clothcap (clothcap) wrote,

Deliberate Fraud? 3. Carbon Credits

Carbon credits are a known boondoggle.

Also known as Emissions Trading Scheme or Scam, ETS. CERs and carbon indulgences.

So why is it it a scam? First the claim is that they reduce emissions. They are in fact legal permission to continue emitting CO2.

Daily Mail 01.06.2009 The great carbon credit con: Why are we paying the Third World to poison its environment?

In the fields around this giant chemicals factory in Gujarat, the barren soil smells of paint stripper and the water from the well makes you gag. So why has it been given tens of millions of pounds of taxpayer-funded UN ‘green reward points’, which are traded hungrily on the financial markets at huge profit? (More)

Companies that sell them suggest that they lead to trees being planted.
Sometimes they do. The David Suzuki site has a page that explains why that is a problem.
However, I don't have a particular issue with tree planting in that forests regulate the climate and more is good, less extreme weather events. But, as I said, where it happens. Too often old trees are felled and saplings used to replace them merely to get money.

Other boondoggles that are claimed to reduce emissions are invested in by the likes of Gore and Stern in return for credits that are then sold but the fact is they don't reduce emissions.
Windfarms increase emissions.
Danes are clear cutting a forest to plant giant wind turbines. Felling trees causes soil bound CO2 to be released plus that from the felled trees.
Case studies showing wind energy increases emissions and increases fos fuel use:

The easiest way to reduce emissions from fos fuel energy generation is to gift the wind farms to countries that can benefit from them, like Africa.

Biofuels increase emissions.
Use of U.S. Croplands for Biofuels Increases Greenhouse Gases Through Emissions from Land-Use Change (2008)
U.S. biofuels policy drives deforestation in Indonesia, the Amazon (2008)
New studies show biofuels increase carbon emissions (2008)
Palm oil biodiesel can increase greenhouse emissions by 2,000% (2009)

Biofuels are less efficient than fos fuel, mileage per gallon reduces as biofuel content % is raised, and they accelerate wear on engines. Worn engines emit more CO2 because they are less efficient. They also use more fuel. Biofuel from soy also produces much more CO2 than comparable petrol or diesel combustion.

Carbon capture and storage, CCS was shown to be boondoggle in the Fraud 2.

The EC-EU has caused countries to legislate emissions limits. It has given billions to India and China in credits for not building chem plants. They sell them back to the West. China has an agenda to build a coal fired plant every week until 2030. I doubt India is far behind. They aren't dim, they don't and won't capture the CO2 from them unless someone else pays them. The only justification for such gifts of credits and public purse money is to move wealth to China, India, Africa and Swiss bank accounts.

CRC - carbon reduction commitment
The Carbon Reduction Commitment Energy Efficiency Scheme (CRC) is a new mandatory emissions trading scheme that aims to reduce the amount of carbon dioxide (CO2) emitted in the UK. This is vital to achieving the UK's overall targets of reducing greenhouse gas emissions by 2050 by at least 80% compared to the 1990 baseline.

That is codswallop. There is not only no need to reduce emissions, there is no way to achieve such far left of ecotard lunatic pipe-dreams without killing the economy stone dead as in Spain and California. That means carbon credits instead. Who benefits? Traders, bankers, gov'ts of China, India, Africa, the Maldives, etc. and Swiss bank accounts. And the EU by fining CO2 emitters, i.e.  those gov'ts that signed nations up to Strong's sado-masochistic Kyoto con and didn't buy into the carbon credit scam.

Fraud 1. Maldives, Tuvalu, sea levels
Fraud 2. Carbon Capture and Storage (CCS)
Fraud 3. Carbon credits
Fraud 4. The Wind Energy Boondoggle
Supplement to Fraud 4. Wind Energy
Fraud 5. Biofuel Boondoggle
Fraud 6. AGW by CO2 is settled science (by consensus)
Fraud 7. The IPCC - Its Reason For Being


Carbon credits have become such a profitable commodity that market speculators – hedge funds, banks and pension funds – have enthusiastically bought into them. Traders buy and sell credits issued by both the UN and EU schemes. For trading purposes, one allowance or Certified Emission Reduction (CER) is equivalent to one ton of CO2 emissions.

These credits can be sold privately or on the international market. Louis Redshaw, head of environmental markets at Barclays Capital predicts that ‘carbon will be the world’s biggest commodity market – and it could become the world’s biggest market overall.’


Tags: carbon credit boondoggle, carbon credit fraud, ets fraud, politics

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