The Carbon Credits scam

We said last
month
that Carbon Credits were a scam, promoted by Al Gore and his discredited film,
now its official. The EU carbon credits scam is out.

The FT
reports that the EU emissions trading scheme (ETS) has been discredited for
giving companies so many carbon credits – effectively permits to pollute – that
no overall reduction in emissions took place. 

Many
British companies followed official advice, but were persuaded to pay high
prices for environmentally worthless carbon credits as a result. 

John
Henley, chief executive of MyCarbonWorld, which offered EU phase one permits
for sale at £6.40 per tonne, told the FT: “It’s not a simple case of a gross
margin there. There’s obviously set-up costs, admin costs, dealing costs,
wholesale costs.”

Reflecting
the surplus in ETS permits, the wholesale market price has plunged to less than
€0.50 (£0.34) per tonne. But many intermediaries selling phase one ETS permits
on to companies and consumers charge much more.

Lord
Turner, the former
CBI director-general and the man who headed the government’s
Pensions Commission, was one of those who bought the offsets recommended by
Defra, and has now obviously lost money. He told the FT: “The price was
considerably higher [than today].”


The Carbon
Credits scam is about making a market in trading credits, not about cleaning
up, not about reducing emissions, nothing to do with the environment,
everything to do with making money.

Ineos Fluor
was paid £43m of taxpayers money after
ICI, the previous owner of its Cheshire works, had installed an incinerator
for £6m in 1999 to reduce emissions. The company told the FT it had spent about
half the government money it received on clean-up technology.

 

Stop the Scam now, stop Defra using taxpayers
money on Al Gore’s Scam.

 


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About IanPJ

Ian Parker-Joseph, former Leader of the Libertarian Party UK, who currently heads PDPS Internet Hosting and the Personal Deed Poll Services company, has been an IT industry professional for over 20 years, providing Business Consulting, Programme and Project Management, specialising in the recovery of Projects that have failed in a process driven world. Ian’s experience is not limited to the UK, and he has successfully delivered projects in the Middle East, Africa, US, Russia, Poland, France and Germany. Working within different cultures, Ian has occupied high profile roles within multi-nationals such as Nortel and Cable & Wireless. These experiences have given Ian an excellent insight into world events, and the way that they can shape our own national future. His extensive overseas experiences have made him all too aware of how the UK interacts with its near neighbours, its place in the Commonwealth, and how our nation fits into the wider world. He is determined to rebuild many of the friendships and commercial relationships with other nations that have been sadly neglected over the years, and would like to see greater energy and food security in these countries, for the benefit of all. Ian is a vocal advocate of small government, individual freedom, low taxation and a minimum of regulation. Ian believes deeply and passionately in freedom and independence in all areas of life, and is now bringing his professional experiences to bear in the world of politics.
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