« Holland Exports Abortion | Main | Armed Moonbat Matthew Hunter Kramer Assaults Nevada Republican Headquarters »

April 25, 2007

Surprise! Carbon Offsets Are a Scam

Posted by Dave Blount at April 25, 2007 9:21 PM

It's okay that conspicuously rich moonbats like Al Gore create massive carbon footprints while demanding that the rest of us relocate to the Stone Age, because they wash away their sins against Gaia by buying eco-indulgences — aka carbon offsets. But to the surprise of no one with a triple-digit IQ, it is becoming increasingly obvious that carbon offsets are a scam. Some findings of a Financial Times investigation:

• Widespread instances of people and organisations 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.

Francis Sullivan is the environment adviser at HSBC, Britain's biggest bank, which presumably for publicity reasons went "carbon-neutral" in 2005. He's been studying the carbon offsets market for months, and concludes:

The police, the fraud squad and trading standards need to be looking into this.

Maybe the Goracle and friends had better lay low for awhile.

---

---