Imaginary exchange goes poof [Chicago Carbon Credits]

Toronto Sun ^ | 11/14/10 | Ezra Levant

[Enchante]

The Chicago Climate Exchange is shutting down at the end of the year.

Nobody’s buying carbon credits.

Right now, days go by when not a single trade is done. When trades are done, carbon dioxide sells for just five cents a ton.

It’s over.

[Enchante]

A financial "exchange" for buying and selling "carbon credits" (aka "Albore Green Indulgences") was never going to work without the govt imposing something like the farce of "cap and trade".... since that effort collapsed (no thanks to gullible RINOs), the Chicago Climate Exchange is DOA.

[Enchante]

Albore and other hucksters got rich, but the whole “Inconvenient Truth” scam is rather inconveniently (for them) in free fall.

[David Isaac]

Bummer. Though I hope Gore and Paulson were able to buy lots of carbon shares before the bottom dropped out.

[Gaffer]

It was doomed from the start. The 'concept', absolution for wanton creation of CO2, is nothing really more than a 21st century version of the Pope's Italy half a millennia ago. A 'sin' could be absolved, of course for a generous donation to the hierarchy.

Reminds me of the 1970s oil swaps price escalation. You have a big storage tank of oil sitting in one spot. It gets churned and churned (ownership passing from one broker to the next), each time the price goes up enough for each to get his due profit. Meanwhile the oil never went anywhere.

[November 2010]

Ha Ha.

[kittymyrib]

When the public decided that “climate change” was a hoax, the game was over. Who really thought buying credits for the air all humans exhale was a great idea? Only the most rabid Algore worshiper would fall for something so bizarre.

[LibertyRocks]

ROFLOL — That didn’t take long!

[iopscusa]

Green Hell Blog at JunkScience.com has launched the web site GoreFacts.com. A site centralizing AlGore’s frauds & lies.

[ari-freedom]

Some people think our money isn’t backed by ‘anything’ but that’s not true. If it was, nobody would use it.
On the other hand, these credits really are based on nothing.

[ari-freedom]

It’s bad science but it is even worse economics. Carbon trade would be a bad idea even if the case for AGW was as solid as Newton’s laws.

[rusty millet]

algore recently spoke out against “first generation” (corn) ethanol. This is a smokescreen for the next greenie crusade - second generation ethanol from cellulosic sources. The federal govt is on board unless the people speak out about this abomination. It sounds great from a dream world perspective, but from a scientific and economic perspective it is a nightmare.

Keep your eye on this. We will be paying massive subsidies in this area unless pressure is put on Congress to stop this foolishness.

[Dixie Yooper]

Finally, a perfect wall paper pattern for our powder room.

[niteowl77]

I think mine might be counterfeit...

Mr. niteowl77

[Izzy Dunne]

I hope Gore and Paulson were able to buy lots of carbon shares before the bottom dropped out.

Any bets on the number of shares bought by AlGore being somewhere close to ZERO?

[steelyourfaith]

 

Beam me to Planet Gore !

[hadaclueonce]

I remember when Enron wanted to trade “weather options”

Speculators would bet on anything if it moved and did not hit the prediction every time.

[screaminsunshine]

Mr. Haney. I love it. The perfect Democrat spokesman.

[screaminsunshine]

Mr. Haney. I love it. The perfect Democrat spokesman.

[Rocky]

Any bets on the number of shares bought by AlGore being somewhere close to ZERO?

My guess is that Gore made money off of this charade. And since there is no tangible product from "carbon credits," somebody must have lost money at the same time. My guess is that it was gullible socialists from academia, the media, politics, and Hollywood.

[SunkenCiv]

The tulipmania debate is over! Thanks Enchante, additional:

• If Al Gore's Chicago Climate Exchange Suffers Total Failure, Does the MSM Make a Sound?
• Collapse of Chicago Climate Exchange Means a Strategy Shift on Global Warming Curbs (ALGORE SELLS!)