Cheap Carbon Credits: To Japan, From Russia With Love?

Check out the carbon credit insanity here.

Excerpt:

What’s certain is that Japan is chafing under the emission-reduction promise it made under the Kyoto treaty. As we wrote last month, Japan pledged to cut its emissions 6% below 1990 levels by 2012. But as of 2006, Japan’s emissions were 6.4% above 1990 levels – despite all those Prius hybrids that Toyota Motor Corp. sells.