Organized Crime in Charge of EU Carbon Trade, Europol Says

[JMJ]

http://www.youtube.com/watch?v=oL-e3...layer_embedded

First, there was ClimateGate – the scandal with hacked emails suggesting scientists have abused data for research on global warming. Now, another international climate scandal is emerging that may have an impact on the talks in Copenhagen.

Europes top police body Europol, the closest thing that European Union has to the American Fbi, has exposed a massive fraud with the unions official market in carbon credits, the Emission Trading System.

The fraud is costing tax payers in a handful of European countries more than five billion euro – 7 billion dollars – and raises doubts about the effectiveness of carbon trading as a measure to curb emissions.


http://www.infowars.com/organized-cr...-europol-says/

The Hague - The Netherlands.

The European Union (EU) Emission Trading System (ETS) has been the victim of fraudulent traders in the past 18 months. This resulted in losses of approximately 5 billion euros for several national tax revenues. It is estimated that in some countries, up to 90% of the whole market volume was caused by fraudulent activities.


http://www.europol.europa.eu/index.a...s=pr091209.htm

[H2FC]

Its kinda reminds me of our banking industry and wall street operations.

Obviously there are greedy scammers in every business....I don't see what this has to do with the climate talks in Copenhagen......but I'm not surprised to see the green skeptics trying to use it to their advantage.

[HarveyJ]

Because every other financial & trade management system based on derivatives of actual goods, products and services has not actually had any negative involvement from organised crime and are totally perfect systems...

Ooops...

EVERY system that manages negotiable goods and services is open to exploitation, and will be exploited until regulation prevents it. Enron, anyone? That was crime far better organised than any of this is, I assure you, and it was criminal.
It's why you're better of actually having a direct carbon tax... Except most people are Fing morons, have no idea what tax actually does other than the few things that piss them off, and instantly get angry at anything that's called a tax.

[JMJ]

Enron, anyone?

Al Gore's buddy, Ken Lay came up with the carbon trading scheme... Oops