felixthecat
October 13th, 2007, 07:57 PM
The Money and Connections Behind Al Gore’s Carbon Crusade
by Deborah Corey Barnes
Posted: 10/03/2007
...
The ‘Cap-and-Trade’ System
To resolve the “climate crisis,” Gore wants to put a cap on the production of greenhouse gases. He calls for an immediate freeze on U.S. emissions, a ban on new coal-fired power plants, tough new fuel-economy and energy-efficiency standards, renewable energy mandates, carbon taxes and mandatory targets and timetables for reducing greenhouse-gas emissions. Those emissions consist mostly of carbon dioxide (CO2), the byproduct of fossil fuels such as oil, coal and natural gas, which supply 85% of all U.S. energy. Gore’s blueprint to save the planet moves the United States towards a command economy in which government regulators hold sway over what kinds and amounts of energy will be made available to the private sector. His principal regulatory tool is what’s called carbon-credit trading.
Under a so-called “cap-and-trade” system, government places a ceiling or “cap” on private-sector emissions of CO2 and other “greenhouse gases.” Each sector, industry or business is allocated a fixed quantity of carbon credits that allow it to emit specific quantities of greenhouse gases. As an example, one tradable carbon credit might permit the emission of one ton of CO2. If a business emits more tons of CO2 than its supply of credits allows, it has the option to buy surplus credits from other firms -- or it will have to pay a fine in proportion to the amount of the excess emission. By contrast, businesses that emit less than their allocation can sell their excess credits.
This system, which may sound market-friendly, is something only a bureaucrat could dream up. The twist is that the carbon market exists only because the government’s imposition of a cap creates an artificial scarcity in the right to produce energy. In a cap-and-trade system, buyers will purchase their offsets from a broker or through an electronic trading platform.
...
The U.S. Senate voted 95 to 0 not to ratify the Kyoto treaty in 1997. But that hasn’t stopped Al Gore.
...
Al Gore is chairman and founder of a private equity firm called Generation Investment Management (GIM) ... CCX owes its existence in part to the Joyce Foundation, the Chicago-based liberal foundation that provided $347,000 in grant support in 2000 for a preliminary study to test the viability of a market in carbon credits. On the CCX board of directors is the ubiquitous Maurice Strong, a Canadian industrialist and diplomat who, since the 1970s, has helped create an international policy agenda for the environmentalist movement. Strong has described himself as “a socialist in ideology, a capitalist in methodology.” His former job titles include “senior advisor” to UN Secretary General Kofi Annan, “senior advisor” to World Bank President James Wolfensohn and board member of the United Nations Foundation, a creation of Ted Turner. The 78-year-old Strong is very close to Gore.
...
Clearly, GIM is poised to cash in on carbon trading.
Connect the Dots
...
So it seems banks and investment houses are going green, eager to enter an emerging emissions market. Meanwhile, environmentalists are discovering new ways to get rich while believing they are saving polar bears and rainforests.
More here:
http://www.humanevents.com/article.php?id=22663#continueA
The hypocrisy just gets worse and worse. Socialists dying to control you and profit from you while you are literally at their mercy to carve out a living - all based on a hoax. Gore will be an extrmely WEALTHY man if this happens.
by Deborah Corey Barnes
Posted: 10/03/2007
...
The ‘Cap-and-Trade’ System
To resolve the “climate crisis,” Gore wants to put a cap on the production of greenhouse gases. He calls for an immediate freeze on U.S. emissions, a ban on new coal-fired power plants, tough new fuel-economy and energy-efficiency standards, renewable energy mandates, carbon taxes and mandatory targets and timetables for reducing greenhouse-gas emissions. Those emissions consist mostly of carbon dioxide (CO2), the byproduct of fossil fuels such as oil, coal and natural gas, which supply 85% of all U.S. energy. Gore’s blueprint to save the planet moves the United States towards a command economy in which government regulators hold sway over what kinds and amounts of energy will be made available to the private sector. His principal regulatory tool is what’s called carbon-credit trading.
Under a so-called “cap-and-trade” system, government places a ceiling or “cap” on private-sector emissions of CO2 and other “greenhouse gases.” Each sector, industry or business is allocated a fixed quantity of carbon credits that allow it to emit specific quantities of greenhouse gases. As an example, one tradable carbon credit might permit the emission of one ton of CO2. If a business emits more tons of CO2 than its supply of credits allows, it has the option to buy surplus credits from other firms -- or it will have to pay a fine in proportion to the amount of the excess emission. By contrast, businesses that emit less than their allocation can sell their excess credits.
This system, which may sound market-friendly, is something only a bureaucrat could dream up. The twist is that the carbon market exists only because the government’s imposition of a cap creates an artificial scarcity in the right to produce energy. In a cap-and-trade system, buyers will purchase their offsets from a broker or through an electronic trading platform.
...
The U.S. Senate voted 95 to 0 not to ratify the Kyoto treaty in 1997. But that hasn’t stopped Al Gore.
...
Al Gore is chairman and founder of a private equity firm called Generation Investment Management (GIM) ... CCX owes its existence in part to the Joyce Foundation, the Chicago-based liberal foundation that provided $347,000 in grant support in 2000 for a preliminary study to test the viability of a market in carbon credits. On the CCX board of directors is the ubiquitous Maurice Strong, a Canadian industrialist and diplomat who, since the 1970s, has helped create an international policy agenda for the environmentalist movement. Strong has described himself as “a socialist in ideology, a capitalist in methodology.” His former job titles include “senior advisor” to UN Secretary General Kofi Annan, “senior advisor” to World Bank President James Wolfensohn and board member of the United Nations Foundation, a creation of Ted Turner. The 78-year-old Strong is very close to Gore.
...
Clearly, GIM is poised to cash in on carbon trading.
Connect the Dots
...
So it seems banks and investment houses are going green, eager to enter an emerging emissions market. Meanwhile, environmentalists are discovering new ways to get rich while believing they are saving polar bears and rainforests.
More here:
http://www.humanevents.com/article.php?id=22663#continueA
The hypocrisy just gets worse and worse. Socialists dying to control you and profit from you while you are literally at their mercy to carve out a living - all based on a hoax. Gore will be an extrmely WEALTHY man if this happens.