Russ Steele
The Financial Times has investigated the carbon credits business and found nothing but a $100 Billion dollar scam.
Companies and individuals rushing to go green have been spending millions on “carbon credit” projects that yield few if any environmental benefits.
Full story here
As I noted in my presentation on the cost of California’s green house gas regulations:
Carbon credits slide, click for a larger image.
If I were a government employee, or a teacher, would you want your retirement funds invested in a scam? Really?
UPDATE: I was going to post this on my Union Blog, but it is down again.
Keep a sharp eye out for this story. Will we be read about his in the Union, SAC Bee and Chron? If you do please comment, and let me know where you saw the story, and where it was in the paper, front page or buried.
This from NewsBusters
“It’s conceivable that years from now, America’s media will be reporting one of the biggest frauds in history: the idea that a wealthy person, for instance, soon-to-be-Dr. Al Gore, can purchase “carbon credits” to offset his lavish lifestyle making him quote “carbon neutral.”
Given the media’s love affair with the former vice president as well as advancing man-made global warming hysteria, few American press members have dared to expose this hoax for what it is.ooo
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 organizations 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.
