This is one reason why this country does not need a national carbon cap-and-trade market system. The New York Times is reporting that the EU's cap and trade market has been besieged by fraud, including a recent access code theft resulting in $4 million in losses.
How in the hell does transferring the pollution quota from company to company REDUCE overall pollution? If my company saves 500 tons of emission, then some company that polluted 500 tons more than allowed can buy my quota. The net result is still the same amount of population. All this carbon trading is nothing, but a tax on business production.
Taking away the gains made in reducing pollution through improving technologies, how has the carbon trade system actually helped to pollution?
Exactly. It is an easy way for the central world banks to make money.
This includes access code thefts and value-added taxes being added to carbon permits sold to businesses, but not paid to governments.
Source: New York Times
Carbon trading is a system that caps the amount of carbon dioxide, the main greenhouse gas, that companies may emit each year. Companies exceeding their quota can buy extra certificates from those companies that succeeded in shrinking their carbon footprint by adopting environmentally friendly technology or modifying production in other ways.
How in the hell does transferring the pollution quota from company to company REDUCE overall pollution? If my company saves 500 tons of emission, then some company that polluted 500 tons more than allowed can buy my quota. The net result is still the same amount of population. All this carbon trading is nothing, but a tax on business production.
The system is the main tool used by the European Union to meet its ambitious pollution-reduction goals.
Taking away the gains made in reducing pollution through improving technologies, how has the carbon trade system actually helped to pollution?
Many economists say trading provides the most economically efficient way to reduce pollution...
Exactly. It is an easy way for the central world banks to make money.
But since the start of the system in Europe, coal-burning utilities have earned windfall profits, while the prices of credits have never been high enough for long enough to force utilities and businesses to replace conventional power with significant amounts of renewable energy or other clean sources.
Other forms of shady trades have beset the carbon markets in Europe.
This includes access code thefts and value-added taxes being added to carbon permits sold to businesses, but not paid to governments.
Source: New York Times
No comments:
Post a Comment