I could go and spend four hours and 300 lines....to explain this, but I'll keep this simple.
The European Union put up a plan to reform the organization's carbon market. Translated? There would be new fees/cost pushed onto CO2 costs for road 'transport' and buildings....starting in 2027.
By 2030, the EU emissions cut would be near 62-percent gone....from the 2005 numbers cited.
It may seem that 'industry' and commerce would pay for this....but it really comes from every consumer, including those who buy European products....from outside of the EU. Everything....has cost added.
The true consequence? Somewhere along 2024, 2025 and 2026....you'd start to notice various European companies which realize they can't produce 'X' at a relative cost....so they start to close unprofitable plants/industry in Europe, and move them to places like India, Mexico, or Philippines.
Around 2027, the EU starts to get warning notes from member states....unemployment has gone up two to five points. The 2028 EU election? It will be under a threat of both left-wing and right-wing activists....possibly creating a weird fringe majority who are focused solely on unemployment numbers and companies shutting down European production.
GDP pains? Yes....across the board.
The inability of EU member states to contribute the same 'money-pot' to the EU? That will start to appear, and the EU will ask why the funds are less.
Somewhere along 2028/2029....this carbon package will be dumped in a radical fashion, with the public asking stupid questions, and getting little in terms of confident chatter.
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