Y2Kyoto: "Carbon Credit" And "Worthless Asset"

“For companies obliged by law to buy carbon credits ... government-led carbon credit recycling means they risk buying a worthless asset.”

The real surprise is that they just figured this out now when every sane honest person knew it the day they heard about carbon trading.

We now live in the age of worthless. Worthless carbon credits, Worthless money, Worthless media, Worthless science and Worthless politicians.

Governments set about to scam the public and are shocked, shocked I say, that they are being out-scammed. Incredible!!

Ideology is blind.

I don't see the problem with this. Isn't it a skill of the green movement to recycle nearly anything.

Faster, please. Faster.

*grabs some beer and popcorn*

I've tried to read that article three times now but I barely get past the headlines when I have to stop. I am laughing so hard my sides hurt.

Now I'm really confused. Recycling is bad in relation to carbon credits? I thought carbon credits themselves are recycled indulgences.

Syncro

I behoves me to agree with ALL the post so far....with an honourable mention to Kevin

"We now live in the age of worthless. Worthless carbon credits, Worthless money, Worthless media, Worthless science and Worthless politicians."

Not just america but the world has reached an difficult stage---to late to work within the system but too early to start shooting the bastards.....but the times they are a changing....

You have to admire the criminal mentality of the Hungarian traders,they'd do the Mafia proud!

The whole bloody thing's a monumental scam, and if someone's stupid enough to buy into it,they deserve what they get. I feel as sorry for them as I do for the junkies who occasionally buy packets of harmless substances on the street in the belief it's heroin.

Whatever happened to that story a few months back about a multi-million dollar carbon credits trading scam in England?

Oh,yeah: http://wattsupwiththat.com/2009/08/19/uk-arrests-in-carbon-credit-trading-scam-organized-crime-said-to-be-involved/

Impossible. The people running these programs are more brilliant,more virtuous,wiser, more worldly and more highly educated than the rest of us. How is it possible that (yet another) one of their marvelous creations could turn into a monster?

Gee, what could go wrong ?!

United Nation bureaucrats and politicians set up a market dealing with an intangible. An intangible with no hope of being monitored and verified, especially in the Third World. And some are surprised when it collapses ?

Bubble meet pin.

"Pop"

Just don't let Gordon Campbell near any of these carbon credits. This guy will recycle anything regardless of actual cost.

"...means they risk buying a worthless asset."

It is not a RISK, it is a CERTAINTY that the vacuous 'asset' of carbon based certificates are worthless.

Carbon based trading is "ENRON ON STEROIDS".

Cheers

Hans-Christian Georg Rupprecht, Commander in Chief

1st Saint Nicolaas Army
Army Group “True North"

"government-led carbon credit recycling"

And that is all you need to know to realize it's a BAD IDEA when governments start talking carbon trade.

Exactly Fred.

We, as a global community are fortunate that it a "billion(s) dollar bubble" and not a "Trillion(s) dollar bubble".

Mark Peters, You went too far. Should have stopped at "all you need to know to realize it's a bad idea is when governments start talking. Leave it at that.

And to think we put Bernie Madoff in jail for fraud

"Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon market is based on lack of delivery of an invisible substance to no-one." Anon.

What could go wrong with that???

I don't see a problem with recycling carbon credits.

Isn't reusing one worthless piece of paper just as effective as acquiring a brand new, never been used worthless piece of paper?

Maybe there should be only one carbon credit and it could be sold over and over. Sure would simplify the bookkeeping.

Bernie Madoff?

Here, I thought all crime was motivated because people were poor.

At least, that's what my money confiscated by taxation is allegedly going to ... you know, if you toss a few crumbs at that lazy bum, he won't break into your house.

Now, that's a real fraud worth stopping.

Heh.

I laughed when I read this until I realized that it just means they will need more gov't to, you know regulate it.
Question: how many bureaucrats does it take to ensure that there is no fraud going on with carbon credit trading?

this can't be true as it is not being reported on CBCpravda in any section, money, business, science or technology.

a billion bucks a year and they ignore the most obvious fraud on the planet.

AGW's "State of Fear".
...-

"Global Warming on Trial
By Dexter Wright

In 2005, the late Dr. Michael Crichton wrote a book of fiction called State of Fear. The plot of the storyline is the exposé of the fraudulent science behind the global warming theory in the middle of a fictitious court case. The book was a bestseller, and in a strange twist of circumstances, it landed Dr. Crichton in front of a Senate committee. Now it seems that life is indeed imitating art.

In the past few years, there have been many court cases concerning the actions of governments to the alleged threat of global warming. The latest has been filed by Texas against the Environmental Protection Agency (EPA) with respect to the Endangerment Finding of Carbon Dioxide (CO2).

Texas has filed two petitions in federal court. The first is a request for review of the endangerment finding, which is intended to examine the science behind global warming. The second is a petition for reconsideration of the finding. These court cases were brought about in the wake of the Climategate scandal. Climategate has revealed that significant portions of the Inter-Governmental Panel on Climate Change (IPCC)'s Fourth Assessment Report (AR4) were based on fraudulent science.

The crux of the matter is that the EPA based the endangerment finding on the now-discredited IPCC report. To date, the IPCC have admitted to two significant erroneous claims. First, they admitted to the fact that the Himalayan glaciers are not melting away, and secondly, they have stated that the claim of the trends of natural disasters attributed to global warming is overstated. Subsequently, the IPCC have been prompted to publicly state that they are reviewing their own quality assurance procedures in light of these admissions.

But now all of this is going to be examined in a court of law. It should be noted that the laws of governments and the laws of science differ very significantly. For example, governments can repeal laws, like in the case of prohibition. By contrast, science cannot repeal the law of gravity. It is this kind of cold, hard fact that lawyers typically are not used to dealing with. If the case of Texas versus the EPA is decided on the scientific facts, as it should be, then the EPA will lose."

http://www.americanthinker.com/2010/03/global_warming_on_trial.html

Eurabia carbon scammers trying to re-scam a UN scam? Thank goodness my carbon trading is now in the able and honest hands of AGWhore & Co., Environauts First Class and inventors of the internet.

All of the above, and especial kudos to Kevin's post at 11:34.

Our municipality purchased 2 Volvo graders yesterday and while the salesman, yes he was a male, was explaining the specifications of the machines he nonchalantly mentioned something about Volvo purchasing carbon offsets during the production process.

Sooo, our ratepayers are getting ripped off in this AGW fraud.

I wonder if we will get our money back when Al Gore, Pachurii et al go to jail? We won't hold our breath.

If you want to know the true value of carbon credits, try paying your taxes with them.

The most astonishing thing from my perspective is that the carbon exchanges actually have people trading in them. Has everyone gone mad?

I am not surprised. I knew we were going to see fraudulent tree plantings, and issuing two certificates per tree as well. Plenty more corruption to come.

Kate:

"Worthless carbon credits"

Thats not a juxtapostion, thats an oxymoron, and that term doesn't adequately express the idiocy of throwing away the millions that have been used to purchase these paper based assets.