Did you know that there has been Carbon Credit Fraud in California? Me either.
WASHINGTON -(Dow Jones)- U.S. legislators have obtained a court order unsealing documents in a case involving a multi-million-dollar cap-and-trade fraud.The case involves former California Institute of Technology economist Anne Masters Sholtz.
Republican legislators say the records--due to be opened to the public in early January--could shed light on the potential challenges of policing a new, trillion-dollar commodities market that would be created under climate legislation that Congress is considering.
Sholtz, who helped design a small California cap-and-trade program, allegedly hustled New York Investment firm AG Clean Air out of more than $12 million between 1999 and 2001 by selling fake emission credits.Kind of reminds me of the case of a certain railroad engineer from India who seems to have a lot to do with designing a large world wide cap and trade program.
Despite an estimated $50 million to $80 million in claims against her in bankruptcy filings and nine complaints, she pleaded guilty to one of six counts of wire fraud in 2005. Sholtz received what the lawmakers say was a veritable slap on the wrist for the felony--a sentence of five years probation with one year of home detention.
Funny thing is we have seen the same rot in Denmark. You have to wonder if the whole thing wasn't designed as a fraud from the get go. It starts as scientific fraud and ends up as economic fraud.
If the oil companies were doing something like this people would be up in arms. OH. Wait. Some oil companies ARE in on it.
According to Exxon Mobil chief executive Rex Tillerson, the cap and trade nightmare being primed for passage in the Senate doesn’t go far enough – Tillerson wants a direct tax on carbon dioxide emissions, essentially a tax on breathing since we all exhale this life-giving gas.Tillerson is quite a guy though. He proposes hitting the taxpayer direct in the forehead with the two by four of a direct CO2 tax. Why not? His company will not pay the tax. It will just collect it for the government. Steady business that and the profit is guaranteed by the US taxpayer.
In a speech last month, Tillerson brazenly called out the cap and trade agenda for what it was, an effort to impose a carbon tax camouflaged only by a slick sales pitch and deceptive rhetoric.
“It is easier and more politically expedient to support a cap-and-trade approach, because the public will never figure out where it is hitting them,” said Tillerson. “They will just know they hurt somewhere in their pocketbook,”...
And when the the government man comes around to check your domicile for unregulated carbon emissions (fireplaces) you can just pass him a small card saying, "I did not exhale."