How To Game the Carbon Markets

Environmental Capital - WSJ.com : Laughing Gas: How To Game the Carbon Markets

So this is the Kyoto Protocol in action: A marginally-economical chemical factory in an industrial superpower finally installs 1970s-era technology to clean up its act, and as a result makes 30 times more money by selling “carbon credits” to fight global warming than it makes by selling chemicals.

This isn’t a last-ditch effort to upgrade Outer Mongolia—this is a French factory in South Korea.

French Firm Cashes In Under U.N. Warming Program - WSJ.com

Some also question the logic of paying hundreds of millions of dollars to Rhodia for installing pollution-control equipment that cost a bare fraction of that, about $15 million or so, to install. Simply paying for the installation of the equipment "could have done this an awful lot more cheaply," says Patrick McCully of International Rivers, an environmental group.