Friday, September 1, 2023

The Key to Understanding the Global Warming Fraud

At first, the concept of trading carbon credits was straightforward; it was known as "Cap and trade." Each country was allocated a level of carbon emissions each year by the signatories to the agreement based on an annual targeted reduction in carbon emissions to reach the goal.

If a country or emitter expected to exceed its cap, it could "Trade" or buy unused carbon credits from other countries that expected to emit less than their cap.

If a country failed to meet its emissions target and did not purchase carbon credits, the protocol required it to make up the difference in the second commitment period, with an additional 30% penalty.

At first, only developing countries that were signatories to climate treaties stood to profit by selling unused carbon credits to developed countries that exceeded their cap.

The rationale used to sell the concept was simple: get developed nations to reduce carbon emissions and keep developing nations from growing them.

Global investment firms created new organizations and funds to trade carbon credits and offsets, as well as arrange financing for alternative energy projects.

Carbon offsetting began in 1989, when Applied Energy Services, a coal power plant producer in the U.S., planted 52 million trees in an agroforest in Guatemala to offset coal power emission in Connecticut. 

https://www.americanthinker.com/articles/2023/09/the_key_to_understanding_the_global_warming_fraud.html

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