Posted on 05/13/2007 8:00:54 AM PDT by blam
Carbon offset cash-in questioned
10:00 13 May 2007
NewScientist.com news service
Some firms are making a killing from schemes designed to curb greenhouse gas emissions, while doing little or nothing in return.
The market in carbon offsets, which allows companies to invest in renewable energy as a way of mitigating their own greenhouse gas emissions - almost doubled in 2006 to $5 billion, the World Bank said on 2 May. According to a recent report in the London-based Financial Times, some of that money is going to oil companies that are simply pumping CO2 into oilfields to extract more oil. They would have done this anyway, so profits from selling the credits go straight into company coffers, with no benefit to new carbon-saving schemes.
"Oil companies are earning credits by doing what they would have done anyway" And under the Kyoto protocol, almost $5 billion will be paid to industries that cut emissions of trifluoromethane - a potent greenhouse gas created in the production of refrigerants. The technology required to cut the gases would cost just $100 million to install (Nature, vol 445, p 595), raising questions regarding the size of the payout.
(Excerpt) Read more at environment.newscientist.com ...
Psst. It’s a money making scam, pass it on.
If it's a scheme - why would you look for a benefit? Unless, of course, you're the person who is collecting the monies from the scheme.
http://www.freerepublic.com/focus/f-news/1775002/posts
Trading Hot Air?
Note from thread:
Excerpt:
China appears to be flooding the carbon trading market with certified emission reductions (CERs) or carbon credits, which are priced lower than those of Indian projects. This is because China has much higher volumes of CERs in the world market compared to India. Each CER represents one tonne of carbon dioxide emission reduction.
As per annual averages, China now accounts for 43 per cent of total CERs registered at the UN, while India accounts for 12.11 per cent. Chinese projects can reduce carbon dioxide emissions by about 36.66 million tonnes per year till 2012, while Indian projects would reduce about 10.17 million tonnes.
Pet Rock anybody?
Another plastic-banana, good time rock and roll bottomless pit of cash to benefit Liberals. Their hypocrisy just slays me!
It is like selling land on the moon.
Now, where did I put those damn chia pets???
Carbon offsets are the greatest scam since the Nigerian e-mails.
There are large corporations that own large tracts of forests. As everyone knows, forests take in CO2 and convert it to oxygen. By benefit of owning the forest, these companies get the carbon credits. It is clearly a scheme that is designed by do-gooders and for do-gooders only. There is negligible impact on carbon emmissions, even if these were a problem to begin with.
I’m selling carbon credits at 1/2 price. No checks please. FReepmail me your account number and pin and I’ll get back to you.
How can “the common man” ever fall for this crap???
$5 billion is the extent to which some Americans have lost their minds in their fanatical rush to appear “environmentally conscious”.
It’s a fake.
Figures that Al Gore would be at the center of this fraudulent industry.
“Some firms are making a killing from schemes designed to curb greenhouse gas emissions,
If you massage this sentence just a bit, there comes a pretty workable description of government (or of Congress):
“They are making a killing...while doing little or nothing in return.”
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