"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." Richard P. Feynman

Monday, June 28, 2010

Green Money-Making Scam With UN Carbon Credits

The Mafia is in a small league compared with the crooks rorting the UN Carbon Credit system. EU Referendum reports that refrigerant gas HCF 23 Carbon credits are worth up to 70 times what it costs to manufacture the gas - a nice little earner for the financial blowflies buzzing around the bloated UN global warming money machine.
How to get rich was our subject for discussion last December as we reported how the CFC scam, mainly in China and India, was making entrepreneurs obscenely rich out of selling carbon credits. Now, six months later, Le Monde has picked up exactly the same story (translation here), complaining that CFCs have become the main source of CDMs.

Half a billion tonnes of CO2 (equivalent) "saved" through the CDM between 2004-2012 have come from the destruction of HCF 23. As we pointed out in our piece, this is the by-product of HCF 22 production but, so lucrative has the CDM business become that the by-product has become the product.
We now have the perverse consequences, says Le Monde, that because the price paid for the destruction of gas is up to 70 times the actual cost of production, it is now being produced in order to generate carbon credits.
Manufacturers have increased their production, thereby artificially and deliberately maintaining high levels of HCF 23 production, which would not exist if there was no financial incentive from carbon credit sales. And it is now estimated that these abuses have allowed the industry to collect one billion dollars annually.
Thus, concludes Le Monde, we see the absurd situation in which one "device" of the UN – the Kyoto Protocol - encourages the production of a gas, while another "device" of the UN - the Montreal Protocol - seeks its eradication.
Only the greenies could invent such a stupid, malign system – and then keep schtum about it as money pours into the coffers of carbon traders and opportunists. 

It is high time to get rid of the incompetent UN  and their highly paid un-elected bumbling bureaucrats!

1 comment:

  1. The UN is the most corrupt organization on
    Earth. The united States needs to exit it.
    The only way that is possible, is to elect
    anti-UN senators, representatives, and an
    anti-UN president. I personally take no heed
    to any UN ideas or concepts. If they want to
    pass these on to me, it will be met with deadly
    force.

    ReplyDelete