I know you've posted on the economic farce of carbon credits, so I thought you would appreciate this.
China dams reveal flaws in climate-change weapon
XIAOXI, China – The hydroelectric dam, a low wall of concrete slicing across an old farming valley, is supposed to help a power company in distant Germany contribute to saving the climate — while putting lucrative "carbon credits" into the pockets of Chinese developers.
But in the end the new Xiaoxi dam may do nothing to lower global-warming emissions as advertised. And many of the 7,500 people displaced by the project still seethe over losing their homes and farmland.
"Nobody asked if we wanted to move," said a 38-year-old man whose family lost a small brick house. "The government just posted a notice that said, 'Your home will be demolished.'"
The dam will shortchange German consumers, Chinese villagers and the climate itself, if critics are right. And Xiaoxi is not alone.
Similar stories are repeated across China and elsewhere around the world, as hundreds of hydro projects line up for carbon credits, at a potential cost of billions to Europeans, Japanese and soon perhaps Americans, in a trading system a new U.S. government review concludes has "uncertain effects" on greenhouse-gas emissionshttp://news.yahoo.com/s/ap/20090125/ap_ ... olden_dams
There's more at the link. Yep, the EU's purchase of climate credits leads to the dispossession of thousands of Chinese peasants.