Climate Change Fraud - Because the debate is not over - Who says you can't profit from hot air and ignorance?

Who says you can't profit from hot air and ignorance?

Written by David Biello, sciam.com

Friday, 26 September 2008

That white stuff you see is water vapor. CO2 is odorless, colorless, and invisible.

Carbon Dioxide Auction Launches U.S. Effort to Combat Climate Change

Power plant owners and speculators yesterday bid for the right to emit carbon dioxide (CO₂) as part of a new multistate government program designed to reduce global warming pollution. Interested parties during an online auction offered at least $1.86 per ton of CO₂ emitted; there were 12 million allowances (one per ton) to emit climate change–inducing CO₂ from power plants in eastern seaboard states from Maine to Maryland available in a market known as the Regional Greenhouse Gas Initiative (RGGI, pronounced "Reggie.")

"When your job can provide some social benefit it's exciting and it makes me proud. My kids are saying 'Dad, you've done something about global warming,'" says Phil Adams, president of Worcester, Mass.–based World Energy, Inc., the company that ran the auction. "RGGI is taking a historic step."

The goal is to cut current pollution levels (estimated by the states at 188 million metric tons emitted annually) from the 200-plus power plants in the region by 10 percent by 2019. RGGI builds on the market known as the European Union Emissions Trading Scheme, which covers CO₂ emissions from the E.U., as well as from the ongoing sulfur dioxide emissions market in the U.S.

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