It is no secret that we don’t think much of carbon trading here in the USA. Witness the fact that the much ballyhooed Chicago Climate Exchange has closed up trading for good after the spot price for carbon fell to a nickel per ton. They couldn’t give it away. At that price, had they issued them, the fancy carbon credit certificate paper would be worth more than the carbon itself. I’d actually like to get my hands on those, because they’d sell better on Ebay as novelties and earn a better price.
So, when I read this sentence about the EU carbon market, I couldn’t help but chuckle and think it makes a good QOTW:
The European commission’s emergency suspension last week of trading in carbon allowances to put a halt to rampant theft of credits by hackers has been extended indefinitely until countries can prove their systems are protected from further fraud.
Hmmm…”further fraud”… isn’t that an oxymoron when it comes to describing carbon trading?
Story at The Guardian
This shows what can happen when emissions trading doesn’t have proper checks and balances – Carbon trading tempts firms to make greenhouse gas
If you want carbon certificates that aren’t a fraud risk, try these, which are worth exactly what you pay for them:
Get yours here: freecarbonoffsets.com
Now if somebody can just talk some sense into California.