The NY Times describes how people are selling counterfeit energy credits and making $ millions. More than $100 million in fraud has been identified.http://www.nytimes.com/2012/10/12/business/energy-environmen...Under the E.P.A. program, initiated in 2009, a producer who makes diesel fuel from vegetable oils and animal fats receives renewable energy credits for every gallon manufactured. The producer can then resell the credits to refiners, who pay millions of dollars for them under a government mandate to support a minimum level of production.The credits can also be resold, a commonplace activity in the arena of corporate compliance with federal environmental rules.The problem is that at least three companies were selling bogus credits without producing any biodiesel at all, the E.P.A. has said in announcements over the last year. ------------------------------------------------- Pete
So what is your point? Corruption is rampant everywhere - too bad government regulators budgets have been and are being cut so there is less money for oversight in so many areas such as oil/gas drilling, chemicals dumping, counterfeit products (air bags to nuclear power plants components), etc.
Abandon the schemes -- Tax fossil fuels.Simple.Peter
Abandon the schemes -- Tax fossil fuels.What, and deny financial markets a chance to screw things up royally!PF
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