The Obama-Waxman-Markey and Boxer-Kerry global warming cap-and-trade bills now before Congress are modeled in part on the Danish CO2 Quotas Register. But things don't look good for the Danish climate change initiative, according to the Copenhagen Post Online:
"Police and authorities in several European countries are investigating scams worth billions of kroner, which all originate in the Danish quota register. The CO2 quotas are traded in other EU countries.
"Denmark’s quota register, which the Energy Agency within the Climate and Energy Ministry administers, is the largest in the world in terms of personal quota registrations. It is much easier to register here than in other countries, where it can take up to three months to be approved.
"Ekstra Bladet reporters have found examples of people using false addresses and companies that are in liquidation, which haven’t been removed from the register.
"One of the cases, which stems from the Danish register, involves fraud of more than 8 billion kroner. This case, in which nine people have been arrested, is being investigated in England.
"The market for CO2 trade has exploded in recent years and is worth an estimated 675 billion kroner globally."
Friday, December 4, 2009
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