As usual, societies are being fleeced by governments and industries in the name of a crisis.

By giving away greenhouse-gas emissions permits for free, Europe may hand power companies windfall profits of up to 71 billion euros—about $100 billion—and undermine the fight to curb emissions. . .

In Europe, utilities have gotten almost all their emission permits for free, yet electricity rates have risen as if utilities had to pay for their permits. Utilities say that’s only natural, reflecting the “opportunity cost” they incur in not being able to sell their permits into the market. . .

That’s why Europe plans to sell the permits starting in 2013—though several countries and many utilities are screaming to keep the free handouts.