The Europeans are sometimes, well, stupid. How else can you explain six large oil companies–BG Group, BP, Eni, Royal Dutch Shell, Statoil and Total–buying into the tax scheme called carbon credits? The six sent a letter (copy below) to the United Nations Framework Convention on Climate Change (UNFCCC) begging the UN to introduce carbon pricing systems and “create clear, stable, ambitious policy frameworks that could eventually connect national systems” that would “reduce uncertainty and encourage the most cost effective ways of reducing carbon emissions widely.” This is madness. Create laws that supersede each country’s sovereignty and impose a worldwide tax on carbon–the stuff you breathe out with every breath–as some sort of solution for the imaginary problem of man-made global warming? If the UN does such a thing, it will spell the end of the companies sending the letter! What do you call a company trying to commit economic suicide? Do the investors of these six companies know the heads of those companies are trying to destroy the company and their investments along with it? No wonder Europe is in decline…
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