More smoke and mirrors
Last July 26 I voiced scepticism at the effectiveness of the carbon trading system to reduce global warming. This week I read the following in the Sunday Times relating to a coal fired power station to be built in India by Tata (the company which owns Land Rover, Jaguar, Corus and Tetley Tea.
When the plant ....becomes operational in 2011 it will emit 25.7m tonnes of Carbon Dioxide a year - more than any power station in Britain. Yet it will be classed by the United Nations as a source of Clean Power . That means Tata will be able to sell surplus carbon credits established under the Kyoto Treaty to firms in the West. Energy firms will be able to buy these credits as an alternative to reducing their own Carbon Dioxide emissions. It is estimated Tata could earn £30m from such sales.
Allowing for journalistic inaccuracies and jingoism I still do not understand how this benefits anyone other than the energy firms involved.