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The issue caused OPEC to forecast a fall of 180,000 barrels per day in world oil demand this year, 30,000 barrels per day steeper than its previous forecast.
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Analysts forecast a fall of up to 3%.
He had forecast a fall of 5.3percentt, and said the larger decline was caused by the slump in economic activity in the last quarter of 2008 rather than by the carbon trading system.
The company forecast a 2008 profit of $3.15 to $3.25 a share.
Analysts had forecast a 2012 profit of $9.40 a share on revenue of $67.64 billion.
Starts were below the projections of analysts polled by Reuters, who had forecast a 1.677 million unit rate.
Analysts at Numis forecast a fall in profits from $6.45bn to $6.1bn, with the trading outlook in Latin America, North America and Europe remaining tough.
Some analysts forecast a fall in lending across peripheral countries of 10-15% by the end of 2012.Asset sales need buyers, however, and slimming balance-sheets takes time.
Take-Two forecast a 2011 profit of 60 to 70 cents, its first in a year when it will not deliver a new Grand Theft game.
City economists had forecast a fall in the consumer price index to 2.7% last month, down from 4.1% in November, but the figure came out at 3.1%.
Amec Foster Wheeler has lost more than a fifth of its value after the oil services group slashed its dividend and forecast a fall in margins.
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