Payoff! U.N. climate chief cashes in on carbon scheme, Tied to conglomerate that stands to make hundreds of millions in emissions deal

By Jerome R. Corsi
© 2009 WorldNetDaily

NEW YORK – A story emerging out of Britain suggests "follow the money" may explain the enthusiasm of the United Nations to pursue caps on carbon emissions, despite doubts surfacing in the scientific community about the validity of the underlying global warming hypothesis.

A Mumbai-based Indian multinational conglomerate with business ties to Rajendra K. Pachauri, the chairman since 2002 of the U.N. Intergovernmental Panel on Climate Change, or IPCC, stands to make several hundred million dollars in European Union carbon credits simply by closing a steel production facility in Britain with the loss of 1,700 jobs.

The Tata Group headquartered in Mumbai anticipates receiving windfall profits of up to nearly $2 billion from closing the Corus Redcar steelmaking plant in Britain, with about half of the savings expected to result from cashing in on carbon credits granted the steelmaker by the European Union under the EU's emissions trading scheme, or ETS.

Corus has accumulated 7.5 million European Union surplus carbon allowances, or EUAs, given the company free by the EU, after corporate officials lobbied EU officials aggressively in Brussels.

The Corus-owned 7.5 million EUAs are estimated at up to $650 million; the company also anticipates "saving" 6 million tons of carbon dioxide by closing the plant and not producing the plant's capacity of 3 million tons of steel. The 6 million tons of carbon dioxide is worth an estimated $130 million at current rates and possibly as much as $325 million at expected market levels.

The British government also announced Wednesday it would auction off rather than cancel the millions of carbon permits resulting from the Corus Redcar steel plant closing The Corus Redcar facility is scheduled to be closed in January, and if the facility is to be closed more than 50 days, Corus would not be entitled to receive the permits, worth about $147.5 million per year at current market rates.

How does the closing of a steelmaker in Britain tie to the chairman of the U.N.'s global warming science committee?

In 1974, the TATA Group provided the financial resources to found the Tata Energy Research Institute, or TERI, a policy organization headquartered in New Dehli, India, of which Pachauri has been chairman since the group was formed.

Continued business ties between TERI and TATA are demonstrated by a press announcement on the TERI website dated Feb. 4 in which Jairam Ramesh, the Indian minister of state for commerce and industry as well as minister of state for power, announced a joint venture with TERI and TATA power to extract and use carbon dioxide for the propagation of micro-algae.

On Dec. 10, 2007, Pachauri shared with Al Gore the Nobel Peace Prize for his work on global warming. At the Nobel ceremonies, Pachauri in his Nobel lecture openly represented the U.N.'s IPCC.

The TATA Group decision to close the Corus steelmaking plant has caused the Labour government of Prime Minister Gordon Brown political difficulties. Manufacturing accounted for 22.5 percent of Britain's economic output when Labour came to power in 1997, while it accounts for little more than 11 percent today, according to the London Times.

Arguing that the Brown government needs to provide financial assistance to manufacturing in Britain, Kirby Adams, the chief executive officer of Corus told the newspaper, "Jobs paying £30,000 ($50,000) a year are only in manufacturing sectors or sectors where you are adding value – you are not going to make that flipping burgers."

He added: "In some way I hope that this [decision to close Corus Redcar] will be the final wake-up call or alarm bell to get things across to people in Whitehall and Westminster – we need to help other sectors of the economy, not just the columns of the Bank of England."

In July, thousands of steelworkers marched in Redcar, North Yorks, England, protesting the proposed closing of the Corus steelmaking facility.

The European Union Greenhouse Gas Emission Trading System began operations in January 2005, billing itself as "the largest multi-country, multi-sector Greenhouse Gas Emission Trading system world-wide."

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"The GOVERNMENT should be of the PEOPLE, by the PEOPLE, for the PEOPLE...it's the GOVERNMENT'S job to watch out for us...to TAKE CARE of us...that's their JOB "!
Annie Leonard. 0:3:45 into this cute little propaganda video presentation.

Story of Stuff, The Critique Part 1 of 4
http://www.youtube.com/watch?v=c5uJgG05xUY&feature=related

Well Annie...That belief of yours, or who ever elses' it might be, is simply nothing less than a planned out contradiction...a contradiction of the principle of "SUBSIDIARITY".

The tenet of subsidiarity holds; that nothing should be done by a larger and more complex organization, which can be done as well, by a smaller and simpler organization. In other words, any activity which can be performed by a more decentralized entity, should be. This principle is a bulwark of limited government and, personal freedom. It conflicts with the passion for centralization and bureaucracy, characteristic of the Welfare State.

This is why Pope John Paul II; took the “social assistance state” to task in his 1991 encyclical: Centesimus Annus.

He wrote: The Welfare State was contradicting the principle of subsidiarity by intervening directly and depriving society of its responsibility. This “leads to a loss of human energies and an inordinate increase of public agencies which are dominated more by bureaucratic ways of thinking, than by concern for serving their clients and which are accompanied by an enormous increase in spending.”

It's quite a lengthy composition...full of wisdom, and worthy of reading...from a very great man.

Centesimus annus.
http://www.vatican.va/holy_father/john_paul_ii/encyclicals/document...
I LIKE THIS I HOPE YOU DON'T CARE, BUT I WANT TO SEND YOUR POST OFF ON OTHER SITES AND SO OTHERS CAN READ THANKS AGAIN
The truth is like the sun....You can shut it out for a time, but it ain't goin' away.
Elvis Presley – 1935-1977


February 05, 2009.

Feds can’t track green spending, says watchdog.

CANADA can’t keep track of BILLIONS of dollars in FEDERAL GOVERNMENT spending, on GREEN PROGRAMS…put in place since 2006. It’s also been said; these programs have had little quantifiable effect on improving the air and water quality too.

Scott Vaughan, Canada’s environmental watchdog, also found that tracking the efficacy of the federal government’s most important policies to slash greenhouse gasses is nearly impossible.
http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20090205/ag_rep...

December 10, 2009

European fraudsters steal $7B in carbon credit scam.

Its already started…the whole concept of climate change, global warming…GREEN economy means just that, but for an elect few...the color green, is obviously in reference to MONNAY.

Fraud within Europe’s carbon credit trading system, has so-far, already cost TAX PAYERS, more than $7 billion dollars, in the last 18 months...just the tip of their ICE-BURGERS.

“It is estimated; in some countries, up to 90 per cent of the whole market volume, was caused by fraudulent activities” the Europol (POLICE) said.
http://www.cbc.ca/money/story/2009/12/11/eu-carbon-credit-trading-f...

This is just another TOXIC ASSETS scam...the assets in this case, are, truly TOXIC...nitrogen oxide (NO), sulfur dioxide (SO2) and carbon monoxide (C0).

Every one should read the book; “The Richest Man In Babylon” by George Samuel Clason…

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