To reduce greenhouse gases, the UN gives firms more carbon credits (that they can sell on the open market) the more destructive the gases they capture and destroy. Rather than ridding the planet of these gases, firms now, ironically, produce large volumes of these gases and receive carbon credits for destroying them. To date, 46% of all carbon credits have been awarded to 19 plants that produce the gas HCFC-22.
Tag Archives: Law of unintended consequences
Unintended Consequences
Since the first of the year, planes landing in or departing from Europe must pay a carbon tax based on the length of the flight, even if the flight does not originate or terminate in Europe. To reduce the tax, UPS is considering flying from Hong Kong to Cologne, Germany via Mumbai! This would increase emissions by 30% as it would add 1,100 miles and an extra takeoff and landing but still save UPS money. While passengers hate layovers, packages don’t.