“Nothing more poignantly reflects the collapse of the great global warming scare than the decision of the Chicago Carbon Exchange, the largest in the world, to stop trading in “carbon” – buying and selling the right of businesses to continue emitting CO2. A few years back, when the climate scare was still at its height, and it seemed the world might agree the Copenhagen Treaty and the US Congress might pass a “cap and trade” bill, it was claimed that the Chicago Exchange would be at the centre of a global market worth $10 trillion a year, and that “carbon” would be among the most valuable commodities on earth, worth more per ton than most metals. Today, after the collapse of Copenhagen and the cap and trade bill, the carbon price, at five cents a ton, is as low as it can get without being worthless.”
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Samizdata quote of the dayFebruary 20th, 2012 |
 3 comments to Samizdata quote of the day |
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You would need a heart of stone not to smile!
Poignant is hardly the word that first sprung to mind.
The whole shebang was a crony deal set up in anticipation of favorable legislation that would create a market where none had any need to exist.
As the bankruptcy of the similar european mart in a wave of corruption demonstrated, this was a pure scam.
Reality intervened and, mirabile dictu, the whole phony deal came crashing down.
Every once in a while, cosmic justice arrives sooner rather than later.
Founded by Barack Obama and co (with money they looted from Charitable Foundations).
Then passed on to Goldman Sachs and co,as part of the nexus of the far left and crony capitalists that is at the rotten heart of Chicago and much of the rest of the United States. Hey Valerie J. you slum lord – how many poor people died in those Hell-hole government subsidized “private-public partnership” social housing projects? And how much money did you make out of them?. Is this what you mean by “social justice”? Of course it is what these people mean – they want the poor to be as desperate and dependent as possible, so they can be USED to “fundementally transform” society. It was (of course) V.J. (Barack Obama’s “Other Self” – just as Colonel House was the “Other Self” of Woodrow Wilson) who brought Van Jones (of STORM and other Marxist paramilitary organizations), to the Dark Throne itself – “we have watched your work in Oakland for a long time and we have use for you….”
Chicago was bad enough under the old Chicago Machine – but after the first Mayor Daley died a new generation of politicians (such as Harold Washington who was basically a far leftists himself, and Baby Daley – who was just ultra cynical) made deals and brought the far left into the heart of the Machine.
Thus corrupt stuff like the “Chicago Climate Exchange” came to be.