---------------------------------
11/18/11, "What price the new democracy? Goldman Sachs conquers Europe," UK Independent, Stephen Foley
"While ordinary people fret about austerity and jobs, the eurozone's corridors of power have been undergoing a remarkable transformation."
-----------------------------
11/23/11, "Europe's $287 billion carbon 'waste': UBS report," The Australian, by Sid Maher
"SWISS banking giant UBS says the European Union's emissions trading scheme has cost the continent's consumers $287 billion for "almost zero impact" on cutting carbon emissions."...EU CO2 trading provided "windfall profits" to participants paid for by "electricity customers."
------------------------------------------
5/2/12, "Permit glut sparks talk of ‘carbon central bank’," Euractiv
"Analysts say that any one-off EU clearing of the massive glut of carbon permits now clogging the Emissions Trading System (ETS) is likely to lead to a ‘central bank' or other policy tool to manage future imbalances.
But the European Commission is cautious about entrenching such a mechanism in the ETS, which is the bloc's chief weapon to fight climate change.
Figures released today (2 May) show that 254 million carbon offsets worth around €2.6 billion were used in 2011, an 85% increase on 2010, despite statistics showing that the EU emissions continue to fall, due to recession.
Companies are thought to have been trying to maximise their use of offsetting allowances before the current trading current phase of carbon trading comes to an end in late 2012.
Analysts and observers say a new tool is needed to fix an oversupply estimated at several hundreds of millions of carbon permits, because EU carbon prices - now trading below €8 a tonne -
- are way too low to drive green investment.
Europe's recession has slowed industrial output and growth, limiting CO2 emissions, and creating a vast over-supply of carbon credits, most of which were provided freely to over 10,000 industrial and power plants for trading purposes.
Market analysts predict that the market will now be oversupplied until at least 2020. Carbon prices have fallen some 60% in 12 months and recently hit a record low of just under €6 a tonne....
Next year, EU states plan to auction around half - or about 1 billion – of their emissions allowances per year, as the bloc moves towards charging all companies for them.Critics of market intervention argue that it would turn the ETS into a tax, but the Commission has repeatedly said any intervention would be a one-off.
Companies and analysts doubt this and are increasingly suggesting the need for some kind of automatic intervention system.
“Once you allow a politically motivated manipulation it is going to happen on a regular basis because other events or problems will be used to justify intervention” said Russell Mills, global director of energy and climate policy at Dow Chemical.
“If the political forces are so strong that there is no other option than to have some kind of political interference in the market, then as a minimum this should be via some kind of independent carbon central bank that has a very clearly defined and predictable mandate to manage excessive price swings,” he said.
A carbon central bank is one of many measures that could come into force over the next few years, said Scott McGregor, chief executive of Camco, a developer of emissions reductions and clean technology projects."...via Free Republic
----------------------------------------------------------
11/18/11, "What price the new democracy? Goldman Sachs conquers Europe," UK Independent, Stephen Foley
"While ordinary people fret about austerity and jobs, the eurozone's corridors of power have been undergoing a remarkable transformation."
===========================
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,
- called cap-and-trade.
- except it has one delicious new wrinkle:
- will be government-mandated.
- Goldman won't even have to rig the game.
-------------------------
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)
---------------------------
7/28/10, "The secrets 10 states and Wall Street don't want you to know," by Mark Lagerkvist, NJ Watchdog
======================
CO2 does not cause temperatures to increase. The CO2 trading program only benefits the rich and organized crime.
Lovelock says CO2 is up but temps remain the same. Lauded by Time Magazine in 2007, now retracts earlier predictions such as Florida sinking by 2040. Entire climate industry pivots on now disproved notion that CO2 causes rising temperatures.
4/23/12, "'I made a mistake': Gaia theory scientist James Lovelock admits he was 'alarmist' about the impact of climate change," UK Daily Mail, L. Warren
===============
7/16/10, "Carbon Trading Used as Money-Laundering Front," Jakarta Globe
===========================
10/8/10, "Murder on the Carbon Express: Interpol Takes On Emissions Fraud," Mother Jones, M. Schapiro
----------------------------------------------
4/30/12, "HadCRUT Scientists Connect The Dots: Global Warming Has Switched To Global Cooling Over Last 15 Years," C3 Headlines
---------------------------------------
11/25/2009, "Global warming industry becomes too big to fail," Timothy Carney, Washington Examiner
----------------------------------------
4/16/09, "Wall Street realized there was money to be made by going green." Robert Redford
--------------------------------------
4/4/12, "The inconvenient truth of carbon offsets," Nature, Kevin Anderson
.
No comments:
Post a Comment