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Author: waterfell Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59036  
Subject: Selling fake renewable energy credits Date: 10/12/2012 3:28 PM
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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.

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- Pete
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Author: jaagu Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38364 of 59036
Subject: Re: Selling fake renewable energy credits Date: 10/12/2012 11:33 PM
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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.

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Author: PeterRabit Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38366 of 59036
Subject: Re: Selling fake renewable energy credits Date: 10/13/2012 1:44 AM
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Abandon the schemes -- Tax fossil fuels.

Simple.

Peter

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Author: PucksFool Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38368 of 59036
Subject: Re: Selling fake renewable energy credits Date: 10/13/2012 8:36 AM
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Abandon the schemes -- Tax fossil fuels.

What, and deny financial markets a chance to screw things up royally!

PF

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