Thursday, December 17, 2009

Cap-and-fraud fiasco - By LORRIE GOLDSTEIN

Massive scams threaten 'credibility' of carbon trading and could cost us billions

Forget the freak show in Copenhagen to embarrass Canada, led by radical greens with their tiresome "Fossil" awards, shamefully promoted by grandstanding Toronto Mayor David Miller, who "accepted" one claiming he, too, was embarrassed.

Ignore the destructive attacks by Ontario and Quebec on Alberta, proving premiers Dalton McGuinty, Jean Charest and their environmental mouthpieces, are the small men of Confederation.
Ignore the freaks who cut down our flag from Canada's High Commission in London, threatening to smear it with oil, the American "Yes Men" with their juvenile antics and European warmists comparing Canada to Saudi Arabia.
They're all buffoons.
Focus instead on the real scandal as 192 world leaders, including Prime Minister Stephen Harper, gather in Copenhagen for their final, self-laudatory communique on climate change, which will declare victory and propose more UN meetings to save the planet.
The real scandal is that Europol, the European law enforcement agency, has uncovered a massive fraud by large-scale, organized crime in Europe's carbon trading markets.
Rob Wainwright, director of Europol's serious crime squad, told the Telegraph it has "endangered the credibility" of carbon trading.
Police estimate over $7 billion was stolen in just 18 months and say criminals may next target Europe's electricity and gas markets.
Up to 90% of all carbon trading in some European countries -- supposedly to help lower global greenhouse gas (GHG) emissions -- may have been fraudulent.
The U.K., France, Spain, Holland and Denmark were hit. Denmark, according to the Guardian, passed emergency legislation related to the fraud just as the UN climate change meeting in its capital of Copenhagen was getting underway.
Fraudsters would set up in one country, buy tax-free carbon credits from other nations and then sell them domestically, adding on the value-added tax. But instead of forwarding those taxes to the government, they would disappear with the cash and set up somewhere else. Read more.

No comments:

Post a Comment