years, the EU “Green” policy will cause diesel prices to increase by 50c a litre and home heating costs will double, causing serious hardship for Irish families warns International report
The Cambridge Trust for New Thinking in Economics has issued a warning that “there is the potential to leave low-income households ‘stranded’ using heavily-taxed fossil fuel technologies as a result of the high up front costs of low-carbon alternatives or energy renovations, and other barriers to take-up such as the lack of incentives for landlords to invest in these technologies” reports WLR.
The Cambridge Trust Study has warned that diesel price hikes of 50c a litre, and a doubling of home heating bills, on average, could be seen in 2030 if the EU relies only on carbon markets to achieve emissions cuts in road transport and homes.
Sofie Defour, climate manager at environmental think-tank Transport & Environment (T&E), said: “This study shows how foolish it would be to rely only on carbon markets to clean up transport. There is a role for carbon pricing, but that’s mainly in support of more effective policies like car emissions standards, and certainly not at these price levels.”
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