Fraud within Europe's carbon credit trading system has cost taxpayers more than $7 billion

More proof that the whole cap and trade scheme is just a huge moneymaking scheme came to light in Europe as police discovered that carbon trading fraud has cost governments $7 billion in the past 18 months.

European fraudsters steal $7B in carbon credit scam

Fraud within Europe's carbon credit trading system has cost taxpayers more than $7 billion in the last 18 months, European police said Friday.

Officials at Europol, the body in charge of co-ordinating police forces inside the European Union, say fraudulent activity on the EU's Emission Trading System was first suspected in late 2008 when police noticed the volume of trades in certain countries would mysteriously spike.

"It is estimated that in some countries, up to 90 per cent of the whole market volume was caused by fraudulent activities," Europol said.

Since late 2008, the total value of fraudulent activity is believed to be in excess of five billion euros ($7.7 billion Cdn) from bogus trades in European unit allowances, or EUAs, the credits that companies in some countries buy to offset their greenhouse gas output.



Read more: CBC News

I wonder how much of that graft went into Al Gore's pockets?

Originally posted by FortAnthem
I wonder how much of that graft went into Al Gore's pockets?

That's the first thing I thought of when I read the title to your thread. "I wonder how much money went into Al Gore's pocket?"

CAP AND TRADE IS AND ALWAYS HAS BEEN A SCAM!

Even the FAR Left knows this and is spreading the word. Pretty much ANYONE not making money or informed knows this.

www.storyofstuff.com...

These lefties still buy into the Hype but at least they REPORT the truth about cap & trade.. OR CAP & SCAM.

Fraud within the carbon credit system? I DONT BELIEVE IT, NOT A WORD!

I think we have reached the point where even discussing whether 'global warming' is real or just a giant fabrication is now laughable. If I had the time I would write a book about it. Well, maybe a trilogy of books about it.

reply to post by FortAnthem


Is it really a surprise?



Had the wrong one. Now check it.



[edit on 19-3-2010 by randyvs]

A majority of the human race will not do anything without a personal gain factor, whether it be power or money. And 'Cap and Trade' has a bunch of both for those who are 'concerned about the environment' and only want to 'help the human race and the Earth' by controlling all energy trading and use on Earth. This whole 'manmade global warming' fiasco from the beginning was all about power over the world population and truckloads of stolen money for a select few people globally, from Al Gore down to the 'scientists' in the IPCC. If someone were actually concerned about the CO2 levels in the environment, do you think he'd fly personal jets to all his 'speeches'?