Carbon Credit Mission Impossible

Yesterday, the UN suspended a firm responsible for 50% of carbon-offset certifications, after a spot check carried out in early November at the firm’s headquarters revealed serious flaws in project management.

As international climate talks began last week in Poland, the United Nations (UN) suspended the work of the main company that validates carbon-offset projects in developing countries, sending shockwaves through the emissions-trading business. At its meeting on 28 November in PoznaÅ„, the CDM’s executive board temporarily withdrew Det Norske Veritas’s accreditation after a spot check carried out in early November at the firm’s headquarters revealed serious flaws in project management. Critics of CDM have long warned of possible conflicts of interest, pointing out that private companies such as Det Norske Veritas have a business interest in not deterring customers by being too critical about proposed projects.

Carbon Credit prices have fallen dramatically.

MUMBAI: Prices of carbon credits have fallen to euro 14 per tonne from a peak of euro 20 two months ago – a level, which experts feel, is unlikely to be regained in the short term. The price has come down on the back of a fall in crude prices. CER rates and crude prices are inextricably linked. Crude prices on the New York Mercantile Exchange are ruling below $47 per barrel. Crude had touched a record high of $147 per barrel on July 11 this year, after which it has been declining.

Skeptics have had a consistent position with regard to global warming: actions to reduce GHG emissions would not be worth the investment. The position was strongly vindicated by the original analysis of Ross Garnaut where Terry McCrain reports on page 21 of the Target and Trajectories supplement that:

“The optimal level of Australian mitigation effort — the level that maximized incomes and wealth of Australians — is easily calculated. It would be zero.”

These calculations are described in more detail in Andrew Bolts article: “Garnaut Turns Up Heat on Rudd“. The results of his simulations show that reducing emission by 25% would reduce GDP by 1.6%, while doing nothing would reduce GDP by 0.7%.

KEVIN Rudd’s global warming guru has finally – and reluctantly – exposed the con. Ignore everything the Government has told you. The truth, conceded by Professor Ross Garnaut last week, is that it really is cheaper for Australians to do nothing about global warming.

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0 thoughts on “Carbon Credit Mission Impossible

  1. Every breath you exhale is calculably taxable.
    Breathing in is traditionally free, of course
    But, you are now dependent on credit market liquidty
    Refusing the debth, is your option to expire

  2. Every breath you exhale is calculably taxable.
    Breathing in is traditionally free, of course
    But, you are now dependent on credit market liquidty
    Refusing the debth, is your option to expire

  3. Emperor Obama does have a planet of a plan
    Sequister the CO2 by pumping underground
    Cooked to perfection, Gysers of perfectly carated, highly refractive, sparkingly clean coal. The Obama economic cycler uses natural nuclear, and the power plants emit only CO2 and water. — The Jade Emperor outdone.

  4. Emperor Obama does have a planet of a plan
    Sequister the CO2 by pumping underground
    Cooked to perfection, Gysers of perfectly carated, highly refractive, sparkingly clean coal. The Obama economic cycler uses natural nuclear, and the power plants emit only CO2 and water. — The Jade Emperor outdone.

  5. An emitter like an electricity generator gives a compulsory levy to Fed Govt, which amasses a huge pool of $ to give to the worthy and needy. The first act of the worthy and needy is likey to be an increase in activity, which will require more power consumption and cause the emission of more GHG.

    It is very hard to imagine a way to spend money that does not emit GHG.

    Do I need to expand into the power of numeracy?

  6. An emitter like an electricity generator gives a compulsory levy to Fed Govt, which amasses a huge pool of $ to give to the worthy and needy. The first act of the worthy and needy is likey to be an increase in activity, which will require more power consumption and cause the emission of more GHG.

    It is very hard to imagine a way to spend money that does not emit GHG.

    Do I need to expand into the power of numeracy?

  7. #4 Geoff

    “It is very hard to imagine a way to spend money that does not emit GHG”

    The positive feedback will cause runaway economic activity, unimaginable prosperity. Transfer function poles rattling the gates of heaven.

    The trick is to throttle the taxes, so the runaway prosperity does not boil the oceans.

  8. #4 Geoff

    “It is very hard to imagine a way to spend money that does not emit GHG”

    The positive feedback will cause runaway economic activity, unimaginable prosperity. Transfer function poles rattling the gates of heaven.

    The trick is to throttle the taxes, so the runaway prosperity does not boil the oceans.

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