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Lawrence Solomon: The $7-billion carbon scam
Financial Post ^
| December 5, 2010
| Lawrence Solomon
Posted on 12/07/2010 9:08:56 AM PST by enduserindy
Scam artists from around the world, capitalizing on lax regulations at the Danish emissions trading registry, have made off with an estimated $7-billion over the last two years, according to Europol. Denmarks Office of the Auditor General is now investigating the fraud, which occurred after the Danish registry dropped requirements that carbon traders be documented. While allowing a free-for-all served the carbon market on the short term, by appearing to inflate the interest in carbon as a commodity, it ultimately backfired when much of the trading proved to be phony.
Read more: http://opinion.financialpost.com/2010/12/05/lawrence-solomon-the-7-billion-carbon-scam/#ixzz17RgHIzXh
(Excerpt) Read more at opinion.financialpost.com ...
TOPICS: Crime/Corruption; Foreign Affairs; Government; News/Current Events
KEYWORDS: 201012; agw; cancun; cancunclimatesummit; cancunsummit; carbon; carboncredits; carbonindustry; carbontraders; carbontrading; carbontraitors; ccx; climatechange; conniehedegaard; denmark; globalwarming; hedegaard; ipcc; scams; schemes
I hope its not a double post. Here is the carbon trading manual http://probeinternational.org/library/wp-content/uploads/2010/12/Danish-Emissions-Tradung-Registry-CR-user-manual-oct-08.pdf.
Experience is a brutal teacher, but you learn. My God, do you learn. C.S. Lewis
posted on 12/07/2010 9:13:28 AM PST
(When gunpowder speaks, beasts listen.)
“I'm shocked, shocked to find that fraud is going on within the carbon trading scheme.”
Claude Rains if he was in modern day Copenhagen instead of 1940’s Casablanca.
posted on 12/07/2010 9:19:47 AM PST
(The only crimes that are 100% preventable are crimes committed by illegal aliens)
I understand scam artists made a killing on the Emperor’s new clothes, too.
posted on 12/07/2010 10:04:00 AM PST
(Let the markets work! Reduce the government footprint!)
Sounds like scamming the scammers to me.
posted on 12/07/2010 10:12:02 AM PST
I wonder if CurrentTV will cover this?
posted on 12/07/2010 10:17:57 AM PST
(First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
The Danish Minister of Climate and Energy who oversaw the illusory growth in the carbon market, Connie Hedegaard, has since been promoted to the post of EU Climate Commissioner. She is now in Cancun, representing the EUs interests and arguing for steps that the global community needs to take for the carbon industry to regain credibility.
posted on 12/07/2010 10:20:58 AM PST
Connie Hedegaard, European Politician and Public Intellectual.
posted on 12/07/2010 10:24:02 AM PST
To: enduserindy; Whenifhow; TenthAmendmentChampion; Clive; scripter; Darnright; WL-law; bamahead; ...
posted on 12/07/2010 10:28:10 AM PST
(ObamaCare Death Panels: a Final Solution to the looming Social Security crisis ?)
Pikers. They should have securitized worthless mortgages and sold them around the world.
posted on 12/07/2010 10:30:32 AM PST
do I really have to say it???
posted on 12/07/2010 12:44:58 PM PST
(American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
posted on 12/17/2010 11:13:53 PM PST
no, liberal socialist morons never do learn
they just move on to the next scam pile of b.s.
posted on 12/17/2010 11:45:54 PM PST
(12/10/10: Obama just abdicated his Presidency to Bill Clinton at the Tax Policy Press Conference!)
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