A study by the Government Accountability Office (GAO) determined that the United States funded the Intergovernmental Panel on Climate Change (IPCC), the United Nations’ authority on alleged man-made global warming, with $31.1 million since 2001, nearly half of the panel’s annual budget.
The GAO also found that this funding information “was not available in budget documents or on the websites of the relevant federal agencies, and the agencies are generally not required to report this information to Congress.”
Investigators claim a 55-year-old man, presumed to be the mastermind, used several companies to trade 602 million kroner’s worth of quotas illegally. His son is indicted for fraudulent deals of 294 million. A third man was also allegedly one of the main participants.
The association that represents Chinese airlines, including Air China, China Southern Airlines, China Eastern Airlines and Hainan Airlines, has said its members will
not abide by the European Union Emissions Trading Scheme, which on January 1, 2012, was extended to international airlines that use European airports.
But Delta’s fee scheme represents more than just another indignity for passengers. It lays bare the entire carbon-trading boondoggle. If airlines simply foist the fees off on customers, then they have no incentive to actually reduce carbon emissions. Other fees, however exorbitant, at least are tied to a passenger benefit — a checked bag, a meal, a change of itinerary. What do passengers get for a carbon fee? The right to fly on an airline that pollutes more?
And what if the carrier pollutes less? The fees, at least in Delta’s case, are added up front. What if the airline winds up coming in under its carbon limits? It would actually then make money by trading its excess carbon credits, yet still collect fees from passengers as if it weren’t in compliance. In the end, the EU’s new rules underscore the fundamental problem with carbon trading — it creates far more profit-making opportunity for the traders and the companies that game the system than it does carbon-reducing opportunity for society.