‘Carbon Trading’ should not even exist:
– Study: CO2 levels remained constant since 1850! (University of Bristol)
This has nothing to do with saving the planet.
And you will be presented the bill in form of higher prices.
Forget CDOs and other inventions of the great credit bubble. That’s all old hat. Investment bankers are moving on to an area of securities trading that is potentially even more lucrative, and what’s more, even has a social value – saving the planet. Or supposedly so, anyway. I’ve long had my suspicions about the great carbon trading bubble, and I’ve had them pretty much confirmed by a brilliant article which has been drawn to my attention by one Mark Schapiro in Harper’s magazine.
According to Mr Schapiro, carbon trading is now the fastest growing commodities market on earth. Since Kyoto signatories bought in to the cap and trade concept in 2005, there have been more than $300bn carbon transactions, prompting several investment banks, including Goldman Sachs and Barclays, to set up their own carbon trading desks. But that’s just the start. If President Obama and his supporters can institute a cap-and-trade system in the United States – and that’s a big if for this increasingly marooned presidency – demand could explode into a $2 to $3 trillion market.
And here’s the great thing about it. Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon market is based on lack of delivery of an invisible substance to no-one. Since the market revolves around creating carbon credits, or finding carbon reduction projects whose benefits can then be sold to those with a surplus of emissions, it is entirely intangible.
“Carbon developers”, many of them employed by large multinationals, travel the world in search of carbon reduction projects to sell, while firms of carbon accountants have been established to verify on the United Nations’ behalf that those reductions are real. The whole thing, though well intentioned, looks wide open to abuse and scams. Mr Schapiro’s account of the carbon trading market is obviously a sceptical one, and no doubt there are others that take a less cynical view. But I wonder what all the wide eyed climate change campaigners are going to say when the first scandals begin to break, still more what they’ll make of it when the whole thing turns out to be another giant asset bubble – if indeed the non production of carbon can be described as an asset.
By Jeremy Warner
Last updated: February 19th, 2010
Source: The Telegraph
Global warming is a scam:
– Leading Scientist Warns of Ice Age: ‘Most of Europe Will Be Under Ice’
– IPCC Chairman Rajendra Pachauri was told of false Himalayan glacier melting claims before Copenhagen
– Met Office blocked role of leading scientist in ‘hockey stick’ climate change row
– Godfrey Bloom Exposes the Global Warming Scam (European Parliament, Strasbourg, 20.01.2010)
– Lord Christopher Monckton reports on Pachauri’s eye opening Copenhagen presentation
– Top Scientist: Rise of Sea Levels is ‘The Greatest Lie Ever Told’
– Climate crunch: David Bellamy on global warming fraud
– Study: CO2 levels remained constant since 1850! (University of Bristol)
– What happened to global warming? The warmest year recorded globally was 1998 (BBC News)
– Global Warming Expert Prof. Latif: Earth has not warmed for nearly a decade and that we are likely entering “one or even two decades during which temperatures cool.” (The Calgary Herald)
– Solar Physicist Predicts Ice Age: “SOLAR CYCLE 24 HAS NOW GONE CLEARLY BELOW DALTON LEVEL.” (The Examiner)
– The Great Global Warming Swindle (Documentary)
– Ron Paul: Global Warming Petition Signed by 31,478 Scientists (Lew Rockwell)
– NASA Study: Solar Cycle, Not Man, Responsible for Gobal Warming (DailyTech)
– Global warming alarmists out in cold (Herald Sun)
– Nobody listens to the real climate change experts (Telegraph)
– Climate ‘denial’ is now a mental disorder (Telegraph)
