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| Subject: So we agree carbon trading is a scame | |
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Author: Oropan |
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Date Posted: 15:39:12 04/26/07 Thu In reply to: Stephen 's message, "These are common problems with emissions trading" on 13:54:55 04/26/07 Thu And Al gore is leading it!....the big crook >I believe emissions trading was created by George HW >Bush. It was an diotic scheme in the first place. It >did not reduce the problem where it was needed but >rather simply allowed some businesses to make money >off of others. > >In the end, the ones thta made the most money were the >brokers. > >Apparently the Europeans are now learning this lesson >for themselves. > >The sad thing is that during Kyoto negotians, the USA >pushed for emissions trading. EU did not want to do >this. But in a last-ditch effort to keep the USA in >the treaty. Of couse Bush dropped the whole thing and >stuck the rest of the planet with the task of saving >the environmental while he and his major donators ran >a propaganda war against Kyoto, EU, and science. > > >>Industry caught in carbon ¡®smokescreen¡¯ >>By Fiona Harvey and Stephen Fidler in London >> >>Published: April 25 2007 22:07 | Last updated: April >>25 2007 22:07 >> >>Companies and individuals rushing to go green have >>been spending millions on ¡°carbon credit¡± projects >>that yield few if any environmental benefits. >> >>A Financial Times investigation has uncovered >>widespread failings in the new markets for greenhouse >>gases, suggesting some organisations are paying for >>emissions reductions that do not take place. >> >> >>ADVERTISEMENT >>Others are meanwhile making big profits from carbon >>trading for very small expenditure and in some cases >>for clean-ups that they would have made anyway. >> >>The growing political salience of environmental >>politics has sparked a ¡°green gold rush¡±, which has >>seen a dramatic expansion in the number of businesses >>offering both companies and individuals the chance to >>go ¡°carbon neutral¡±, offsetting their own energy use >>by buying carbon credits that cancel out their >>contribution to global warming. >> >>The burgeoning regulated market for carbon credits is >>expected to more than double in size to about $68.2bn >>by 2010, with the unregulated voluntary sector rising >>to $4bn in the same period. >> >>The FT investigation found: >> >>¡ö Widespread instances of people and organisations >>buying worthless credits that do not yield any >>reductions in carbon emissions. >> >>¡ö Industrial companies profiting from doing very >>little ¨C or from gaining carbon credits on the basis >>of efficiency gains from which they have already >>benefited substantially. >> >>¡ö Brokers providing services of questionable or no >>value. >> >>¡ö A shortage of verification, making it difficult for >>buyers to assess the true value of carbon credits. >> >>¡ö 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. >> >>Francis Sullivan, environment adviser at HSBC, the >>UK¡¯s biggest bank that went carbon-neutral in 2005, >>said he found ¡°serious credibility concerns¡± in the >>offsetting market after evaluating it for several >>months. >> >>¡°The police, the fraud squad and trading standards >>need to be looking into this. Otherwise people will >>lose faith in it,¡± he said. >> >>These concerns led the bank to ignore the market and >>fund its own carbon reduction projects directly. >> >>Some companies are benefiting by asking ¡°green¡± >>consumers to pay them for cleaning up their own >>pollution. For instance, DuPont, the chemicals >>company, invites consumers to pay $4 to eliminate a >>tonne of carbon dioxide from its plant in Kentucky >>that produces a potent greenhouse gas called HFC-23. >>But the equipment required to reduce such gases is >>relatively cheap. DuPont refused to comment and >>declined to specify its earnings from the project, >>saying it was at too early a stage to discuss. >> >>The FT has also found examples of companies setting up >>as carbon offsetters without appearing to have a clear >>idea of how the markets operate. In response to FT >>inquiries about its sourcing of carbon credits, one >>company, carbonvoucher.com, said it had not taken >>payments for offsets. >> >>Blue Source, a US offsetting company, invites >>consumers to offset carbon emissions by investing in >>enhanced oil recovery, which pumps carbon dioxide into >>depleted oil wells to bring up the remaining oil. >>However, Blue Source said that because of the high >>price of oil, this process was often profitable in >>itself, meaning operators were making extra revenues >>from selling ¡°carbon credits¡± for burying the >carbon. >> >>There is nothing illegal in these practices. However, >>some companies that are offsetting their emissions >>have avoided such projects because customers may find >>them controversial. >> >>BP said it would not buy credits resulting from >>improvements in industrial efficiency or from most >>renewable energy projects in developed countries. >> >> >>href="http://www.ft.com/cms/s/48e334ce-f355-11db-9845- >0 >>00b5df10621.html">http://www.ft.com/cms/s/48e334ce-f35 >5 >>-11db-9845-000b5df10621.html [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: It is not a scam, it's a carefully calculated token economy. | L. | 01:13:38 05/01/07 Tue |
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