Who says you can get rid of entitlements? WUWT covered this issue over HFC-23 production previously in The biggest environmental scandal in history.
It seems it is about to get bigger. China just decided to blackmail the brilliant minds soon to be attending the Durban Climate Conference, aka COP-17.
The burning question is; what would Angelina Jolie do?
China Threatens Massive Venting of Super Greenhouse Gases in Attempt to Extort Billions as UNFCCC Meeting Approaches – MarketWatch
WASHINGTON, Nov. 8, 2011 /PRNewswire via COMTEX/ –
In the run-up to the international climate negotiations in Durban later this month, China has responded to efforts to ban the trading of widely discredited HFC-23 offsets by threatening to release huge amounts of the potent industrial chemical into the atmosphere unless other nations pay what amounts to a climate ransom.
…In a shocking attempt to blackmail the international community, Xie Fei, revenue management director at the China Clean Development Mechanism Fund, threatened: “If there’s no trading of [HFC-23] credits, they’ll stop incinerating the gases” and vent them directly into the atmosphere. Speaking at the Carbon Forum Asia in Singapore last week, Xie Fei claimed he spoke for “almost all the big Chinese producers of HFCs who “can’t bear the cost” and maintain that “they’ll lose competitiveness”.
…”Attempting to force countries into squandering billions on fake offsets that actually increase production of greenhouse gases is extortion,” said Samuel LaBudde, Senior Atmospheric Campaigner with the Environmental Investigation Agency (EIA). “China is not the victim here, and a world order responsive to climate change cannot be predicated on unrepentant greed.”
Full story here. h/t to Tom Nelson