Saturday, December 19, 2009

Are "carbon credits" the next oil for food program?

Speaking of Copenhagen, let's talk about carbon credits and the Oil for Food program.

It was a UN managed program that turned into one of the biggest scams in world history!

It was supposed to help children.

It ended up keeping Saddam in power.

The Heritage Foundation wrote about it a few years ago:

"Saddam's dictatorship was able to siphon off an estimated $10 billion from the Oil-for-Food program through oil smuggling and systematic thievery, by demanding illegal payments from companies buying Iraqi oil, and through kickbacks from those selling goods to Iraq--all under the noses of U.N. bureaucrats.

The members of the U.N. staff administering the program have been accused of gross incompetence, mismanagement, and possible complicity with the Iraqi regime in perpetrating the biggest scandal in U.N. history."

Is "cap and trade" next?

Soeren Kern has a great post today:

"The European Union’s flagship cap-and-trade carbon credit trading system is plagued by massive fraud and is effectively under the control of organized crime, according to a December 9 statement issued by European police.

Europol, an EU-wide criminal intelligence agency similar to the U.S. Federal Bureau of Investigation, says bogus trading at the EU’s Emission Trading Scheme (ETS) has exceeded €5 billion (U.S.$7 billion) over the past 18 months alone.

Europol says that in some EU countries, up to 90 percent of the entire market volume is fraudulent."

Soren's post comes on top of the e-mail scandal.

This is bad news, specially since the climate change crowd wants to get into our pockets to finance their schemes.

Let's count to 10 before we sign up for any of this stuff. I am not crazy about sending money to unaccountable bureaucrats!



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