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Carbon trading a tug of war
The Globe and Mail ^
| December 16, 2009
Posted on 12/18/2009 2:04:35 PM PST by george76
Wall Street sees carbon trading and related derivative products as the next big thing in financial innovation. Critics say it's the next big financial mess.
Carbon trading provides a way for companies to stimulate green energy and carbon reduction projects by financing them through the purchase of carbon credits.
Such trading has slowed over the past year or so amid uncertainty about regulations and global emissions targets. Eventually, though, many expect carbon trading to balloon into a multitrillion-dollar business.
FOE and other environmental groups have been pressing the Senate to pass legislation that puts strict limits on banks' involvement in the carbon-trading business. Meanwhile, the banking industry - the same bankers that President Barack Obama chided this week for lobbying instead of lending - has hired more than 100 lobbyists to work almost exclusively on ensuring their role as central players in the carbon market.
A Senate bill in the works by Democrat John Kerry, Republican Lindsey Graham and Independent Joe Lieberman would make cap and trade the central mechanism employed to achieve targeted reductions in planet-warming emissions. So far, the trio has been silent on who could participate in an emissions-trading scheme.
Banks are also eyeing the carbon offset business
(Excerpt) Read more at globeinvestor.com ...
TOPICS: Business/Economy; Crime/Corruption; Extended News; Foreign Affairs; News/Current Events
KEYWORDS: algore; carboncredits; carbonderivatives; carbontrade; carbontrading; climatechange; climategate; copenhagen; envirofascism; globalwarming; globalwarmingscams; globalwarmingscandal; goldman; goldmansachs; lynch; merrill; merrilllynch; obama; sachs; scams
1
posted on
12/18/2009 2:04:36 PM PST
by
george76
To: george76
2
posted on
12/18/2009 2:06:34 PM PST
by
xuberalles
(The Best Anti-Liberal Novelties On The Net - The Right Stuff http://www.zazzle.com/xuberalles)
To: xcamel; BIGLOOK; Marine_Uncle; NVDave; jazusamo; LucyT; onyx; steelyourfaith
3
posted on
12/18/2009 2:10:45 PM PST
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
Wasn’t this the market Enron invented?
4
posted on
12/18/2009 2:14:58 PM PST
by
kjo
To: kjo
Looks like Goldman Sachs is replacing Enron ?
5
posted on
12/18/2009 2:18:40 PM PST
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
“many expect carbon trading to balloon into a multitrillion-dollar business.”
many expect carbon trading to balloon into a multitrillion-dollar theft.
To: george76
You would think that Wall Street would have learned their lessons about trying to create prosperity with financial manipulation. But apparently they are slow learners. The public is already furious with them. If they sign on to these scams, then people ought to be ready with pitchforks and torches. I hope they are smart enough to see that this whole climate scam is about over. Are they bright enough to see this. I doubt it. If they do repackage these carbon offsets as financial derivatives, then let them suffer the wrath of the public when this whole thing blows apart.
They've been warned!
7
posted on
12/18/2009 2:28:53 PM PST
by
truthguy
(Good intentions are not enough!)
To: sergeantdave
I feel like I’m in the twilight zone. What an ingenious way to bleed us dry and control our actions!
8
posted on
12/18/2009 2:35:52 PM PST
by
refermech
To: george76; SolitaryMan; rdl6989; Darnright; According2RecentPollsAirIsGood; livius; DollyCali; ...
9
posted on
12/18/2009 2:41:54 PM PST
by
steelyourfaith
(Time to prosecute Al Gore now that fellow scam artist Bernie Madoff is in stir.)
To: george76
Most excellent King of the Hill clip on carbon offsets.
The funniest part is that Dale takes the money to plant trees and after about 2 gets tired of doing that. So no trees and Dale is making a killing for nothing except making the people paying feel better. That’s not on this clip, but in the episode.
http://www.hulu.com/watch/38432/king-of-the-hill-selling-carbon-offsets
10
posted on
12/18/2009 2:57:07 PM PST
by
autumnraine
(You can't fix stupid, but you can vote it out!)
To: sergeantdave
And if Goldman had not received $13 billion in taxpayer-paid funding from AIG, their profit would have been...what, negative $8.5 billion or so?
Youre welcome, Warren Buffett . Call again.
11
posted on
12/18/2009 4:07:17 PM PST
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
Another future scam in the making. Big bucks to be had by the money changers.
12
posted on
12/18/2009 6:00:34 PM PST
by
Marine_Uncle
(Honor must be earned....)
To: Ernest_at_the_Beach
Hark! Do you want to read about some more scum bags?
13
posted on
12/18/2009 6:03:37 PM PST
by
Marine_Uncle
(Honor must be earned....)
To: Marine_Uncle
This is the game that is steamrolling everything in it’s path alright!
To: Ernest_at_the_Beach
Such a totally dishonest and dangerous game. I must watch my language I don't want to be ban.
Let me just say in my perhaps ignorance I do not view any of them as being capitalist. They are money changers... in the eyes of some, thieves.
I have to sign off E. Have a great upcoming day.
15
posted on
12/18/2009 9:48:21 PM PST
by
Marine_Uncle
(Honor must be earned....)
To: george76
To: Ernest_at_the_Beach
17
posted on
12/21/2009 1:43:54 PM PST
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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