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China fights AGW by causing it

Moptop has pointed out the following fascinating press release:

China Threatens Massive Venting of Super Greenhouse Gases in Attempt to Extort Billions as UNFCCC Meeting Approaches
Both Al Gore and James Hansen have praised the Chinese communists as the leaders in the world's struggle for a cleaner environment.

Chinese comrades are fighting for a cleaner air by riding bikes and by covering their noses so that they don't emit lethal CO2 into the atmosphere and so that they don't steal the vital, precious, and delicious SO2, SO3, ozone, N2O, ash, uranium oxides, and aerosols from the commons. Under Al Gore, James Hansen, and their Chinese masters, this is how the American streets will soon look like, too.

Both Gore and Hansen have urged the United States to join China and obediently follow the commands of her glorious leaders and their fantastic new five-year plan. In fact, China has been making money in ways that seem rather incredible. It is the world leader in making money out of the HFC-23 (trifluoromethane, a greenhouse gas 15,000 times more powerful than carbon dioxide) offsets. How do you make money out of HFC-23 offsets? Well, you just produce it and then you destroy it. ;-)

It's that simple. Yes, that's the way how this "market" works. You can earn lots of money just by producing something and destroying it. ;-) The logic is that you're being paid for the difference of actual emissions and the "normal or expected" emissions – except that the level that is "normal" obviously isn't God-given and may be pretty much invented by the "clever" emitter. We usually discuss how preposterous the idea of cap-and-trade is assuming that the effects of the greenhouse gases are tiny and, if measurable, beneficial. But we don't quite appreciate how totally irrational the indulgence markets would be even if the greenhouse gases were harmful.

So the rest of the world decided not to pay for the destruction of HFC-23: it has blasphemously decided to abolish the HFC-23 offsets. China has lots of it, waiting to be destroyed and converted to cash. Suddenly, people are telling the Chinese that there won't be any cash. How does China respond? It responds by saying "We will emit this HFC-23 into the atmosphere if you don't pay the ransom to us".

Well, for the sake of the world peace, I would just allow them to emit the extra HFC-23 into the atmosphere. It is not lethal in any way and some millikelvins or microkelvins of warming are still negligible. But you see how these fantastic plans work. They create many opportunities – sometimes totally trivial ones – to make money, so people and whole nations leverage these opportunities by bringing more greenhouse gases to their profitable loops. When something changes in the loop, the whole leveraged amount of the greenhouse gases is going to be released to the atmosphere.

You may call it "extortion" but the Chinese have the right to emit the HFC-23 if the price of the HFC-23 offsets is set to zero again. The only thing we can say is that this insanity – emitting HFC-23 into the atmosphere that hasn't been useful for anything – wouldn't have happened at all if the proponents of the cap-and-trade schemes were put in jail in time.

The actual outcome of their immoral behavior is exactly the opposite than what they want to achieve. However, it's only the outcome when it comes to the composition of the atmosphere but that's not the thing that is at stake here. What is really at stake is their power and their wallets. And those things may still thrive, despite unbelievable events such as this one, and they will only stop thriving once the global alarmists are treated in the way they should be treated, namely as criminals.

And that's the memo.

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reader aaron said...

It's also amusing that people haven't caught on to the fact that cap and trade prevents competition, keeping prices high. And as production falls off for current producers, they extract rents from their would be competition through credits.