Getting Back To Carbon CreditsIn an earlier post, I mentioned Taylor Swift buying carbon credit offsets to claim net zero for her private jet travel. I got to wondering, howmuch carbon does she need to offset? Well ot turns out that before her famous recent tour she needed to offset 128 tonnes from her private jet travel.
Now, that number is just a number and so I compared that to the average amount a "regular" person would produce in their carbon footprint. The answer actually shocked me. The average person in nthe US produces 16 tonnes and the global average is 4. So a promotor of DEI and idolized by millions around the world has a carbon footprint 30X the world average just from jet travel and not including anything else she does.
BUT....the whole thing gets even more interesting
To qualify for carbon credits for forest operations you need to own more than 5000 acres of forest land. This shuts out everyone except large landowners and big corporations. So much for DEI that the Governments like to tout and use to control our lives. Talk about hyposcrisy!!
So who makes a lot of money trading the carbon credits? Well it turns out that the US big banks make a lot of money trading the carbon credits - JPM being the biggest.
How big is this business of selling carbon credits?
Hard to say without a lot of research but I did see a report that said that the value of the carbon credits that TSLA has gotten essentially paid for the Berlin Gigafactory.
Last night at dinner, my wonderful wife and I were talking about all this and her reaction?
Well she has a knack of cutting to the chase - "The whole thing is a scam!"