European Union lawmakers will probably take one or two years to fix an oversupply in the bloc’s carbon market as they deal with more urgent economic and political problems, according to Bank of America Corp.

“With what’s happening with Europe, given the huge problems Europe has, I don’t see policy makers focused on this,” Sabine Schels, an analyst at the bank, told delegates today at the Emart energy conference in Amsterdam. “There’s not enough political will.”

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