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GE issues credit card aimed to cut emissions
Reuters via Yahoo! News ^ | 7/25/07 | Reuters

Posted on 07/25/2007 11:41:56 AM PDT by libertarianPA

NEW YORK (Reuters) - General Electric Co. issued a credit card on Wednesday it says will be the first to cut help U.S. cardholders voluntarily cut emissions linked to global warming.

The card, called GE Money Earth Rewards Platinum Mastercard, allows users the option of automatically contributing up to one percent of their card purchases to buy greenhouse emissions offsets.

In voluntary emissions markets, consumers who feel guilty about their greenhouse emissions can buy offsets, or credits, designed to represent emissions reductions that took place somewhere else, like a solar or wind power farm.

"Earth Rewards cardholders will now have a new tool to complement the ways they are already reducing their emissions," Tom Gentile, an executive at GE Money said in a release. "They can turn everyday purchases into extraordinary rewards."

In addition, GE AES Greenhouse Gas Services, a joint venture between GE and power company AES Corp., said on Wednesday it has strengthened standards for the creation and sale of U.S. greenhouse gas credits. The credits it will generate will meet or exceed international standards, it said, through third party verification and other measures.

The joint venture expects to generate 10 million tons of greenhouse gas credits annually by 2010 under the standard.

A growing voluntary market in greenhouse gas credits has sprouted up as the world's top emitter of heat-trapping gases, United States, does not regulate the pollution.

Last year global greenhouse gas credit trade hit nearly 24 million tones of carbon dioxide equivalent, according to industry watchers.

But the market is not regulated, leading to concerns that some of the credits do not represent real greenhouse gas reductions.

The joint venture's greenhouse credit standard and criteria on the measurement, monitoring, verification and eligibility of emissions credits generated from coal mine methane and landfill methane destruction are available at www.ge-aes.com.

The first customer for the joint venture's credits will the be the Earth Rewards credit card, a company spokesman said.


TOPICS: Business/Economy; Culture/Society
KEYWORDS: agw; carboncredits; emissions; ge; globalwarming
The biggest scam of the 21st century goes corporate.
1 posted on 07/25/2007 11:41:59 AM PDT by libertarianPA
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To: libertarianPA
But the market is not regulated, leading to concerns that some of the credits do not represent real greenhouse gas reductions.

Regulated... unregulated... does it really matter?
2 posted on 07/25/2007 11:43:10 AM PDT by libertarianPA (http://www.amarxica.com)
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To: libertarianPA

Credit cards pass methane gas?


3 posted on 07/25/2007 11:46:55 AM PDT by Ingtar (The LDS problem that Romney is facing is not his religion, but his Lacking Decisive Stands.)
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To: libertarianPA

Can I put carbon credits on my credit card?


4 posted on 07/25/2007 11:50:03 AM PDT by hunter112 (Change will happen when very good men are forced to do very bad things.)
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To: libertarianPA
In voluntary emissions markets, consumers who feel guilty about their greenhouse emissions can buy offsets, ...

Yeah, well maybe I'm just DIABOLICAL!!!

So there! What are you gonna do about that?? Huh?? Huh??

5 posted on 07/25/2007 11:51:25 AM PDT by shekkian
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To: libertarianPA
What's the old saying?

A fool and his money are soon parted.

6 posted on 07/25/2007 11:52:02 AM PDT by lovecraft (Specialization is for insects.)
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To: libertarianPA
Oh-BOY! I'm right on this baby!

< / sarcasm >

prisoner6

7 posted on 07/25/2007 11:55:18 AM PDT by prisoner6 (Right Wing Nuts hold the country together as the loose screws of the Left fall out.)
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To: libertarianPA
Here we go.

"Warmists" have figured out a way to make $$$ out of it.

Kinda' like the lottery....idiots give up their money for so-called "offsets" that are pie in the sky.

Barnum had it right; "There's a sucker born every minute".

If W.C. Field were alive today, he would enjoy this.

* For some reason, this is the first time I have noticed how similar in appearance he is to Bill Clinton. Evidently whoever created this graphic saw the same thing:

Insert eerie "Twilight Zone" music here.

