It Looks As If Carbon Credits Scam Has INCREASED CO2 Emissions
by Ian R Thorpe
One of the world's leading green think tanks, The Stockholm Environment Insitute, in a recent study has concluded that the UN-endorsed, EU backed, carbon offset scheme and market in traded carbon credits, designed to reduce CO2 emissions has actually resulted in a huge increase.
As well as pumping much as 600 million tonnes more greenhouse gases into the atmosphere, the carbon credits scheme has been abused by countries like Russia Ukraine, India and China which have turned them into a massive a money making scam (more on that in a moment).
Vladyslav Zhezherin, one of the co-authors of the study by the Stockholm Environment Institute says:
“This was like printing money.”
Another co-author Anja Kollmuss has told BBC News.
“We were surprised ourselves by the extent [of the fraud], we didn’t expect such a large number.”
“What went on was that these countries could approve these projects by themselves there was no international oversight, in particular Russia and the Ukraine didn’t have any incentive to guarantee the quality of these credits.”
To which the two obvious questions are:
Have any of the people involved in The Stockholm Environment Institute study even actually been to Russia, Chiina, India or the Ukraine or even read an article in the corruption in those countries?
What mind altering drugs are these weirdie beardie looons on, assuming they are actually from earth and not little green aliens?
The corruption they describe is by no means a recent thing and you don't have to go to far flung places to find it. Italy and Greece run on corruption while those EU centres Strasbourg, Luxembourg and Brussels are full of rent seekers and bung takers and the corporate deal makers who swarm the streets looking for them.
The Carbon Dioxide scam dates back to Enron (remember them? the electricity trading Ponzi scheme whose entire business model was based on dodgy carbon credit (rather like Milo in Catch 22 who bought eggs at 5c, sold them at 4c and managed to show a profit on paper - yes Joseph Heller's classic 1960s novel predicted the post millennium economy.
In the early 1990s Enron had helped establish the market for, and became the major trader in a $20 billion-per-year sulphur dioxide cap-and-trade program backed by the US govrnment and investment banks like Goldman Sachs, HSBC and J P Morgan. It was the forerunner of the proposed carbon credit trade which was intended to create a $1trillion per year maket in traded carbon credits. Things did not go according to plan however, mainly because We The Punters are nowhere near as stupid of gullible as the politicians and scientists who were plugging carbon trading.
Here's an overview of that damning report:
Joint Implementation is one of two offsetting mechanisms under the Kyoto Protocol, along with the Clean Development Mechanism. Both allow for projects that are certified as reducing greenhouse gas (GHG) emissions to issue credits for each tonne of carbon dioxide equivalent (CO2e) abated, which can then be transferred for use in another country. CDM projects are hosted by developing countries, which do not have emission reduction commitments under the Kyoto Protocol, whereas JI projects are hosted by countries with commitments under the Kyoto Protocol.
As of March 2015, almost 872 million Emission Reduction Units (ERUs) had been issued under Joint Implementation (JI). Host countries must cancel one of their emission allowances for every ERU issued, but more than 95% of ERUs were issued by countries with significant surpluses of allowances in the first commitment period of the Kyoto Protocol.
Of the six largest project types, only one – N2O abatement from nitric acid production – had overall high environmental integrity; for the rest, additionality seems unlikely or questionable, or unrealistic assumptions were used that significantly overestimate emission reductions. Overall, 80% of ERUs issued came from project types with questionable or low environmental integrity.
Overall, the use of JI may have enabled global GHG emissions to be about 600 million tCO2e higher than they would have otherwise been.
Read all Has Joint Implementation reduced GHG emissions? Lessons learned for the design of carbon market mechanisms published by Stockholm Environment Institute (.pdf)
This is a pure and unadulterated crony capitalist scam was only made possible by the enthusiastic endorsement of greenie-lefty politicians like David Cameron and Angela Merkel and brain dead, cocaine addited idiots like the corporate puppet Barack Obama. But think back, Al Gore took office as US Vice President in 1993 and almost immediately became infatuated with the idea of an international environmental regulatory regime. The Gore family fortune is built on coal and energy, yet Al led a U.S. initiative to review new projects around the world and issue ‘credits’ of so many tons of annual CO2 emission reduction (no possible conflict of interest there of course). Under law a tradeable system was required, which was exactly what Enron (whose founder had business links with Gore) also wanted because they were already trading pollutant credits. Thence Enron vigorously lobbied Clinton and Congress, seeking EPA regulatory authority over CO2.
It does not stop there. Everyone involved in the green circle jerk stood – and stands – to benefit from the scam. These include: privileged countries like India and China.
The largest and easily the most lucrative component of the CDM market, administered under the UN Framework Convention on Climate Change (UNFCCC), is a peculiar racket centred on the manufacture of CFCs (chlorofluorocarbons), classified under Kyoto as greenhouse gases infinitely more potent than CO2. The way the racket works is that Chinese and Indian firms are permitted to carry on producing the refrigerant gas known as HCFC-22 until 2030. But a by-product of this process is HCFC-23, 11,700 times more powerful as a greenhouse gas than CO2. The firms can then destroy the HCFC-23, claiming allocations of carbon credits worth billions for doing so ...
Eco-Bond Villains, like Maurice Strong the secretive and almost unknown one-world-government, global fascism freak and Communist sympathiser who devised the Rio Earth Summit:
Thus we pay billions of dollars to the Asian countries for the right to continue emitting CO2 and other greenhouse gases here in the West, including the £60 million contributed by British taxpayers to keep our civil servants warm. As a result we enrich a small number of people in China and India, including Maurice Strong, who now lives in exile in Beijing, having been caught out in 2005 for illicitly receiving $1 million from Saddam Hussein in the “Oil for Food” scandal. He played a key part in setting up China’s carbon exchange, to buy and sell the CDM credits administered by the UNFCCC – of which Strong himself was the chief architect.
Green gangster NGOs, like the WWF, which stood to make millions from the carbon protection racket:
And what a perfect crime this carbon trading scam is, because if you buy carbon credits you don't buy any coal, gas or oil, you just buy the option to burn coal, gas or oil. GDP is swelled, money is created and if you are an African tyrant whose country has a largeish population, little industry, low car ownership and a tradition of cooking over fires of dried elephant dung, you can sell your free allowance of carbon credits at a disciunt to Al Gore and General Electricv, Koch Bros. Goldman Sachs, HSBC or J P Morgan, (all the lefties' demons, yet the idiotic, university brainwashed Marxist dupes have conspired to help them steal money from the poor). In 2011, the global carbon trading market was worth $176 billion – which, as Austrialian clear thinker Jo Nova reported, was the same value as total global wheat production. Wheat growing supplies about 20 per cent of the total calories consumed by the seven billion people on the planet. Carbon trading pays for Al Gore’s waterside homes, private jets and intimate massages and Maurice Strong's private island, floating palace and whatever else an octogenarian can get up
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