Gaming the Climate Change BureaucracyIn an article from Associated Press, no slacker when it comes to fanning climate change hysteria, it is revealed that Chinese authorities are gaming the system set up to transfer funds from European polluters to third world developers. A taste or the article:
Similar stories are repeated across China and elsewhere around the world, as hundreds of hydro projects line up for carbon credits, at a potential cost of billions to Europeans, Japanese and soon perhaps Americans, in a trading system a new U.S. government review concludes has "uncertain effects" on greenhouse-gas emissions.It seems that projects that have been on the books for years are being represented as new carbon efforts in order to tap into the generous guilt-amelioration program. Clearly things are getting out of hand if even climate alarmists see the flaws in parts of the system. Soon we may see the bloom come off this rose, as the evidence of this massive fraud become too great to sweep under the rug.
One American expert is more blunt.
"The CDM" — the 4-year-old, U.N.-managed Clean Development Mechanism — "is an excessive subsidy that represents a massive waste of developed world resources," says Stanford University's Michael Wara.