The legitimacy of the $100 billion (£60 billion) carbon-trading market has been called into question after the world’s largest auditor of clean-energy projects was suspended by United Nations inspectors.
SGS UK had its accreditation suspended last week after it was unable to prove its staff had properly vetted projects that were then approved for the carbon-trading scheme, or even that they were qualified to do so.
So, the world’s largest auditor of carbon credits doesn’t actually … you know … audit them.
And even worse, the world’s largest auditor of carbon credits can’t even prove that its staff is qualified to audit them.
So, guess what? If an industry’s largest auditor is judged unqualified to audit that industry, this one piece of information is enough to conclude that the entire industry is corrupt. A scam. From top to bottom.
The reason all of this matters in the U.S.:
The episode will be embarrassing for European lawmakers in the run-up to the global climate summit in Copenhagen, where they will attempt to lure big polluters such as America and China into a binding agreement to replace the Kyoto protocol. SGS is the second such company to be suspended – Norway’s DNV was penalised last November for similar infractions.
The EU’s carbon-trading system, which puts a price on pollution through carbon permits that can be bought and sold, is the key element in Europe’s fight against climate change.
The U.S. government is now considering the same type of legislative “solution”. Yes, that’s right, Congress and President Nobel Peace Prize have informed us that we should rush headlong into using this carbon market as the “key element” of risky, expensive new legislation of our very own!
Sure, the EU pooped the bed with its carbon credit schemes, but we’ll be smart about it! Our legislation to use taxes to whip the climate into shape will actually work!
Hmmm. I’m no genius, but I like to think I know a load of bullshit when I see it. And friends, that looks like pure bullshit to me.
Especially when you consider that the planet is actually cooling, and has been cooling since 1998.
And guess what? The biggest auditor in the world before SGS was DNV in Norway. They lost their accreditation too. Same reason.
“Science”, baby. Can’t you just feel it? Feels like … well, it feels like insanity, frankly.
Here’s the way I see it. The concept of carbon credits is a scam built on junk science for the purpose of separating the gullible from their money. You pay money to some outfit that you never heard of before — but really, you can trust them, don’t worry about it — which supposedly does something halfway around the world to “offset” some tiny amount of carbon dioxide you’ve created with your silly, silly economic activity.
Here’s a true fact: CO2 is only .035% of the atmosphere in the first place. That’s right, point zero three five percent, which is .00035, or 350/1,000,000.
We’ve built an entire financial market around the idea that mankind can administer our atmosphere.
I’m thinking the other 999,650 parts of the atmosphere might conspire together to play a slightly bigger role in our climate than the .035% of the atmosphere that is CO2. Not to mention the oceans that cover 75% of the Earth, with their currents and how they affect our weather, which we don’t fully understand yet, and similarly, the upper atmosphere air currents (like the “jet stream”) and how they affect our weather, that we also don’t fully understand. And if we don’t understand it, we can’t model it with computers. And the computer models we do have don’t work to predict past events with very much accuracy.
Am I really supposed to believe that financial instruments can actually counteract the combined power of the Sun, the oceans, and the 99.97% of our atmosphere that isn’t CO2?
No thanks, but you go right ahead.
Then we have the inconvenient truth that carbon dioxide is basically food for green growing things. Remember learning about photosynthesis in biology? Still happens! But now, according to our EPA, it’s also a toxic pollutant. All those trees and plants enjoying their CO2 didn’t get that memo. Funny how natural laws don’t really listen to corrupt, ignorant bureaucrats, isn’t it?
And then you have the fact that when buying these carbon credits, you aren’t paying for a real product. Sure, they say they’re planting a tree to offset your disgusting CO2 pollution, you ignorant slob, but how do you really know? From what I can tell, all these projects are approved by those organizations that created the financial markets in the first place, like the Chicago Climate Exchange (CCX).
And then they are audited by, well, who knows? That’s kind of the point here. How can any of us really know what the hell is going on with any of this?
By the way, just for grins … the latest market price at the time of this writing (Oct. 2009) for carbon credits is down around 10 cents, from an initial price of $7 a few years ago.
So, lots of powerful institutions are holding long positions on this load of crap. As such, they will try to convince us — purely for financial reasons, not because its true — that carbon credits are a steal because they are under-valued, or they have lots of room to grow, or they’re “green”, or are otherwise just fan-freaking-tastic!
I’m here to tell you that the real reason these dogs are priced at 10 cents is because they are a fundamentally crazy idea that encourages corruption and graft and bestows unearned legitimacy on the idea that CO2 is a pollutant.
Stop the insanity. Please. You’re killing me over here, as opposed to CO2, which is just doing what CO2 does: feed plants. Like it always has.
If you really want to help the environment, why not try the “Reduce, Reuse, and Recycle” system? It’s free, and it might actually accomplish something. And as a bonus, it is not a scam wrapped up in graft and lies that will harm the economy.
And maybe, plant a tree or two.
(link via The Foundry)