Beam me to Planet Gore !
Posted on 10/27/2008 12:53:20 PM PDT by Tailgunner Joe
It looks like the financial wizards at Goldman Sachs are betting that the U.S. government is going to impose a cap-and-trade system for global-warming emissions sooner rather than later, despite the financial crisis shaking up the corridors of power from Wall Street to Washington.
Goldman is announcing today that it will partner with Salt Lake City-based carbon-offset project developer Blue Source LLC. The company, backed by big-time private equity investors First Reserve Corp. and Och Ziff Capital Management Group, sells carbon credits. Neither Goldman Sachs or Blue Source would comment on the size of the investment, other than to say that Goldman would receive a minority stake in the company.
Blue Source’s credits are generated from developing projects like carbon capture and sequestration used in enhanced oil recovery; the off-take and destruction or use of methane gas coming from coal mines, landfills, and waste-treatment facilities, and other initiatives to reduce emissions. ....
Goldman said it will be selective in the offsets it markets. “We will work with independent bodies to assure ourselves of the quality of the offsets and which ones we will take as part of this alliance,” said Goldman spokesman Michael Duvally.
(Excerpt) Read more at blogs.wsj.com ...
At The Field Museum in Chicago yesterday, they were selling carbon credits for $1.00 in lieu of admission!
The next bubble....carbon credits
Just getting in line for the next Gov’t plan.
The upcoming World Economic summit will have some suggestions.
World taxes
Carbon offsets
Can’t pay with cash without Id.
minor things like that
Like I need another reason to avoid Goldman Sachs...
Lehman Brothers was a prominent member of the Climate Action Partnership.
Just another nail-in-the-coffin for the notion that Wall Street is about Capitalism. The more I hear, the more I think it is about anything but.
GS likes to broker deals with Texas governments for public roads to be turned into toll roads. The pols get cash, foreign companies get to charge tolls, and the tax payers get to pay twice or thrice.
I’m scamming some people on the local craigslist into trying to give me 10 dollars worth of organic groceries for me to be more “carbon neutral”. So far, I’ve gotten flagged twice.
I wonder what those assholes are up to?
I wonder how many Enron refugees now work for GS. They have taken up the mantle from Enron for corporate corruption, market manipulation, and political influence peddling.
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