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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. Denmark’s 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.
1 posted on 12/07/2010 9:09:00 AM PST by enduserindy
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To: enduserindy

That number seems small.


2 posted on 12/07/2010 9:12:18 AM PST by ClearCase_guy
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To: enduserindy

Experience is a brutal teacher, but you learn. My God, do you learn. C.S. Lewis


3 posted on 12/07/2010 9:13:28 AM PST by QBFimi (When gunpowder speaks, beasts listen.)
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To: enduserindy
“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.

4 posted on 12/07/2010 9:19:47 AM PST by PATRIOT1876 (The only crimes that are 100% preventable are crimes committed by illegal aliens)
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To: enduserindy

I understand scam artists made a killing on the Emperor’s new clothes, too.


5 posted on 12/07/2010 10:04:00 AM PST by Mobties (Let the markets work! Reduce the government footprint!)
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To: enduserindy

Sounds like scamming the scammers to me.


6 posted on 12/07/2010 10:12:02 AM PST by Cicero (Marcus Tullius.)
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To: enduserindy

I wonder if CurrentTV will cover this?


7 posted on 12/07/2010 10:17:57 AM PST by SteveH (First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
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To: enduserindy
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 EU’s interests and arguing for steps that the global community needs to take for the carbon industry to regain credibility.

Holy Mackerel.

8 posted on 12/07/2010 10:20:58 AM PST by Cicero (Marcus Tullius.)
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To: enduserindy

Connie Hedegaard, European Politician and Public Intellectual.

9 posted on 12/07/2010 10:24:02 AM PST by Cicero (Marcus Tullius.)
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To: enduserindy; Whenifhow; TenthAmendmentChampion; Clive; scripter; Darnright; WL-law; bamahead; ...
 


Beam me to Planet Gore !

10 posted on 12/07/2010 10:28:10 AM PST by steelyourfaith (ObamaCare Death Panels: a Final Solution to the looming Social Security crisis ?)
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To: enduserindy

Pikers. They should have securitized worthless mortgages and sold them around the world.


11 posted on 12/07/2010 10:30:32 AM PST by Wolfie
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To: PATRIOT1876
do I really have to say it???

12 posted on 12/07/2010 12:44:58 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: Chode

bump


13 posted on 12/17/2010 11:13:53 PM PST by newbie2008 (http://www.google.com/reader/shared/11513180806521029900)
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To: QBFimi

no, liberal socialist morons never do learn

they just move on to the next scam pile of b.s.


14 posted on 12/17/2010 11:45:54 PM PST by Enchante (12/10/10: Obama just abdicated his Presidency to Bill Clinton at the Tax Policy Press Conference!)
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