Carbon Black Hole gets bigger ...deeper ....

The price for carbon closed last night 04 January 2007 at €4.88 - (remember it was in excess of €30 in April 2006!) a further collapse in this fantasy market - is lost on the Environment Minister Ian Pearson who upbraided Ryanair in a Guradian interview as "Ryanair are not just the unacceptable face of capitalism, they are the irresponsible face of capitalism" and also called it's founder and chief pilot the small, tallented but perfectly formed (and recently married) Michael O'Leary, as "completely off the wall" ... which anybody who can inspect his bank balance can see is evidently nonsense.

Carbon is released from fossil fuels, oil, gas, coal into the atmosphere, it with many other factors affects, the global climate, which is currently warming ever so slightly.

If you want to cut carbon emissions. Simply stop burning fossil fuels.... carbon trading does nothing of the sort .... it is merely a casino which enriches the financiers and their henchemen, accountnats, lawyers, money jugglers who designed it .... dazzling stupid politicians on the way, like Mr Pearson and his even dimmer predecessor Margaret Beckett.

There is another scheme that the politicians love called Renewable Obligation Certificates (ROC's) which have put £1 Bn in the City's pockets to produce, so far, some 220 Mw of electricity from wind energy in the UK = roughly half the capacity of one of the nuclear reactors (480Mw) just closed down at Sizewell and Dungeness.... not forgetting Siemens (one of the world's largest engineering companies) getting £10.4 Mn of Lottery money to help build Burbo Bank off Liverpool.