While a lot of discussion is given to the question of, “Who put the Scientology in Climatology?” there’s another side of climate fudging that needs to air, namely the real costs born by municipalities that have taken the money-bait. Someone has stacked the deck with jokers.
In a con-scheme it believe it’s called a pigeon-drop, and while many people are quick to point out how rendolent California is with fruit-and-nut whackos, there’s another place that is famous for it’s own manure-rich scent of bogosity: Chicago. Guess where the slick city hucksters have been preparing to fleece the numbskull country bumpkins of their carbon, at the Chicago Climate Exchange. In fact due to the current porosity in Climatological Reality, the market’s tanked. Don’t people often use a futures-trading position to look at and determine cultural trends? Here’s a real one:
…Volumes and prices on the Chicago Climate Exchange (CCX) have collapsed, with emissions permits now trading at historic lows of between 10 cents and 15 cents per tonne. That reflects the pervasive uncertainty over what kind of carbon regime the US might have and the CCX role within it.
In fact in some places it’s already been happening on a big scale. In Australia the financial piety has become a mess, with the City of Melbourne plucked for millions of real dollars buying carbon offsets for the city’s vehicles etc. at possibly $4 per unit – priced now at $0.15! How that for you suckers? Terrapass!?! (thanks Andrew Bolt)
What then is the centrality of the University of East Anglia’s Climatic Research Unit whose staff are accused of manipulating climate change data? Besides Algore, Britain has a huge net investment in carbon trading, Globally, the carbon trading market was worth €92bn (£79bn) in 2008, trading 5bn tonnes.
That’s a lot of money tied up in tulips, but it’s not like we haven’t see this kind of idiotic frenzy before. Only now it’s also a religion, as a British judge has ruled in the case of a man who was fired for his extreme environmental beliefs. All the while a report from July if this year out in Britain says that a carbon emissions trading scheme is seriously flawed and in danger of collapse, because,
So-called “hot air” carbon credits – those which do not result in any actual emissions cuts – could be so numerous that companies covered by the EU Emissions Trading Scheme would not have to make any cuts to their own emissions until 2015.
It’s three-card monty, now you see it now you don’t, played out in industry and on Wall Street. Has been Green become Too Big to Fail? Obama’s performance in Copenhagen may give us the answer as to the U.S. net investment – and maybe that’s where all the un-spent “stimulus” billions will finally show-up. Wall Street-to-Wall Street is my guess.
Meanwhile the formerly prominent magazine Scientific American (good grief) went off in the fog with an absurd editorial blaming the evil and horrible and rich Fossil-Fuel industry of a conspiracy (!!) for suborning their own collective religious belief in AGW, by buying commentary and publicizing the ongoing debate (the same way George Soros manipulates world financial markets), which they insist is settled, dammit! Settled!
Meanwhile there is a global carbon trading market that is anticipated to grow to over a trillion US dollars in the next five years, from its current size of over US$100 billion.
According to experts, the industry moved at a slower pace in the last year as a result of the financial crisis. They are also expecting clearer direction to be set after the United Nations Climate Change Conference in Copenhagen, which starts next week.
Ever since the Kyoto Treaty a fantasy financial market has grown up around trading non-existent items (offsets) for religious securities – actual money has traded hands and certainly fortunes have been made.
If redistribution of global assets is really what’s central to this ponzi scheme, why not set up a Photon Trading market so all the poor countries in sun-drenched zones can capitalize on their new-found and sudden wealth? In just months Sudan could go from an impoverished and failed-state exporting piracy to a wealthy hub of Swiss like influence.
Ka-ching! Ka-ching! Ka-ching! This is the sound of settled-science, you can bank on it.