Sunday, December 05, 2010

More carbon scams

Another carbon disaster. These environmental scams are costing an awful lot.

Scam artists from around the world, capitalizing on lax regulations at the Danish emissions trading registry, have made off with an estimated $7-billion over the last two years, according to Europol. Denmark’s Office of the Auditor General is now investigating the fraud, which occurred after the Danish registry dropped requirements that carbon traders be documented. While allowing a free-for-all served the carbon market on the short term, by appearing to inflate the interest in carbon as a commodity, it ultimately backfired when much of the trading proved to be phony.

Aided by lax rules, the Danish emissions registry became the world’s largest, with 1256 registered permit traders, most of them fake. As one example, a registered trader used a London parking lot as his address. Following the discovery of the scam, some 1100 of these have been de-registered, leaving scant few traders in the Danish market.


Powell lucas said...

This shouldn't come as a surprise to anyone who frequents Blogging Tories; we've known from the start that this was a dog-and-pony show designed to sucker the gullible (which includes the politicians and the MSM) and enrich the crooks.

bertie said...

You mention the Politicians and MSM.Don,t forget the fools who think they know better and lecture you for driving big cars etc.IE.Suzuki the bug doctor.And the biggest culprit of all,the ordinary citizen who won,t educate himself,but will believe this BS GW, no questions asked.Thank goodness we now have the blogs to counter the MSM lies with the truth.I still like the old saying "friends don't let friends believe in GW or vote Liberal"

I Support Lord Black