On the eve of this week's Group of Eight summit that is to include climate change talks, Europe's pollution costs jumped to record levels.
With gasoline becoming more expensive, the costs, including pollution penalties, for industries using other fuels have been rising sharply. Leaders of the leading industrialized nations open their summit Wednesday in Scotland and climate change talks are expected to be a major item on their agenda.
Against this backdrop, carbon dioxide emission costs in Europe rose to a record $34.92 a ton on Monday, the Financial Times reported.
As fuel costs rise, utilities are burning more coal and paying more for the permits to allow them to increase their pollution levels.
The increase threatens some industrial companies that may pass on increased costs if power and pollution prices remain high, the Financial Times said. Power prices in Germany, France and the United Kingdom also reached record levels Monday.
Copyright 2005 by United Press International
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