Skip to comments.Kyoto team suspends Romania from carbon market
Posted on 08/28/2011 10:56:02 AM PDT by csvset
The Kyoto Protocol committee has blocked Romania from selling carbon credits over concerns about irregularities in the country's carbon emissions data, Romania's environment ministry said Sunday.
In December, Romanian Environment Minister Laszlo Borbely said the country hoped to earn some 1.5 billion euros ($2.2 billion) from selling carbon offsets.
But the committee that monitors Kyoto Protocol compliance decided to suspend Romania from the programme due to "irregularities observed" in Bucharest's 2010 greenhouse gas emissions data, the environment ministry statement said.
The suspension has immediate affect, and Bucharest must put in place an "adequate" system for monitoring emissions before it can resume selling carbon offsets, the ministry explained.
Romania was in talks with two Japanese companies on selling parts of the 300 million carbon credits it had been granted by the Kyoto committee and Bucharest said the money would be used to pay down the national debt.
The environment ministry said it had already begun developing an improved emissions monitoring system so that it could re-enter the carbon market in the near future.
The carbon trading scheme was adopted under the Kyoto Protocol, which sets binding targets for 38 industrialised countries for reducing greenhouse gas emissions by five percent between 2008 and 2012 compared to their 1990 level.
The scheme allows around 12,000 companies including huge multinationals to buy and sell rights to pump industrial gases into the atmosphere.
So Romanians fudged data to comply with a program based on junk science computer models supported by fudged data. Oh, the horror!
government.....the more power they have, the more corruption...
Their economy will never recover from this.
GW is nothing more than a giant money scam. Money money money. Geez, no honor among theives. Who would have thunk.
Just like the “oil for food” scam under saddam, this global warming crap is a funnel of dirty money laundering and fraud.
Please accept my resignation. I don't want to belong to any club that will accept me as a member.
A free market would prevent the Gorites maximization of profits. So remove Romania and profit margins are preserved.
Sounds like Romania’s carbon credit rating has been downgraded. Stay away from Romanian carbon credits.
just who the hell would romania be selling these damned “credits” to anyway? How did this crap get started and why is anyone participating?
The payoff checks to the Kyoto Protocol Committee must have bounced.
The high priest, Al Gore, has had some problems in the sacrificial virgin department.
sheesh, I just read about the kyoto protocol on wiki. I had no idea that crock of sh1t actually passed, nor that only the USA was the sole nation abstaining from that stupidity.
I met with management of a UK-based carbon offset company some years ago. I asked them where they were sourcing their credits and they told me China. End of meeting.
“... I had no idea that crock of sh1t actually passed, ...”
This treaty was a God send for all those tin-pot dictators and various other shady third world leaders. As you can see from the article it is a transfer of wealth from the industrialized nations to the third world. Perfect for making liberals “feel good” about themselves while at the same time skimming enormous profits off of companies and ultimately taxpayers as I’m sure there is a “commission” that is going to whatever favored liberal organization (or maybe just Goldman Sucks and other big banks). I just wish I could figure out a way to tap into some of that money ;)
That’s something that Franklin Raines’ model didn’t account for. He should have been denied a patent. There was no mechanism in it at all for actually measuring carbon savings, and no process outlined for settling disputes.
Something like that. Romania is on the low end of the pyramid scheme.
Can I expect e-mails from Romania asking for some good faith money until Romania can access it's carbon wealth?