Feb. 5 (Bloomberg) -- European regulators need to take “decisive action” after a new round of fraud tainted the world’s biggest emissions market, according to the head of carbon trading at Barclays Capital.So let's see if we can get this straight. A con game based on junk science designed to prevent glaciers from melting that really aren't by reducing a tiny build up of harmless gases that will increase no matter what the Euros do has been pilfered by thieves. This is like Oceans 11 for the Global Warming set.
Germany’s Federal Environment Agency said Feb. 3 that about 250,000 CO2 allowances with a market value of 3.2 million euros ($4.4 million) were improperly transferred after cyber attacks. The so-called “phishing” incident comes after Europe lost a total of 5 billion euros in revenue for the 18 months ending in December 2009 because of value-added tax fraud in the CO2 market, according to Europol, the law enforcement agency.
I guess this is all OK morally since they're stealing from thieves. Whatever.