Instapundit.com Instapundit.com

April 28, 2007

CARBON TRADING -- not just a scam, but a government-encouraged scam:

The government department spearheading Britain’s effort to reduce carbon output is driving companies and individuals towards paying under a European Union system for emissions cuts that do not take place.

The Department for Environment, Food and Rural Affairs has also channelled more than half of £215m paid out under a pilot UK greenhouse gas trading scheme to just four companies which spent considerably less than they received on emissions cuts.

The first charge against Defra is that, under a new code of practice, it has been advising businesses and consumers wishing to offset their emissions to buy carbon credits through the EU or a separate UN carbon trading scheme. However, phase one of the EU emissions trading scheme (ETS) has been discredited for giving companies so many carbon credits – effectively permits to pollute – that no overall reduction in emissions took place.

Why am I not surprised?