Posted by: Grant | December 1, 2013

Carbon Offsets Market Collapse.

 ~meThe ALP/Greens coalition, despite doubling our power prices with “renewables”, was actually going to achieve the tokenistic 5% cut to our “emissions” by buying CDM carbon credits overseas.
This, as this article shows, however, is now doomed because the carbon credits racket has totally collapsed!

Capture-1http://in.reuters.com/article/2013/11/29/us-un-carbon-idINBRE9AS0H520131129

Investment under the U.N.’s $315 billion Clean Development Mechanism (CDM) has ground to a halt as the value of the credits they generate has plunged 95 percent in five years to around 0.30 euros, crushing profits that investors count on to set up carbon-cutting schemes in the developing world.”

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