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« PNG – after 35 years, looking for a captain | Main | An inadequate force: The strategy unravels »

26 August 2010

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In pursuit of answers to the challenges posed by the current gutting of carbon prices in the wake of the fiasco of the climate change exchange shutdown in Chicago, I draw your attention to an interesting paper delivered By Professor John Sheehan on 31 August.

In it he addresses the issues of indigenous property rights subsumed by venal government actions alienating the original owners from reaping any substantial benefit.

In October 2008 it was reported in the 'Post-Courier' that the PNG gvernment was “grabbing the last tracts of virgin forests for the proposed REDD projects” and that “such ‘forest grabs’ by the State might lead to future conflicts if landowner’s equity interests were not properly catered for“.

During that period, estimates suggested world forests may sequester over 3.3 billion tons of CO2 annually and with existing carbon prices around US$33/tCO2, the rural communities owning most of them effectively subsidised the rich by $100 billion per year.

(Note: the late 2008 market value for carbon varied considerably around the world. A hectare of rainforest, if left intact, could then have been worth anywhere from US$400–$8,000 or more.)

With the current meltdown of carbon prices and the collapse of equitable marketing schemes, there is no longer any foreseeable viability for land owners, aside from resuming traditional logging activities or suchlike.

Fox News recently presented an expose’ on the topic entitled 'The Green $windle'. Fox launched its attacks on global warming years ago in an effort to discredit politicians on the “left”.

Surprisingly, the latest report admits that the real purpose of the “global warming hoax” is to establish a global dictatorship via a “global carbon tax” and “cap and trade” regulation.

Plagued by a free fall in carbon emissions prices and the perennial failure of Washington to pass any binding Cap and Trade Bill, it seems that the Chicago Climate Exchange is on its last legs, announcing that it will be scaling back its operations.

This announcement last week, advising of the failure of the premier trading facility for carbon, adds to recent admissions by the UN sponsored IPPC (which led the charge for climate change) of shoddy methodology concerning its science and reporting mechanisms.

Where are the pundits of the PNG carbon trading schemes now? Are they formulating new and irresponsible initiatives designed to convince and swindle vulnerable land owners?

What will be the next strategy for the monopoly men of PNG resources?

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