The Guardian reports today that the process controlled the creation and sale of carbon credits in support of the Kyoto climate change treaty is a shambles and rife with incompetence and corruption. Its article estimates that as much as 20% of the reported savings are in doubt. This hasn't slowed the generation of massive profits in the nearly created market. The invisible hand of the market; isn't it magnificent to see it at work?
This will, of course, just be more ammunition in the hands the Decider(TM), his minions and their allies in the energy industry to scatter confusion and doubt. It does, however, begin to explain why so many American commercial enterprises have suddenly been pushing the Bush administration to make a move on climate change and especially to create American carbon markets; they see low hanging fruit just ripe for the picking.
This will, of course, just be more ammunition in the hands the Decider(TM), his minions and their allies in the energy industry to scatter confusion and doubt. It does, however, begin to explain why so many American commercial enterprises have suddenly been pushing the Bush administration to make a move on climate change and especially to create American carbon markets; they see low hanging fruit just ripe for the picking.
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