Oops, the EU's carbon trading scheme actually increased CO2 emissions, a lot

In some fashionable circles carbon credits are useful, mainly for "printing money." However, their ability to actually reduce greenhouse gas emissions turns out to be just so much hot air.

That's the finding of a new report from the Stockholm Environment Institute, which investigated carbon credits used to offset greenhouse gas emissions under a UN scheme. As one of the co-authors of the report put it, issuing these credits "was like printing money."

Here's the scoop from The BBC:

In other words, carbon credits are a total farce.

You'll note that this is essentially the same scheme being pushed by Barack Obama and his Green Goons at the EPA. The "right people" get richer, and the environment gets hosed.

Perhaps worst of all are the perverse incentives the SEI report alleges these credit swaps have created for actually increasing emissions. According to a study released in the journal Nature Climate Change, plants in Russia "increased waste gas generation to unprecedented levels once they could generate credits from producing more waste gas," resulting in an increase in emissions as large as 600 million tons of carbon dioxide — roughly half the amount the EU's ETS intends to reduce from 2013 to 2030.

Pretend to save the planet by generating more CO2, all while profiting handsomely! What's not to like?

On the plus side, given this context, Obama spewing a few tons of CO2 flying Air Force One to Vegas so he can lecture us about reducing our greenhouse gas emissions doesn't seem so out of line. Because hey, if his Euroweenie buddies can get away with paying lip service to the gods of Climate Change, why should he bother to practice what he preaches?

Oh, and don't forget how George Soros is "suddenly" buying up coal company stocks, at fire sale prices. Prices engineered by Barack Obama. The profits from which Soros will then use to help put Hillary Clinton in the White House, and probably underwrite a good chunk of Obama's "post-presidency" to boot.

Yes kids, Climate Change is a fraud. And we're the marks.

Posted at 12:03 by Chris Wysocki   [/agw]   Comments | Perm Link |
Technorati Tags: carbon-credits AGW climate-change greenhouse-gas CO2 emissions   |   Tweet