Lee, Zab, Basserdan, Is there a difference?.
Part I
We cut down a 150 year old tree, (clear cut logging)
We plant a sapling (mass tree planting) to replace the 150 year old tree.
In the name of global warming, we estimate, (not calculate) how much carbon this sapling we just planted will ingest in the next 150 years.(we completely ignore the fact that the 150 year old tree we just cut down was ingesting this exact amount of carbon or more)
We name this estimated consumption of carbon by this freshly planted sapling that replaced the 150 year old tree as carbon credits.
We sell these carbon credits for $10 to $20 a ton/credit to industry, which are now called carbon offset.
Voila!, we’ve just monitized the ether!
Part II
The Federal Reserve buys high quality paper, prints “money”, distributes this money for free at “interest”
Voila!, we’ve just monitized the ether!
Is there a difference?
