Confederation of British Industry reacts to proposed penalties

A trade industry group, The Confederation of British Industry, warned that proposed penalties on carbon dioxide emissions will drive companies in various sectors out of the United Kingdom. The group said various sectors such as steel manufacturing, cement making and the chemicals industry will be adversely affected. It urged the government to exempt energy intensive companies from the proposed carbon floor price. “The irony is that these companies are key to the green economy,” said Rhian Kelly, director for business environment at the CBI. “These are chemical companies making lubricants for wind turbines, the aluminum smelters making supplies for electric vehicles and the cement companies responsible for the concrete that glues wind turbines in place,” Kelly explained. (August 6, 2011)