Along with climate change, it appears there has been widespread fraud among the carbon trading entities in Europe. This is to be expected when one is trading something as ethereal as "carbon credits" coupled with a bunch of rules manufactured out of thin air (no pun intended). Carbon trading may be a legitimate exercise in the future, but for the moment, this nascent activity has all the legitimacy of the old U.S. Wild West. Hopefully, the powers that be will get it right before more money is lost.