Favorite W.C. Fields line: He's seated on a train, shuffling cards and a gentleman takes a seat across from him at the card table and says "Is this a game of chance?"

Fields replies "Not the way I play it".

8 posted on 07/25/2007 11:55:28 AM PDT by capt. norm (Be thankful we're not getting all the government we're paying for.)
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To: libertarianPA

I just talked to my pet Jackalope....he assures me this is all on the up and up.

Really.


9 posted on 07/25/2007 12:00:19 PM PDT by taxed2death (A few billion here, a few trillion there...we're all friends right?)
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To: libertarianPA
GE issues credit card aimed to cut emissions

GE issues credit card aimed to cut emissions make money for GE by tapping into the popular scam-of-the-hour.

There... Fixed it.

10 posted on 07/25/2007 12:04:16 PM PDT by gridlock (Peace is Not and Option)
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To: taxed2death

Homer: “Not a bear in sight. The Bear Patrol is working like a charm!”

Lisa: “That’s specious reasoning, dad.”

Homer: “Thank you, honey!”

Lisa: “By your logic, I could claim that this rock keeps tigers away.”

Homer: “Hmm; how does it work?”

Lisa: “It doesn’t work; it’s just a stupid rock!”

Homer: “Uh-huh.”

Lisa: “... but I don’t see any tigers around, do you?”

Homer: “Lisa, I want to buy your rock...”


11 posted on 07/25/2007 12:05:58 PM PDT by libertarianPA (http://www.amarxica.com)
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To: libertarianPA

So, what is the going rate for a ton of carbon offsets these days?


12 posted on 07/25/2007 12:07:24 PM PDT by gridlock (Peace is Not and Option)
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To: libertarianPA

From the corporate viewpoint it’s not so much a scam. They are responding to their customers who would go for such a thing.


13 posted on 07/25/2007 12:07:33 PM PDT by jimfree (Freep and ye shall find.)
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To: libertarianPA
I have got to get in on the supply side of this scam. Maybe offer a competing "Mounte Bank" carbon credit card.
14 posted on 07/25/2007 12:08:51 PM PDT by Dr.Deth
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To: libertarianPA

This is going to be great theater after a while. When do you think the first carbon credit scandal will be revealed?


15 posted on 07/25/2007 12:09:53 PM PDT by jimfree (Freep and ye shall find.)
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To: libertarianPA
The offset program will lead to more consumption by environment-conscious customers, which will lead to more manufacturing of goods, which means ______________________________.
16 posted on 07/25/2007 12:17:00 PM PDT by Constitutionalist Conservative (Global Warming Heretic -- http://agw-heretic.blogspot.com)
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To: gridlock

To answer my own question, carbon offsets go for about $12/ton on today’s market.

They typical US home generates about 12 tons of CO2 a year.

So you could buy offsets for a typical American home for $144 a year.


17 posted on 07/25/2007 12:18:33 PM PDT by gridlock (Peace is Not and Option)
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To: gridlock

But, once everyone starts buying $12/ton credits, the price will spiral upwards. In a market where few are buying, the price is cheap. Once we’re locked into an ever-widening obligation to buy, watch out.


18 posted on 07/25/2007 12:24:50 PM PDT by drb9
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To: libertarianPA

See the glory.....of The Royal Scam.....


19 posted on 07/25/2007 12:25:00 PM PDT by NRA1995 (To Congress and Mr. President: This is OUR country, and don't you forget it!)
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To: drb9
But, once everyone starts buying $12/ton credits, the price will spiral upwards.

So, we will just have to subsidize carbon credits for the working poor, who can't afford to pay the escalating prices. After all, a carbon-neutral lifestyle is a right!

The rich, of course, are screwed, as always.

20 posted on 07/25/2007 12:32:05 PM PDT by gridlock (Peace is Not and Option)
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To: libertarianPA
Carbon Credits....the selling of NOTHING
21 posted on 07/25/2007 1:31:08 PM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it)
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