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Smart Investors Get it Right with Planktos

The NYTimes has a story explaining that Planktos, the company that wants to create carbon offsets it could sell by dumping iron dust in the ocean, can’t scrape together the money to do tests.

Good thing. Messing with the oceans to try to fix how we have messed with the climate on its face is a bad idea. It’s an example of geeks gone wild. But imagine the technical difficulties of trying to value the carbon offsets and trying to gauge any offsetting damages that are created. We haven’t even settled the debate over carbon offsets and trees. How could you imagine you could tackle this? And then how could we imagine that we could understand the side effects such a massive, unnatural event would have on the oceans?

The market was smart this time.

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