The Fraudulent Warmists Find Themselves Defrauded: WhoWouldaThunkIt?

A true AlGore moment, courtesy of the UK foundation Civitas.

The European carbon market has been temporarily closed after fears that it has been the victim of fraud. Having lost £7 million’s worth of carbon credits, there could be a polluter somewhere in Europe happily belching out their fumes knowing that they won’t be paying for it. This isn’t the first crisis to hit the scheme and the EU should now take a step back and assess if its climate change policies are the optimum way to curb emissions.

The EU’s Emissions Trading Scheme (EU ETS) simply does not work. The EU’s own Law Enforcement Agency has estimated that in 2009, €5 billion of revenue was lost through fraudulent activity and in some countries this accounted for 90% of market activity! While the market cost of carbon credits was €12.5, they were being sold for €1.

OldSouth shares this with you, snowed in here in the South, in a year when AlGore predicted that we would have to explain to young children what snow used to be...

OS will drink an extra cup of hot chocolate in his honor this evening.

By the way, where is old Al, our fellow Tennessean? And why isn't he screaming bloody murder about fraud in these markets he such a hand in creating? One would think his fax machine would be blanketing the world! Perhaps this scam was pulled on scammers, and he doesn't care to bring up the subject?

(OS would use the phrase 'Sound of crickets chirping', but they're all frozen just now.)

Let's ask Tipper, and see what she thinks. She might be able to locate him. Or not.