Carbon [Swindle] Trading May Dwarf Crude Oil - Carbon Challenge Series 2009 - Special Report - CNBC.com
If carbon cap-and-trade becomes a reality, get ready for a potential multi-trillion dollar commodities market that could sprout up quickly, but not without growing pains.Council sets up climate [scam] unit to reduce carbon footprint (From Bradford Telegraph and Argus)
“I’m estimating carbon markets could be worth $2 trillion in transaction value – money changing hands – within five years of trading (starting),” says Bart Chilton, a Commodity Futures Trading Commission (CFTC) commissioner, who's also chairman of its energy and environmental markets advisory committee. “That would make it the largest physically traded commodity in the US, surpassing even oil.”
A new Bradford Council team is to take the lead on environmental strategies and reducing the authority’s carbon dioxide emissions.2009: [Steven Chu admits that we don't already "have the technology"]
The environment and climate change unit has been created after a commitment was made in this year’s budget of £300,000 a year to run the service.
"We will need a new industrial revolution," Chu said in an interview about how states like Ohio with old industries can and must make the jump to new technologies such as fuel cells and wind turbines2008: [Gore claims that we DO already "have the technology"
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"Quite frankly some of the technologies we will need we don't have a hard price tag on," Chu said, "like carbon capture and sequestration," in which utilities capture the CO2 from smoke stacks and injection it deep underground.
"We have to stop this, and the truth is we can," Gore said. "We have the technology. If we just had one week's worth of what we spend on the Iraq war we could be well on our way to solving this challenge."
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