Climategate

"Carbon (Dioxide) trading is now the fastest growing commodities market on earth.....And here’s the great thing about it. Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon (dioxide) market is based on lack of delivery of an invisible substance to no-one. Since the market revolves around creating carbon (dioxide) credits, or finding carbon (dioxide) reduction projects whose benefits can then be sold to those with a surplus of emissions, it is entirely intangible." (Telegraph)

This blog has been tracking the 'Global Warming Scam' for over ten years now. There are a very large number of articles being published in blogs and more in the MSM who are waking up to the fact the public refuse to be conned any more and are objecting to the 'green madness' of governments and the artificially high price of energy. This blog will now be concentrating on the major stories as we move to the pragmatic view of 'not if, but when' and how the situation is managed back to reality. To quote Professor Lindzen, "a lot of people are going to look pretty silly"


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Thursday 20 January 2011

Analysis: EU carbon theft knocks dream of global market

Reuters
"The EU on Wednesday halted spot trade for one week after the theft of emissions permits worth up to 30 million euros ($40.2 million) and said on Thursday that the new problem could be resolved cheaply and swiftly.

But the theft, possibly a concerted hacker attack, added to clouds gathering around the global future of carbon markets. The latest in a string of scandals, it added to factors discouraging other countries from adopting similar cap and trade systems. ....The EU thefts follow other scandals to derail the carbon market in the past two years, including the re-sale of used offsets, VAT fraud, hacking and an email phishing attack."
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