Tuesday, December 7, 2010

Scam Artists Steal $7 Billion From Carbon Trading Industry

Let's hope some of the money belonged to Al Gore.

From Watts Up With That:

Here’s more clear evidence that the Carbon Trading industry is doomed. Not only has carbon trading been halted in the USA due to lack of a market and ludicrously low prices of a nickel per ton, now it has been learned that in Denmark, more than 7 billion dollars has been lost due to the faulty system. Next step, Nigerian email system.

From Lawrence Solomon at the Financial Post:

Scam artists from around the world, capitalizing on lax regulations at the Danish emissions trading registry, have made off with an estimated $7-billion over the last two years, according to Europol.

Read more here.

Another $2.8 billion carbon trading scam was uncovered in China earlier.

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