The real number after some calculations might not be 43 million króner.
The difference comes from the two "normal systems" of measuring this. One is Carbon equivalents, the other is CO2 equivalents. To convert a carbon equivalent into a CO2 equivalent is easy enough though, just add the number with 44/12 (reason).
One website which hosts nearly all relevant numbers to Faroe Islands and Kyoto is the U.S. Energy Information Administration, part of the Department of Energy.
The Faroe Islands emitted 190.000 tons of carbon dioxide equivalents in 2005. Now this number is assumed to be correct. It is what the world community thinks we emit at least. If it is correct then it costs 43 mill a year to completely neutralize green house emissions from the Faroe Islands.
My current caution is that I actually think it lists the Faroese emitted carbon equivalent, which brings the CO2 equivalent to 696000 tons.
In any case, 1 ton of CO2 costs €23 on the European Climate Exchange. Now the question is it 190.000 tons or 696.000 tons? In either case the demand of Connie Hedegaard that we get a 8% reduction is peanuts.
The conventional view serves to protect us from the painful job of thinking.
- John Kenneth Galbraith
The 8% reduction effectively halts all future industrial development in the Faroes, not to mention, negates all future oil-production in the Faroese sea-area.
That means, that we can have the industrial capacity that we have today (bar to none) and the fishing fleet, as long as we can make it cleaner and greener by app. 8%.
One (1) oil platform hitting oil and starting production in the Faroese area, will produce CO2, that will approximately be on the same level as the entire Faroese output today.
The lost revenue will be enormous.
No decision is so fine as to not bind us to its consequences.
No consequence is so unexpected as to absolve us of our decisions.
Not even death.
-R. Scott Bakker. 'The Prince of Nothing'
