Abu Dhabi Breaks Ground on Carbon-Neutral City

From this post:

The world’s first zero-carbon, zero-waste, car-free city goes not to the renewable fuel-crazed U.S., but to Abu Dhabi. The capital of the United Arab Emeriates broke ground on Masdar City earlier this month. If this city actually functions as its supposed to, I think it will be rather impressive. When is the U.S. breaking ground on it’s own carbon-neutral playground?

Masdar CEO Dr. Sultan Al Jaber announced a total development budget for the city of $22 billion. Of that investment total, Masdar (”the source” in Arabic) will contribute $4 billion to develop the city’s infrastructure. The remaining $18 billion will come through direct investments and the creation of various financial instruments to raise needed capital. An essential driver for the development of the city is carbon finance. Carbon emissions reduced by Masdar City will be monetized under the Kyoto Protocol’s Clean Development Mechanism.

Note this paragraph:

The groundbreaking ceremony’s electricity needs and carbon emissions were entirely offset by solar power reserves produced by Masdar’s photovoltaic testing facilities. Since it began producing power for the national grid in December 2007, the facility has generated more than 5,500 kilowatt hours of electricity and saved more than four tons of CO2.

Four entire tons of CO2? You mean the amount that can supposedly be "offset" for maybe 16 bucks?