annoytheleft

Cap and Trade Fraud in Europe

In Global Warming on December 20, 2009 at 6:50 am

I am taken aback by the mere suggestion that “Cap and Trade” may not be a Utopian environmental love fest after all.

Fox: In a statement released last week, the Europol police agency said Europe’s cap-and-trade system has been the victim of organized crime during the past 18 months, resulting in losses of roughly $7.4 billion. The agency, headquartered in the Netherlands, estimated that in some countries up to 90 percent of the entire market volume was caused by fraudulent activities.

The whole thing was a scam from its inception; is anyone really surprised by this news?

It’s a lesson to be learned, critics of cap-and-trade say. Creating such a system in the United States would invite “corruption, illegality and criminal activity,” much as it has in Europe, said Max Schulz, senior fellow at the Manhattan Institute.

“This is the problem with politicians trying to create a market for something that the free market otherwise doesn’t value,” Schulz said. “An emissions trading market is an artificially, politically created market….

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