The Financial Times has an interesting article about how some carbon credit offset certificates are frauds. Here in Austin these credits are used to offset the carbon emissions generated during some outdoor concerts to run the speakers and lights. Now it's shocking to hear that some companies have been selling fraudulent offset coupons. Organization who use to think their activities were carbon neutral now have to rethink them. Al Gore may have to investigate the certificates his company bought to cover his lifestyle.
I think it would be OK if the cheating carbon trading companies had just bought 'lying offset credits' from people in the third world who could have lied at a point in the past, but didn't.