Usually it’s people on my side of the argument who get accused of being paid by the big oil companies (I still pay retail rates for my petrol, thank you very much)…but the truth couldn’t be more different. It’s not the climate sceptics who are being paid-off, it’s the great prophets of Global Warming Doom [1] at the UN’s Intergovernmental Panel on Climate Change:
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.
Yeesh, the head of the IPCC making money from a carbon-belching steel plant, about to make money by putting 1,700 people out of work so that he call sell off his Global Warming Doom credits.
So this is how you get a Nobel Peace Prize these days is it?
Samuel