Carbon Offset Scam

Lots of money changing hands. No reduction in carbon. Bernie Madoff is probably kicking himself for not being dishonest enough. If only he had been this crooked, he'd still be on the street and hailed as a hero. And the SEC is going after Goldman Sachs?

By misrepresenting carbon offsets as a surefire way to make up for emissions, the argument goes, companies incentivize activities that harm the environment instead of encouraging behavior that reduces carbon emissions in the first place.

“It assuages guilt, at least,” Skar said. “Offsets should only be considered when you’ve maxed out your other efforts. If you are concerned about carbon emissions, your own actions should be what you take responsibly for, and offsets should be the icing on the cake.”

The same perverse incentives potentially exist for corporations, which purchase the vast majority of carbon offsets. To correct the problem, several governments have tightened regulations regarding what offsets corporations can purchase, as well as when they can purchase them.

Read more: http://dailycaller.com/2010/04/22/as-earth-day-dawns-hell-of-a-lot-of-money-to-be-made-on-carbon-offsets/3/#ixzz0lpasPyGr