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Carbon credits are a smokescreenFinancial details are coming to
light
Pay close attention here.
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. 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. It's a scam and it always was. I'm indebted to Warren Meyer at Coyote Blog for running the numbers first. I'm annoyed that this is a deliberate perversion of the free market carefully coached in the language of finance. When it collapses, the blame will be on the free market and not on the scammers who wouldn't know a voluntary exchange from a wealth tax. 
Posted: Fri - April 27, 2007 at 02:19 PM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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