The Tip of an Iceberg

There are few things as toxic as a bad metaphor. You can’t think without metaphors.
Mary Catherine Bateson—scientist

It is metaphor and trite phrases day here at the St. LouisOoz. Let us begin with the hens have come home to roost.

Interpol has discovered a fly in the ointment of the Danish emissions trading registry, see http://opinion.financialpost.com/2010/12/05/lawrence-solomon-the-7-billion-carbon-scam/#ixzz17RIo17Jm. While their Johnnie-come-lately CO2 trading registry initially upped the ante for the carbon market, the bottom fell out due to $7 billion in fraud. All good things come to an end, but $7 billion ain’t bad, and in only two years; one cannot expect these fraudsters to get rich overnight.

It seems that the Danish emissions trading registry had 1,256 registered traders, and most of them were fly by night crooks. Finding the bad apples was a can of corn because some of the crooks were so blatant they used parking lots as business addresses; it did not take a rocket scientist to ferret them out. Still, what should one expect when one is in the business of selling hot air? Now, some 1,100 have been deregistered and placed in the dustbin of history.

While everyone thinks there is no such thing as a free lunch, it is not true when it comes to CO2 trading. Connie Hedegaard, who oversaw the Danish Minister of Climate and Energy, its trading registry and its pie in the sky growth in the carbon market, managed to make a silk purse out of a sow’s ear. For her innate ability to look the other way, she has been promoted to the post of EU Climate Commissioner. She is now basking in the sun of Cancun, Mexico, where, when she isn’t extolling the merits of CO2 Trading, she is soaking up the CO2 warmed rays while her country shivers in snow belly deep to a tall mule.

The Danish CO2 trading scheme is as common as mud. Perhaps there has never been an endeavor so riddled with corruption, and when viewed on its worldwide scale, it is not a pretty picture. With everyone discovering that climate is as changeable as the weather, and just as unpredictable, CO2 trading is winding down and finding its days are numbered. It is long past time to rid ourselves of this albatross around our neck. Doesn’t the time go fast when you are having fun?

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Published in: on December 7, 2010 at 12:10 pm  Leave a Comment  
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