Goldman Sachs backed RGGI has sold nearly $1 billion in 'climate' allowances which are paid for by chump consumers and businesses via higher rates

But Goldman Sachs 'cares'...Pathetic NJ Republican Batemen apparently buys the Goldman Sachs rap.

3/16/12, "It’s Deja Vu All Over Again As RGGI Fails To Get Override Numbers," NJ Today, by Scott St. Clair from NJ Watchdog

"It is deja vu all over again for legislation that would require New Jersey to rejoin the Regional Greenhouse Gas Initiative, a controversial carbon dioxide cap-and-trade program.

The state Senate passed the bill by a 22-15 vote Thursday, but just like before, it fell short of the two-thirds majority necessary to override another veto promised by Gov. Chris Christie.

Beginning this year, Christie halted the state’s participation in RGGI with nine other states. When the Legislature tried to force New Jersey back into the program last session, the governor used his veto power to stop it.

This time around, Sen. Christopher “Kip” Batemen, R-Somerset, broke party ranks to join Democrats in supporting the legislation. But RGGI supporters are still five votes short of the 27 that would be needed in the Senate to override a veto.

An Assembly vote scheduled for Thursday was indefinitely postponed.

Since 2008, RGGI has sold $952 million in carbon allowances, including $113 million on behalf of New Jersey. Under the program, utilities are required to obtain an allowance for each ton of CO-2 released by their electric generators. The cost is ultimately passed along to businesses and consumers in the form of higher rates for electricity.

“RGGI does nothing more than impose a tax on electricity,” Christie said in his veto message last year.

Nine states have remained in RGGI: New York, Connecticut, Massachusetts, Maine, New Hampshire, Vermont, Rhode Island, Delaware and Maryland."

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7/28/10, "The secrets 10 states and Wall Street don't want you to know," by Mark Lagerkvist, NJ Watchdog

"Under the RGGI scheme, the smell of profiteering is powerful. New Jersey and nine other Northeast states have sold

• $662 million in carbon dioxide permits since 2008.

The bidders at RGGI auctions include Goldman Sachs, Morgan Stanley, Merrill Lynch, JPMorgan Chase and other Wall Street heavyweights....



image above from NJ Watchdog

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On Goldman Sachs and CO2 fraud from Rolling Stone, July 2009:

"A groundbreaking new commodities bubble,

• disguised as an "environmental plan"

• called cap-and-trade."...

7/02/09, "The Great American Bubble Machine: How Goldman Sachs has Engineered Every Major Market Manipulation Since the Great Depression," Rolling Stone, by Matt Taibbi

"A groundbreaking new commodities bubble,

• disguised as an "environmental plan"

• called cap-and-trade.

The new carbon-credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman,

• except it has one delicious new wrinkle:

If the plan goes forward as expected, the rise in prices

• will be government-mandated.

• Goldman won't even have to rig the game.

It will be rigged in advance."...

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11/12/08, "Goldman Sachs Buys into Carbon Offsets," NY Times Green, Inc. Blogs

10/27/08, "Street Cred: Goldman Sachs Buys into Carbon Credit Developer," WSJ Blogs (RGGI mentioned here)

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"Wall Street realized there was money to be made by going green." Robert Redford

4/16/2009, "Live from the Ceres Conference: Robert Redford Charms Audience," Green Biz, Amie Vaccaro

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Banks have begun dropping out of European 'carbon trading.'

• UBS Bank freely says the cap and trade program has not helped the climate.

11/23/11, "Europe's $287bn carbon 'waste': UBS report," The Australian, Sid Maher

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The 'climate change' issue isn't even about climate but a 'transfer of wealth' as stated by at least 3 UN officials:

1. UN IPCC Nobel winner, Pachauri: ""I am not going to rest easy until I have articulated in every possible forum the need to bring about major structural changes in economic growth and development. That’s the real issue. Climate change is just a part of it."" UN climate chief Pachauri, 2007

2. 11/14/10, Edenhofer, UN IPCC official, "But one must say clearly that we distribute to the climate policy de facto, the world's wealth."...(parag. 5).
And if this happens,

• "Africa is the big winner, and it flows a lot of money there."...(parag. 3).

"Basically it is a big mistake, climate policy is separated from the major themes of globalization discussed. The climate summit in Cancun is not the...climate conference, but one of the largest economic conferences since the Second World War." (parag. 4). Original German.

3. 10/9/10, Christiana "Figueres, executive secretary of the UN Framework Convention on Climate Change (UNFCCC)" said, "This is the greatest societal and economic transformation that the world has ever seen."

(Figueres' resume, long form, page 5 states she is trained and authorized by Al Gore to deliver his movie, "An Inconvenient Truth.")

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RGGI auction brings lowest price allowed, 7th down market

3/16/12, "RGGI auction clears at minimum price of $1.93 per CO2 allowance," Platts.com, Washington

"The Regional Greenhouse Gas Initiative sold 62% of the carbon dioxide allowances being offered at Wednesday's quarterly auction at the reserve price of $1.93/st, the cap-and-trade program's administrator said Friday.

It was the seventh straight auction where buyers bought fewer CO2 allowances than were offered. The auction sold 21.559 million CO2 allowances out of about 34.844 million CO2 allowances being offered by the nine states.

Bids ranged from $1.93 to $5.36 per CO2 allowance. The clearing price was $1.93,

• the lowest price allowed."...

via Tom Nelson. (Ed. note: This post was criminally hacked and defaced. I'm leaving it as is for evidence. The white background inserted behind part of the post is one of the ways the hacker uses to object to free speech).