excalibur
Diamond Member
- Mar 19, 2015
- 18,241
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The insanity of so-called "green energy" is now causing problems in the West. Yet the leftoids and phony environmentalists keep pushing it with Biden agreeing the other day to put more federal lands being put off the board for drilling for oil and gas.
These offsets are just a scam as is AGW.
With its 34 turbines perched on a hill in southwestern India, the Tuppadahalli wind farm generates green energy—and profits.
The wind farm and three others in India are owned by Acciona SA, an €8.1 billion Spanish infrastructure conglomerate which held an IPO of its renewables business last year. Tuppadahalli is performing so well that an Indian credit-ratings firm upgraded it, citing its strong cash position, modest debt and long-term contracts to sell the energy.
Under the standards set by a 21-year-old United Nations program, however, Tuppadahalli is considered a toddling startup that still needs regular infusions of cash to stay in business. This means it can benefit from a large and growing global market in so-called voluntary carbon credits set up to allow corporations to offset their own greenhouse-gas emissions by funding mitigation projects in other parts of the world.
Last year, Delta Air Lines Inc. bought nearly 300,000 credits from Tuppadahalli for an undisclosed price, representing about 300,000 metric tons of carbon output that would have been added to India’s air pollution had the wind farm’s energy production come instead from traditional power generation. This allowed Delta to get closer to its pledge to curb its own emissions without taking drastic actions to overhaul its existing operations, such as switching away from jet fuel or grounding planes.
...
The end result is that companies looking to offset their emissions are buying credits in vast numbers that do little to help neutralize their carbon output.
...
www.wsj.com
These offsets are just a scam as is AGW.
With its 34 turbines perched on a hill in southwestern India, the Tuppadahalli wind farm generates green energy—and profits.
The wind farm and three others in India are owned by Acciona SA, an €8.1 billion Spanish infrastructure conglomerate which held an IPO of its renewables business last year. Tuppadahalli is performing so well that an Indian credit-ratings firm upgraded it, citing its strong cash position, modest debt and long-term contracts to sell the energy.
Under the standards set by a 21-year-old United Nations program, however, Tuppadahalli is considered a toddling startup that still needs regular infusions of cash to stay in business. This means it can benefit from a large and growing global market in so-called voluntary carbon credits set up to allow corporations to offset their own greenhouse-gas emissions by funding mitigation projects in other parts of the world.
Last year, Delta Air Lines Inc. bought nearly 300,000 credits from Tuppadahalli for an undisclosed price, representing about 300,000 metric tons of carbon output that would have been added to India’s air pollution had the wind farm’s energy production come instead from traditional power generation. This allowed Delta to get closer to its pledge to curb its own emissions without taking drastic actions to overhaul its existing operations, such as switching away from jet fuel or grounding planes.
...
The end result is that companies looking to offset their emissions are buying credits in vast numbers that do little to help neutralize their carbon output.
...
Companies Are Buying Large Numbers of Carbon Offsets That Don’t Cut Emissions
With the boom in renewable energy, many of the credits that trade hands merely represent a transfer of money from one profitable enterprise to another, critics say.
www.wsj.com
