Last week we blogged the news that estimates put 90% of the EUnion carbon trade as fraudulent. EUnion carbon credits are massively used as currency in a VAT (Dutch: BTW) evasion scheme, costing tax-payers about €5 billion.
Nearing the end of last week, EURef was hot on the case of Tata steel (Corus), which stands to earn £1.2 billion by closing a steel factory in the UK. The twist here is that the carbon credits awarded to the factory will remain in the possession of Tata steel, who have already indicated they will sell them off.
Following up, Christopher Booker in his column and EURef explain the links that exist between the Tata group and the UNs top
And now, news reaches us (again via EURef) that in Australia, a previous government has 'gamed' the system of carbon credits as per the Kyoto protocol, to hide the fact that Aussie CO2 emissions rose by 30% over the last two decades, and come up with a seemingly admirable 9% increase of carbon emissions over 1990 levels.
The Australian government was able to do this by hatching a plot, already dubbed 'Carbongate' or 'the Great Carbon Heist', which consisted of a two-part trick. The first part was a special 'Australian clause' in the Kyoto accords, saying that the level of emissions from land clearing in 1990 were part of Australia's base line emission.
The second part of the trick was introducing (seemingly unrelated) legislation which prohibited Australian farmers from clearing land, a staggering 109 million hectares of privately owned land. For which farmers were never compensated, since the land was not technically expropriated. Thus the Australian government effectively “stole’ what has amounted to 83.7 million tonnes of Carbon Credits from private individual landholders and is the sole reason that todays Labor Prime Minister can be heralded as a true warrior of climate change with Australia having met its Kyoto obligation – cost free.
... And you're out?
The three strikes in this post happened all under the aegis of the Kyoto accords. Copenhagen is going to be even more monstrous, with absolutely no effect on the climate. The only thing it will do is to make the lives of ordinary citizens more and more expensive, with 'green' taxes on energy and increased prices on everything else, because factories will pass the costs of emission trading schemes and carbon credits on to customers.
And it is going to make a few, very unworthy, people unimaginably rich. Like Al Gore or Dr. Pachauri. It is the scam to end all scams, the mother of all scams, the... It is BIG! And we should be angry. Murderously angry!