EuroPol, the EU law enforcement organization, reports that carbon trading is up to 90% fraudulent:
EuroPol provides a helpful diagram (PDF) explaining how "carbon credit carousel fraud" works (click image to enlarge):
Some Americans may be jealous of these rich opportunities that the EU offers to criminals. Do not despair, however, because the Democrats hope to start a similar cap-and-trade scheme here in the US.
The European Union (EU) Emission Trading System (ETS) has been the victim of fraudulent traders in the past 18 months. This resulted in losses of approximately 5 billion euros for several national tax revenues. It is estimated that in some countries, up to 90% of the whole market volume was caused by fraudulent activities.Hat tip: Instapundit and Volokh Conspiracy
EuroPol provides a helpful diagram (PDF) explaining how "carbon credit carousel fraud" works (click image to enlarge):
Some Americans may be jealous of these rich opportunities that the EU offers to criminals. Do not despair, however, because the Democrats hope to start a similar cap-and-trade scheme here in the US.
No comments:
Post a Comment