|Cotton Worker with Gujarat Fluorochemicals in background.|
ELISABETH ROSENTHAL and ANDREW W. LEHREN writing for the New York Times:
Profits on Carbon Credits Drive Output of a Harmful Gas
When the United Nations wanted to help slow the alleged man made climate change, it established what seemed (to their warped way of thinking) a sensible system.
Greenhouse gases were rated based on their power to warm the atmosphere. The more dangerous the gas, the more that manufacturers in developing nations would be compensated as they reduced their emissions.
But where the United Nations envisioned environmental reform, some manufacturers of gases used in air-conditioning and refrigeration saw a lucrative business opportunity.
They quickly figured out that they could earn one carbon credit by eliminating one ton of carbon dioxide, but could earn more than 11,000 credits by simply destroying a ton of an obscure waste gas normally released in the manufacturing of a widely used coolant gas.
The problem is that the coolant produced is also deemed, by the alarmists, to be a warming gas, in fact a more harmful gas.That is because that byproduct has a huge global warming effect. The credits could be sold on international markets, earning tens of millions of dollars a year.
That means, critics say, that United Nations subsidies intended to improve the environment are instead creating their own damage.
The European Union has announced that it will no longer accept the carbon credits from these companies in their carbon trading system.
Some Chinese producers have said that if the payments were to end, they would vent gas skyward. Such releases are illegal in most developed countries, but still permissible in China and India.