"Carbon (Dioxide) trading is now the fastest growing commodities market on earth.....And here’s the great thing about it. Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon (dioxide) market is based on lack of delivery of an invisible substance to no-one. Since the market revolves around creating carbon (dioxide) credits, or finding carbon (dioxide) reduction projects whose benefits can then be sold to those with a surplus of emissions, it is entirely intangible." (Telegraph)
Sunday, 14 February 2010
Buying Thin Air
"Cash-strapped Gordon Brown is buying £60,000,000-worth of "carbon credits" for Whitehall and other government offices in the UK, as well as British Nato bases in Europe.While the rest of the country shivers in the cold, with householders wondering whether they can afford their mounting heating bills – inflated by hidden "carbon taxes" to pay for the carbon emissions produced - bureaucrats in their centrally-heated government offices can keep producing "greenhouse gasses", their emissions paid-for by British taxpayers.The details, which were not announced publicly, emerged last week on the EU's official website, announcing a contract to Barclays Capital PLC to buy the credits on behalf of the government's buying agency in Liverpool.They will be bought under the UN's Kyoto protocol "clean development mechanism" (CDM) which allows from third world countries using carbon-reducing schemes such as windfarms to sell "credits" for the carbon dioxide they save – worth approximately £12 a tonne. ....."