They might be treading water in Auckland, but they will be eating popcorn at Machu Picchu. « The Constitution Club
Your messenger wonders if the AGW movement, headed up by wealthy white fat-cats like Al Gore, is just another attempt by “the man” to keep the little brown people down…CME Revs Up for Surge in Carbon Credit Trading - Carbon [Rip-]Offsets Daily
As the Senate debates the American Clean Energy and Security Act recently passed in the House that attempts to create a cap-and-trade scheme for carbon emissions in the U.S. similar to Europe’s, the Chicago Mercantile Exchange has been ramping up its efforts to prepare for an expected surge in carbon credit trading.Cap-and-trade bill: Blood and Gore - Paul Mulshine
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The CME Group and several partners — Evolution Markets, Morgan Stanley, Credit Suisse, Goldman Sachs, JPMorgan, Merrill Lynch, Tudor Investment, Constellation Energy, Vitol, RNK Capital, ICAP, and TFS Energy — are building a Green Exchange that currently awaits CFTC approval. Upon approval, this exchange would trade all the environmental products the CME currently trades, including carbon emission reduction futures contracts and sulfur dioxide futures and options.
If my e-mail is any indication, every conservative in New Jersey is angry with the three Republican congressman from our state whose votes last week helped provide the winning margin for that cap-and-trade bill.
With good reason. It's an awful bill. And I'll give you two reasons: Blood and Gore.
No, I'm not talking about a horror movie, but there is a link to the cinema. Around the time Al Gore was putting together that movie about the horrors of global warming titled "An Inconvenient Truth," he was also putting together a firm with a former Goldman-Sachs executive named David Blood. The firm, Generation Investment Management, recently bought a share of a company called Camco International Ltd., which trades in carbon credits.
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Marron's biggest objection to the current bill is the way in which the tax is hidden. The market value of the carbon credits that would be created would be close to a trillion dollars. Yet the government is planning to give most of those credits away. This raises the same question in my mind that it probably raises in yours: Why can't I have some?
Because you and I don't have lobbyists, says Marron.
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