The Great Carbon Offset Rort begins


Or is that continues?

The details are over at Andrew Bolt’s blog, but basically what is (widely suspected of) happening is that to the tune of $6 billion, some Chinese and Korean manufacturers are producing more of the greenhouse gas hydrofluorocarbon-23 – the stuff that goes in our refrigerators – than necessary.

Why?

Because the price say, Western Europe, pays these firms to destroy the gas in order to obtain carbon offsets is double the profit these firms would get by simply putting the gas into our fridges.

Hydrofluorocarbon-23 is a much more expensive (because it’s more effective) greenhouse gas than bit player CO2, so it makes economic sense to these companies to produce more than they need and then get paid to destroy it.

Get that? The idea of producing excess amounts of a greenhouse gas – more than they need for their products – so they can reap larger profits by being paid by us to destroy it rather than use it.

Excess profits to the tune of double what they’d make if they’d used the gas properly.

And the credits themselves cost a whopping 70 times more than it does to destroy the gas.

Belatedly, the EU has gotten round to banning HFC-23 offsets but it makes you wonder what other scams will be devised in the future… and what other current scams we haven’t yet heard about (and may never hear about).

PM Gillard’s “Clean Energy Future” is beginning to sound very dirty indeed.

Before the decade is out, Australia will be sending $3 billion per year of its own taxpayers’ money overseas to buy similar offsets all while our actual carbon dioxide emmissions increase.

A hundred million out of the 160 million tons of CO2 we “reduce” by 2020 won’t actually be “reduced” at all but instead “offset”.

And by 2050 almost $60 billion per year off Australian taxpayers’ money will be “offset”.

Could the person who tells me there won’t be massive rorting in this caper also tell me – accurately – next Saturday’s Lotto numbers?

When Julia Gillard or Bob Brown talk about reducing our carbon footprint, what they really mean is offsetting our carbon footprint whilst actually increasing our carbon emmissions, increasing our taxes, and sending those tax dollars overseas.

Advertisements
  1. Hi,
    If labor wins power in the 2013 elections, it will be time to either get out of OZ, or stop working altogether, they will bleed us dry, which I assume is what they want to do, that’s all part of the green communist plan I gather.

    All the hard work people do and pay taxes for what, it will all be going o/seas for absolutely nothing, it is all a scam and why not, you see an opening to make easy money you go for it, that’s human nature. China of course can use blackmail. What is not right is that stupid Governments fall for this crap. Meanwhile our own country goes into poverty, and then we are the 3rd world country.

    • I very much doubt you’ll see Australia go into poverty in your lifetime or even mine, and there are still many strong fundamentals behind Australia’s economy and system.

      That’s still no reason to just throw money away on a whim.

      • No, I think there will be a lot of people living in 3rd world conditions here in OZ, especially for those that will lose their jobs. Even for those people that rent, their rents are going to rise. Councils are saying that because of the electricity rises that the carbon tax will bring, the extra the councils have to pay for street lighting, traffic lights etc. councils said all rates will rise to make up for this, which in turn means all rents will also rise.

        It is going to be a lot harder for people than they realize. Already last year there was just over 20,000 homes here in QLD that defaulted on their power bills, and the carbon tax isn’t even here yet. I stand by what I said, 3rd world conditions are only a few years away for some people as long as labor stays in power.

        3rd world country’s all around the globe still have their rich and upper middle class, some even have a small middle class, as well as people living in poverty.

        Ahh a debate, I haven’t had a good one for a long time. 😀

        • Missed the debate?

          But you hardly presented any premise for a debate.

          You just stated how things are.

          We all know that. That’s how it’s been since forever.

    • Merilyn
    • November 10th, 2011

    Well we are being led by Dumb and Dumber. [Julia and Bob].

  2. According the link to The Guardian, “An environmental group has accused China of climate blackmail after threats to vent powerful greenhouse gases if Europe cuts off carbon credits next year.”
    That’s extortion, not blackmail.

    • Sean of Deer Park
    • November 10th, 2011

    I called MTR today (Chris Smith) to discuss “Who runs/owns the rights of the company that holds the legal licence to trade Carbon Credits/Permits in Australia”. An important question that needs to be answered.

    The girl on the phone said “that’s really interesting. Hang on”. I waited 55 minutes on hold.

    The lady finally come back and said “Sorry for the long wait. Give me your number and I’ll call you back because we are about to go from National broadcast to Victoria only; and I need to change the phone line for Victorian calls. I’ll call you back”.

    “No worries”, I said; after giving her my number. I never did received a return call. What a surprise. NOT!

    The media know exactly who the perpetrators are and seem to be protecting them at all costs.

    My questions for MTR was simply:
    – Who runs/owns the company that holds the license to trade Carbon Credits in Australia?

    Could it be Malcolm Turnbull, Julia Gillard and Kevin Rudd? And a band of ‘merry’ political accomplice’s’?

    Not a difficult ask, but one that seems too hard to answer. MTR never did call back. I wonder why?

    And they wonder why the people can not stand politicians and their lie’s. It makes you wonder.

  1. No trackbacks yet.

Surely you're thinking something...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: