Because he wants to save the world from ‘climate change’, Frances Macron wants to impose an ass-raping carbon tax of 30 euros per ton of CO2 emissions — which is an astounding 6x the current price. If approved by his superiors in Germany, this would equate to a very nice and very large windfall for anyone long carbon credits.

German utilities, namely RWE AG and Uniper SE, said such a plan would crush them — leading to job losses. Those jobs, however, are in the way of progress.

France tried and failed to pull this stunt last year, in an effort to supplement the EU’s Emissions Trading System (lolz) — but failed. The subsequent result was ‘pollution rights’ prices plunged and are down more than 80% since 2008.

Desperate for gains, France thought about doing a unilateral price floor for carbon — but ditched the effort ahead of the Presidential elections because labor unions were chimping out because it’d lead to job losses.

But now that the elections are over and Macron won, France is feeling eager to provide the $48b carbon credit market with stimuli — once again lobbying their German leaders of support their plan.

Leaders from both countries intend to meet this summer to discuss the issue.

The UK placed a similar floor of $22.88 per ton of CO2 emissions, in order to offset ‘social impacts.’ The net result was glamorous tax receipts for the government and a 30% decline in coal powered electricity production.

“The time is the right one today for an initiative that maybe could be generated in France, with quick support of Germany, obviously after the September elections,” Levy said. “It can be done gradually, and it can be done in such a way that it leads to no massive phasing out of production means in the short term.”

The carbon credit racket reminds me of the taxes placed on cigarettes and other tobacco products. Our government claims they do it to mitigate healthcare expenses absorbed on the state level, in addition to serving as a deterrent for mass consumption by making prices too expensive for people to buy. However, anyone taking a look into the profits enjoyed with this tax, in addition to the amount of money raised via the tobacco settlements and subsequent issuance of tobacco bonds, knows they’re full of shit and simply profit, enormously, by imposing taxes on items that people are addicted to consuming.

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