Wednesday, April 25, 2007

Carbon Credits, a nice little earner...

Benny Peiser has alerted CCNet subscribers to a nice little earner in Russia - the deal is, you recalculate your 1990 emissions and raise your Kyoto baseline by 576 mt/year, then you sell your extra carbon credits to your existing gas customers:

Gazprom, the Russian energy giant, has made handsome profits selling natural gas to Europe.

Now the company is positioning itself to make even more money, this time from the effluents from all that gas it sells to Europe. Gazprom announced Tuesday that it is selling carbon dioxide emissions credits that companies in the European Union need in order to burn Gazprom’s fuel.
Saving the planet is turning out to be surprisingly lucrative.

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