– “The Carbon Credit Scam: Windfall Profits?”

The Carbon Credit Scam: Windfall Profits? | August 1, 2008

Emerging out of thin air, it has already surpassed solar and wind as the largest cleantech industry. Carbon credits were worth a staggering $63 billion in 2007 and $59 billion in the first half of 2008 alone.

The first thought that should be going through your head right now is why aren’t there screams from the eco-commie left about windfall profit taxes on this bogus industry? Because they are profiting from it and heavily invested in it?

Europe has dominating the carbon market since its creation less than five years ago. EU’s Emissions Trading Scheme (EU ETS) was responsible for 70% of the trading in the first half of this year, totaling $47 billion. This dollar amount is likely to increase as the cost of carbon credits soars and with the inclusion of aviation emissions in 2012.

Obviously an industry of this amount of rapid growth opens many business opportunities. Companies are needed to provide verified emissions offsets, energy efficiency audits, greenhouse gas emission audits, and to design carbon software. This industry has gained considerable interest from venture capitalists.

From commenter Jeff, “It’s all about the money. Al invented the crisis & now he is the single biggest financial benefactor. Sure hasn’t made him change his investments in Oxidental nor his over consumptive life style. Remember, do as I say, not as I do.” Well said my friend.

Carbonetworks of Victoria, British Columbia provides software to evaluate carbon footprints and reduction options for businesses, governments, project developers, and consultants. They are located in one of the few areas in North America with a carbon tax. They recently announced the first close of a $5 million Series A round from NGEN Partners.

CarbonFlow of San Francisco is developing software to lower the time and cost of creating carbon credits. They raised $2.9 million in the first round of funding from OVP Venture Partners, Meridian Energy, and Clean Pacific Ventures. CarbonFlow partnered with Det Norske Veritas of Norway for developing and marketing their system.

The infrastructure isn’t fully in place to support such a large industry and business opportunities are plentiful. If the U.S. and China create large-scale carbon trading systems, the sky is the limit for growth in the carbon trading industry.

Although it is great to see action being taken to reduce greenhouse gas emissions, carbon credits can be a way for an organization to throw money at a problem instead of taking action to reduce their own carbon footprint of their operations. The effectiveness of carbon markets has been questioned, yet this industry doesn’t seem to be going anywhere any time soon. Both McCain and Obama support a cap and trade system for the U.S.

And herein lies the problem. The carbon credit industry scam, besides being based on a lie, is completely controlled by the dangerous eco-communist on the left. The profits will be huge, benefiting those very criminals in government passing criminal “global warming” laws to protect their own investments. See the criminality? All at the tax payer expense.

Closing question for discussion. If the oil companies are making too much money, when will the calls for a windfall profit tax be aimed at this sham industry? Pharmaceuticals and Google, to name only two, are sliding under the robber barons radar. Will the carbon credit scam as well?


Published in: on August 3, 2008 at 7:27 PM  Leave a Comment  

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