It’s conceivable that years from now, America’s media will be reporting one of the biggest frauds in history: the idea that a wealthy person, for instance, soon-to-be-Dr. Al Gore, can purchase “carbon credits” to offset his lavish lifestyle making him quote “carbon neutral.”
Given the media’s love affair with the former vice president as well as advancing man-made global warming hysteria, few American press members have dared to expose this hoax for what it is.
However, on Wednesday, an impeccably reputable publication, the Financial Times, published an article that is a deliciously inconvenient truth for folks like Gore, Laurie David, Sheryl Crow, and all the rest of the alarmists that are actively involved in what years from now will be considered one of the biggest scams ever (emphasis added throughout):
Companies and individuals rushing to go green have been spending millions on "carbon credit" projects that yield few if any environmental benefits.
A Financial Times investigation has uncovered widespread failings in the new markets for greenhouse gases, suggesting some organisations are paying for emissions reductions that do not take place.
Others are meanwhile making big profits from carbon trading for very small expenditure and in some cases for clean-ups that they would have made anyway.
Yikes. Think Charlie, Brian, or Katie might report this anytime soon?
Regardless of the answer, FT outlined its findings:
■ Widespread instances of people and organisations buying worthless credits that do not yield any reductions in carbon emissions.
■ Industrial companies profiting from doing very little – or from gaining carbon credits on the basis of efficiency gains from which they have already benefited substantially.
■ Brokers providing services of questionable or no value.
■ A shortage of verification, making it difficult for buyers to assess the true value of carbon credits.
■ Companies and individuals being charged over the odds for the private purchase of European Union carbon permits that have plummeted in value because they do not result in emissions cuts.
Amazing. Now, imagine for a moment that these companies were in either the oil, electricity, or healthcare industry committing such a fraud. Do you think this would be headline news?
If your answer is "Yes," why do you think this will be totally ignored?
I know; it's a rhetorical question.