Archive for April 26th, 2007

The Carbon Credit Scam

al-gore.jpg Fiona Harvey and Stephen Fidler in London writing for the Financial Times published Wednesday (April 25, 2007) an article titled: Industry Caught in Carbon ‘Smokescreen.  This is an article about “carbon credits” that the likes of algore and his Hollywood buddies are “purchasing” to provide cover as they continue to be some of the largest offenders on the planet all while complaining about the rest of us damaging the environment and contributing to what they call “man made” Global Warming.  You see they can lecture us about Global Warming because they claim they have a “carbon neutral” footprint.

    

     Allow me to digress right here and ask this: even if it were true and they actually had a “carbon neutral” footprint what good would that do since I though it was necessary for us to REDUCE greenhouse gases in order to save the planet.  So if there is an open market trading system that abusers (algore, etc) can access to purchase credits that are available from people that have or are investing in a smaller footprint it seems to me that this is a zero sum game.  Lets further examine this scam and fraud that the writers for the Financial Time are exposing.

    

     Start with this, the Carbon Market is unregulated and is expected to grow to a number north of $68 Billion by 2010.  This is a potential scandal that could make Enron’s energy trading scam look like a church bake sale.  The Financial Times is suggesting that these credits are being purchased for offsetting reductions that often are not actually taking place.  But isn’t it the algore’s of the world that are ostensibly the victims here?  No, not really.  Their Quid Pro Quo is the “cover” it provides them.  This trading scheme never made much sense to me as a viable market that would achieve anything and I suspect that algore knows that too, but what they are actually purchasing is credibility on a politically hot issue without having to walk the walk as they talk the talk.  For goodness sake, they can afford this bit of “goodwill” if they can continue to hog resources yet not diminish their political or celebrity viability.  Here are some other interesting findings of this investigation:

■ Widespread instances of people and organizations buying worthless credits that do not yield any reductions in carbon emissions.

■ Industrial companies profiting from doing very little – or from gaining carbon credits on the basis of efficiency gains from which they have already benefited substantially.

■ Brokers providing services of questionable or no value.

■ A shortage of verification, making it difficult for buyers to assess the true value of carbon credits.

■ Companies and individuals being charged over the odds for the private purchase of European Union carbon permits that have plummeted in value because they do not result in emissions cuts.”

     I think it is time that the media and controlling political establishment in Washington (the Democrats) start doing their job and bring some credibility to the flippant claims of all these offenders who operate without ever having to account for their self described “honest” measures in this area.  But before I close here I will re-assert my position that I believe the predominate cause of Global Warming is Solar Activity (duh – heat comes from the Sun, right?) as previously stated in my post of 4/25/2007 The Missing Honey Bees   and not from “man made sources.” 

UPDATE::::::::::   Here is another relevant link to an article from the AP concerning a DVD coming out refuting algore’s movie “An Inconvenient Truth” and a separate controversey surrounding this new DVD.  This DVD also takes the position that increased Solar Activity is the primary cause of Global Warming.  I found it at the Conversations with Brit and Grit blog……thanks for the tip fellows.  ……..stevereenie

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