Joe Higgins (Dublin West, Socialist Party)

In all seriousness, does the Taoiseach not see the glaring contradiction between wanting genuine and effective action to reduce pollution - if we take carbon as pollution - on the planet but relying on wild speculation in pollution credits on the world's financial markets as a method of achievement? Does the Taoiseach agree that his own programme for Government and the words he just used indicating that Ireland would become a centre of excellence in the management of carbon, or pollution, and that Ireland would become a leading player in the global pollution market are two diametrically opposed ideas? They are mutually exclusive. Does the Taoiseach find it incredible that carbon credits - or the licence to pollute - are the subject of massive speculation by hedge funds and other sharks in the financial markets? It is beyond belief that the same institutions, made up of sharks and charlatans, which brought the economies of the West to destruction over the past three years as a result of wild financial gambling, are entrusted with this method allegedly to reduce pollution?

Is the Taoiseach aware that in the European Union, reports have indicated that carbon trading has been a dismal failure in reducing pollution and carbon credits are grossly oversupplied, allowing polluters to purchase them cheaply and to continue polluting? The price paid by the consumers has the cost of the credit included. Is the Taoiseach aware that in the European Union there has been massive fraud in pollution credits speculation, as European taxpayers have been swindled out of billions of euro by fraudsters in this so-called market? Will the Taoiseach change the policy, going with his first path of excellence in reducing pollution and environmental management? He should not pursue the mad methods of the markets.

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