This coming on the heels of rampant frauds and scams among EU emissions trading.
On January 19, 2011, the EU emissions spot market for pollution permits was closed after computer hackers stole 28 to 30 million euros ($41.12 million) worth of emissions allowances from the national registries of several European countries within a few day time period. The Czech Registry for Emissions Trading was especially hard hit with 7 million euros worth of allowances stolen by hackers from Austria, the Czech Republic, Greece, Estonia and Poland
The whole AGW issue is nothing more than a scam itself. Carbon trading is a giant shell game being run by mainstream banking institutions such as J.P. Morgan and Deutsche Bank among others, to generate massive profits. A 100+ Billion dollar worldwide industry made, literally, out of thin air.
Overall, the global carbon market was worth about $141.9 billion in 2010, down from $143.7 billion in 2009. That 1 percent decline may seem small, but it's noteworthy in light of the market's meteoric rise. Between 2005 and 2008, carbon markets more than doubled in value every year; growth slowed to just 6 percent in 2009 and the market contracted in 2010.
