Posted by
Anticontrarian on Thursday, April 26, 2007 11:47:34 AM
Ann Coulter mockingly compared them to buying indulgences. Enron built up a huge fortune (on paper) simply by proposing trading in them. OTOH, apologists for the hypocritical lifestyles of talk-green, live-carbon-black enviro-nazis Al Gore and John Edwards have claimed that if you’re rich enough, you don’t actually need to behave in an environmentally responsible way; you can just dig into your pocket and pay a carbon sin tax.
Now the Financial Times has weighed in, finding that the carbon credits scam isn’t producing any real environmental benefit but instead is just allowing wily users of the system to game it for profit.
“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.”