Climategate – Copenhagen And The €5 Billion Carbon Trading Fraud

Carbon Trading the business of the future according to Al Gore and other warmists, the problem with Carbon Trading is that it is as corrupt and dishonest as the religion science behind Anthropogenic Global Warming. Both EU and the Government have been aware of the VAT scams being operated by organised gangs of criminals for several months.

At the begining of December Aardvark blogged about the Danes running a Carbon Trading scam:

Carbon trading fraudsters may have accounted for up to 90pc of all market activity in some European countries, with criminals pocketing an estimated €5bn (£4.5bn) mainly in Britain, France, Spain, Denmark and Holland, according to Europol, the European law enforcement agency.

First, there were those infamous hacked e-mails from the Climatic Research Unit (CRU) at the University of East Anglia. Now, a mere seven days before the Copenhagen Conference on climate change, this breaking news story takes the breath away. The whole ‘global warming’ shambles is falling apart. Today, The Copenhagen Post declares: “Denmark Rife With CO2 Fraud”:

“Denmark is the centre of a comprehensive tax scam involving CO2 quotas, in which the cheats exploit a so-called ‘VAT carrousel’, reports Ekstra Bladet newspaper.

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.”

The Telegraph today:

Carbon trading fraudsters may have accounted for up to 90pc of all market activity in some European countries, with criminals pocketing an estimated €5bn (£4.5bn) mainly in Britain, France, Spain, Denmark and Holland, according to Europol, the European law enforcement agency.

The revelation caused embarrassment for European Union negotiators at the Copenhagen climate change summit yesterday, where they have been pushing for an expansion of their system across the globe to penalise heavy emitters of carbon dioxide.

The Government have know about the Carbon Trading scam for a considerable time; the Treasury Web Site posted this on July 30th 2009:

The UK Government today introduced legislation to remove VAT from supplies of emissions allowances (also known as carbon credits) traded within the UK, in order to prevent the risk of VAT fraud, Financial Secretary to the Treasury, Stephen Timms announced today.

The new law, which takes effect from midnight tonight, follows evidence that commodity trading in emissions allowances is being used by fraudsters to steal VAT revenues from the UK, and that the UK may become a major target for this activity in the coming months. The change will have no effect on legitimate trading but will prevent fraudsters from charging and collecting VAT which they have no intention of paying to HMRC.

Similar measures have been taken by the Governments of France and the Netherlands to prevent this form of fraud. The UK Government has sought a derogation from EU law to cover this short-term action pending agreement with EU partners on an EU-wide solution.

Climategate has shown that the science of Climate Change is built on lies, fraud and deceit, the Carbon Trading industry that it has spawned is every bit as rotten as the science that created it.

For all Climategate posts click here

About Tory Aardvark

Climate Realist, Conservative and proud NRA member. I don't buy into the Man Made Global Warming Scam, science is never settled. http://toryaardvark.com @ToryAardvark on Twitter ToryAardvark on Facebook

Posted on December 10, 2009, in Anthropogenic Global Warming, Climategate, Copenhagen COP15, Green Lies, Green Taxation, Social Engineering and tagged , , , , . Bookmark the permalink. 9 Comments.

  1. I cannot believe this is true!

  2. Thank goodness the US Senate and Australian Senate will not pass their cap and tax bills!!

    Perhaps we can begin the persaude other legislatures to row back from their own cap and tax acts.

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