The European CO2 emissions trading system proved to be an excellentvehicle for VAT fraud.

I did not know about this wrinkle until today, but I realized when I read about emissionstrading that it would provideopportunitiesfor fraud at the expense of Earth's climate.

The proponents of a "carbon market" tend to assume that such a market would effectively give thesame results as a carbon tax. They disregard that every trade of emissions quota from A to B isan opportunity for sleight of hand to hide some emissions somewhere between A and B.