Score another big “win” for the climate change cult! One of the cult’s greatest achievements was creating an entirely new market for a non-existent “product” called “carbon credits.” The idea is that some companies, and government operations, produce less of the evil carbon that makes the Sky Gods angry, at least when human beings create it. The climate change papacy decrees how much carbon each operation is allowed to produce. Those who generate less carbon than their allotted limit can sell the excess capacity to corporations that wish to create more carbon, and are prepared to pay for the privilege.
Huge amounts of money change hands, while absolutely nothing is actually created. Behold the wonders of socialist economics!
The carbon credit scam runs on both domestic and international levels. The United Nations has a legal framework for creating Certified Emission Reduction Credits (CERs), established years ago by the Kyoto Protocol. The Washington Free Beacon relates that originally there were only about 600 worldwide projects related to the creation and sale of CERs, but now there are over 4,000 of them.
And guess what? Some of the most lucrative carbon credit mills are located in Iran, North Korea, and the Sudan. Isn’t that wonderful? The worst governments on Earth are raking in millions of dollars by fleecing the gullible idiots who still believe in global warming!
Iran’s good for $26 million worth of carbon credit sales to European companies. North Korea’s cranking out a million dollars’ worth of this artificially created, utterly useless non-product with seven hydroelectric dams. The Sudan takes time off from war crimes and genocide to grab a million dollars for itself. The biggest winner is autocratic Uzbekistan, which hauls in $40 million per year.
Can China play this game, too? You bet they can! The Free Beacon explains how the Chinese government manipulates the system for fun and profit, “going so far as to re-open defunct factories in order to get Europeans to pay them to close them again.”
Of course, since this is a United Nations project, there are questions about just how “certified” these multi-million-dollar carbon credits really are, and where all the money is going. Autocratic, dishonest regimes are milking the system to put cash in the pockets of brutal commissars and dictators, while nations making more sincere efforts to clean up industrial emissions in Latin America and Caribbean get the fuzzy end of the lollipop.
It’s funny how every species of command economics is rife with corruption, isn’t it? Oh, well, if we let the socialists keep trying, maybe they’ll eventually create a government that is both huge and honest. Except that the hour Margaret Thatcher prophesied has arrived, and the socialists have run out of other people’s money to fund further experiments.