Wednesday, April 20, 2011
Reanimating the Carbon Zombie
The carbon credit bubble has been shrinking, but it hasn't quite popped.
Silly me, I assumed it was fading because most people had finally sussed out the absolute criminality and genocidal lethality of the schemers.
Nope.
In other words, the bubble was fading only because of "governmental uncertainty".
Makes sense. The "science" was always an exiguous variable, basically a public relations campaign to induce governments to create the permitting mechanism. Now that the permitting mechanism is in place, the Mafia circle is complete. Mafia trillionaires can cheaply bribe and blackmail governments to increase, decrease or revise the permits, whatever is needed for their current shorts and longs.
Now occasional disobedience by governmental entities won't slow down the convoluted process, because this Kiln outfit insures against blackmail failure.
Now the bubble can merrily re-inflate, with the Mafiosi gluttonously betting on both sides (and both sides of each side, and both sides of each side of each side, ad infinitum) of the famine, starvation, disorder and tyranny that are speedily overtaking the "real" world as a result of the governmental decisions.
There's only one cure for this. Please, Sheikh Osama, do it again and do it right this time.
Silly me, I assumed it was fading because most people had finally sussed out the absolute criminality and genocidal lethality of the schemers.
Nope.
A carbon credit insurance product developed by Parhelion Underwriting was underwritten by Kiln for a major international bank last week.
Carbon credits developed under the Kyoto Protocol, which are also known as Certified Emission Reductions, are financial assets that can be generated by companies when they remove harmful carbon dioxide emissions or greenhouse gases from the environment through adopting ‘greener' practices.
... Banks can purchase ‘options' to buy carbon credits at a fixed, pre-determined price for ‘green' projects (such as renewable energy or emission reduction activities) that have been approved by the Clean Development Mechanism Executive Board, under the Kyoto Protocol.
These credits can then be traded at a later date, when the current market price is higher than the option price, generating a profit for the bank.
However, as demonstrated by the recent change in regulation by the EU regarding the eligibility of CERs from HFC23 and adipic acid projects, there is a significant risk that credits may become ineligible as a result of decisions made by the EU, which can have a substantial impact on their value.
In other words, the bubble was fading only because of "governmental uncertainty".
Makes sense. The "science" was always an exiguous variable, basically a public relations campaign to induce governments to create the permitting mechanism. Now that the permitting mechanism is in place, the Mafia circle is complete. Mafia trillionaires can cheaply bribe and blackmail governments to increase, decrease or revise the permits, whatever is needed for their current shorts and longs.
Now occasional disobedience by governmental entities won't slow down the convoluted process, because this Kiln outfit insures against blackmail failure.
Now the bubble can merrily re-inflate, with the Mafiosi gluttonously betting on both sides (and both sides of each side, and both sides of each side of each side, ad infinitum) of the famine, starvation, disorder and tyranny that are speedily overtaking the "real" world as a result of the governmental decisions.
There's only one cure for this. Please, Sheikh Osama, do it again and do it right this time.
Labels: Carbon Cult
¶ 6:25 PM