– Japan’s boffins: Global warming isn’t man-made (The Register)
– Al Gore sued by over 30.000 Scientists for fraud (Video)
– World is getting colder: It’s the sun, not CO2, that’s to blame (Washington Times)
– Global warning: We are actually heading towards a new Ice Age, claim scientists (Daily Mail)
– Scientists find greenhouse gas hysteria to be myth (World Net Daily)
– 2008 was the year man-made global warming was disproved (Telegraph)
– Army: Sun, Not Man, Is Causing Climate Change (Wired)
– World might be heading towards Ice Age (Economic Times)
– Flashback: David Ballamy: ‘BBC shunned Me For Denying Man-Made Global Warming’ (Daily Express)
Climategate:
– Climategate: Michael Mann’s Very Unhappy ‘Whistleblower’ New Year (Telegraph)
– Climategate: Al Gore spews the usual utter nonsense but this time no one believes him (Telegraph)
– Climategate: Which part of ‘over’ don’t these people understand? – A quick idiot’s guide to why Climategate does matter (Telegraph)
– Climategate and the Tiger Woods Index; Al Gore cancels Copenhagen speaking event (Telegraph)
– Climategate: It’s all unravelling now! (Telegraph)
– Climategate: Follow the Money (The Wall Street Journal)
– Climategate scandal claims its first big political scalp (Telegraph)
– Climategate: Googlegate?! (Telegraph)
– Lord Cristopher Monckton on Climategate: Shut Down The UN, Arrest Al Gore
– Climategate: This is the worst scientific scandal of our generation (Telegraph)
– Climategate: The great climate change science scandal (The Times)
– Climategate Scandal: The Whitewash Begins (Telegraph)
– Lord Christopher Monckton on Climategate: ‘They Are Criminals’
– Climategate: George Monbiot – aka the Great Moonbat – makes it all suddenly OK through medium of satire (Telegraph)
– Climategate: Scientists Would Rather Change Facts Than Their Theories (RT)
– Climategate on Lateline: Private climate documents hacked, published
– Climategate Bombshell: Dr. Tim Ball on the hacked CRU emails
– Climategate: The Day Science Died (TBR)
– Climategate: how the MSM reported the greatest scandal in modern science (Telegraph)
– Climategate: CRU director admits the emails flying all over the internet appear to be genuine (Herald Sun)
– Climategate: The Final Nail in The Coffin of ‘Anthropogenic Global Warming’?! (Telegraph)
Follow the money and the New World Order:
– EU President Herman Van Rompuy Announces 2009 as ‘First Year of Global Governance’
– Al Gore could become world’s first carbon billionaire
So global warming is really about the elite finding more ways to take away your freedom and your money!
Education:
– Build-A-Bear: The Sinister Green Plot to Turn Our Kids Into Eco-Fascist Manchurian Candidates
– Insane British Government Global Warming Ad: Panic, Little Ones, It’s The Carbon Monster
In the news:
– US ‘Snowmageddon’: Hundreds of Thousands Remain Without Power in Washington DC
– Florida: Manatees die in record numbers from cold
– Florida Freeze Destroys Estimated 70% of Southwest Vegetable Crop
– UK: Gas supply rationed as temperature drops to -21C
– Winter Chaos Around The World
– Beijing and Seoul Hit by Heaviest Snow in More Than Half Century
– Britain is facing one of the coldest winters in 100 years, experts predict
– NCDC: 250 Snowfall Records So Far In 2009; This December Shapes Up to be the Coldest on Record
– US Blizzard: Christmas Misery for Millions; Oklahoma State of Emergency (Video)
– Blizzard Blasts Eastern US: Hundreds of Thousands of Homes Without Power
– Snowing on Copenhagen’s Global Warmist Parade
– US East Coast faces severe winter storm
– US ‘Monster’ Winter Storm Resembles Wintery Hurricane With Blizzard Conditions
– US: Cheyenne records snowiest October on record
– Autumn record-setting snowstorm wallops Rockies, Plains
– US: Freak Summer Storm Dumps Snow in Yonkers
Nature knows exactly how to deal with CO2:
If you really want to change the climate on this planet then:
– Environment: Solar plant yields water and crops from the desert