It’s about making cash, not cutting gas November 6, 2009Posted by honestclimate in Discussions.
Tags: climate change, global warming
It’s about making cash, not cutting gas
By Andrew Bolt
Herald Sun, November 5, 2009
Even greens say emissions trading is more about hot money than hot air:
The world’s carbon trading markets growing complexity threatens another “sub-prime” style financial crisis that could again destabilise the global economy, campaigners warn today.
In a new report, Friends of the Earth says that to date “cap and trade” carbon markets have done almost nothing to reduce emissions but have been plagued by inefficiency and corruption that render them unfit for purpose…
The carbon market, mainly based in Europe, was worth $126bn in 2008 and is predicted to mushroom to $3.1tn by 2020 if a global carbon market takes off.
However, FoE fears that the area has been hijacked by speculators on the financial markets.
But surely Kevin Rudd’s scheme will be better. Right?