“That would go for either Obama or McCain, wouldn’t it?”
I don’t know how a federally mandated cap and trade scam would effect the Chicago exchange. But all over the world, they are systems for laundering money and political influence. The Aussies turned so quickly, I wonder whether their leaders all have carbon credit “accounts” on the books in China, and such. They might hide the bribes as acts of their own greenness, say they claim to drive less, bump up $100k of credits on the books.
Did you ever read the proposed Climate Stewardship Act of 2003 (S 139)?
The opportunity for laundering and corruption was stunning.
And it created a whole new bureaucracy that dwarfed the SEC for dealing with this stuff.
When the U.S. becomes overwhelmed with “carbon debt,” I’m sure some rainforest in Africa will be more than happy to bail us out.