This is the same scam the liberal left is trying to implement here in the U.S. In Europe, the “carbon trading” system is a scam filled with corruption, corrupt politicians and corrupt crooks who use the system to fund their illegal activities. Just think of it as the ‘environmental mafia.’
The Associated Press reports:
An obscure U.N. board that oversees a $2.7 billion market intended to cut heat-trapping gases has agreed to take steps that could lead to it eventually reining in what European and U.S. environmentalists are calling a huge scam.
At a meeting this week that ended Friday, the executive board of the U.N.’s Clean Development Mechanism said that five chemical plants in China would no longer qualify for funding as so-called carbon offset credits until the environmentalists’ claims can be further investigated.
The “CDM” credits have been widely used in the carbon trading markets of the European Union, Japan and other nations that signed onto the 1997 Kyoto Protocol requiring mandatory cuts in greenhouse gases.
Rather than cut their own carbon emissions, industrialized nations can buy the credits which then pay developing countries to cut their greenhouse gases instead.
This is the scam Obama and Democrats are trying to pass called cap-and-trade. You know, the system that Obama said would cause electricity rates to ‘skyrocket.’ Listen to his own words from the video below folks:
But environmentalists say rich nations could be wasting billions of dollars on what some are calling “perverse financial incentives,” because some of the largest projects funded by the U.N.-managed CDM are a golden goose for chemical makers without making meaningful cuts in emissions.
The money from the CDM-authorized fund goes to pay the carbon offset credits claimed by more than 20 chemical makers mostly in China and India, but also in nations such as South Korea, Argentina and Mexico.
We “rich nations” have been paying China and other countries to continue producing the same products they were supposed to cut.
The chemical makers are paid as much as $100,000 or more for every ton they destroy of a potent greenhouse gas, HFC-23. The price for destroying it is based on its being 11,700 times more powerful as a climate-warming gas than carbon dioxide.
Now I wonder why politicians want to scam Americans with their cap-and-trade policies? It would be another slush fund for crooks, cons and politicians to redistribute the wealth of the taxpayers.
Hey Scotty,
How about getting over your irrational hatred of President Obama and all things liberal, and instead look at ways to solve the real problems with America. In the case of climate change, bashing cap-and-trade, which by the way is a Republican idea, isn’t going make the problem go away. There is fraud in all markets, (remember Enron, Bernie Madoff, Long-Term Capital, etc.), not just environmental markets.
Hey Bill,
It’s not hatred of Obama. I hate his policies, his lies and the fraud he is pushing down America’s throat. Cap-and-trade is a Socialist Progressive idea and right now, Obama and the liberals are trying to push it through. I believe the only Republican thats onboard is RINO Lindsey Graham. There is a lot of fraud inside Washington and it’s coming from politicians. You may believe in the ones who created the mess to be the same ones to solve the mess, but I don’t.
The green energy scam that Obama is pushing is based on the model from Spain. How has that worked for Spain? Their economy is tanking and for every green job created, two private sector jobs are lost. This fits the Obama model perfectly. At a time when most of America is suffering and cutting back on their budgets, why would a President want to pass a scheme that he admits will cause electrical rates to “skyrocket.”
By the way, I’m guessing you’re a liberal because liberals generally think they can tell others what to think and express. Oh the tolerent liberals are hypocrites. Liberals are tolerent in everything but thought. You keep your opinions and I’ll keep mine. Thanks for reading and commenting.
Scotty,
It seems as though you fundamentally misunderstood the article. That article is about carbon offsetting projects which are funded by the selling of carbon offset credits to consumers. We’ve had these in the U.S. for twenty years. Cap and trade is a completely different topic.
Danny
No, as I stated in the opening paragraph, this is the scam the left is attempting to bring to America. You may not know this, but the US is not participating in the Kyoto treaty and the citizens are not subject to any government mandated carbon offsetting schemes…as of now. Cap and trade is the same as the carbon trading scheme. Big corportations that pollute more than small corporations will be allowed to buy “carbon credits” from the smaller polluters, thus producing the same amount of pollution. It is a scam. I think it is you that fundamentally misunderstood the article.
Obama, Al Gore and the Clintons are all tied to the Chicago Climate Exchange (google it) and this is the scheme used to create carbon billionaires. I have a full understanding of this subject.
Thanks for reading