Free Republic

Link only - The Chicago Climate Club Gets Capped

Republican mid-term election joy deals financial uncertainty among green investors as the Chicago Climate Exchange announces the end of U.S. carbon trading. The Chicago Climate Exchange (CCX) announced on October 21, 2010 that it will cease carbon trading this year. However, Steve Milloy reporting on Pajamasmedia.com (November 6, 2010) finds this huge story strangely unreported by the mainstream media.To some key analysts the collapse of the CCX appears to show that international carbon trading is “dying a quiet death.” Yet Milloy finds that such a major business failure has drawn no interest at all from the mainstream media. Milloy noted...

Corruption: The carbon trading system being pushed here has spawned crime and fraud across the pond. Cap-and-trade is not about saving the planet. It's about money and power, and absolute power corrupting absolutely. All across Europe authorities have been conducting raids, rounding up individuals involved in a new version of Climate-gate. This time the data aren't corrupted. Europe's Emissions Trading System is. The system is so sick, it's turned out to be a scam built upon a scam. Twenty-five people have been arrested in raids by British and German authorities as part of a pan-European crackdown on carbon credit VAT...

Futures exchange group Intercontinental Exchange Inc. said it agreed to buy Climate Exchange for 395 million pounds ($606.7 million) to create a single trading platform for environmental contracts worldwide. Shareholders in Climate Exchange, the operator of the European, Chicago and Chicago Futures carbon emissions exchanges, will receive 750 pence a share in cash, representing a 57 percent premium on Thursday's closing price, ICE said in a statement on Friday. Climate Exchange was founded by Richard Sandor, a longtime futures industry executive in Chicago.

Cap-And-Trade: While senators froth over Goldman Sachs and derivatives, a climate trading scheme being run out of the Chicago Climate Exchange would make Bernie Madoff blush. Its trail leads to the White House. Lost in the recent headlines was Al Gore's appearance Monday in Denver at the annual meeting of the Council of Foundations, an association of the nation's philanthropic leaders. "Time's running out (on climate change)," Gore told them. "We have to get our act together. You have a unique role in getting our act together." Gore was right that foundations will play a key role in keeping the...

While on the board of a Chicago-based charity, Barack Obama helped fund a carbon trading exchange that will likely play a critical role in the cap-and-trade carbon reduction program he is now trying to push through Congress as president. In 2000 and 2001, while Barack Obama served as a board member for a Chicago-based charitable foundation, he helped to fund a pioneering carbon trading exchange that is likely to fill a critical role in the controversial cap-and-trade carbon reduction scheme that President Obama is now trying to push rapidly through Congress. During those two years, the Joyce Foundation gave nearly...

The global-warming debate is shifting from science to economics. For years, the fight over the Earth's rising temperature has been mostly over what's causing it: fossil-fuel emissions or natural factors beyond man's control. Now, some of the country's biggest industrial companies are acknowledging that fossil fuels are a major culprit whose emissions should be cut significantly over time. A growing number of these companies are pushing for a mandatory emissions limit, or "cap." Some see a lucrative new market in clean-energy technologies. Many figure a regulation is politically inevitable and they want to be in the room when it's negotiated,...

Al Gore’s campaign against global warming is shifting into high gear. Reporters and commentators follow his every move and bombard the public with notice of his activities and opinions. But while the mainstream media promote his ideas about the state of planet Earth, they are mostly silent about the dramatic impact his economic proposals would have on America. And journalists routinely ignore evidence that he may personally benefit from his programs. Would the romance fizzle if Gore’s followers realized how much their man stands to gain? Earlier this year Gore experienced a notable public relations debacle. The Tennessee Center for...