A Goldman Sachs report on the Waxman-Markey climate bill, recently issued to Goldman Sachs’ clients, confirms Breakthrough Institute analysis showing the legislation would result in one of the largest commodity markets in the world subject to significant speculation by financial firms, and would have relatively marginal impacts on the renewable power industry.
So, Goldman will try to game the carbon trading market too, and if by doing so they screw up the environment even more, they’ll not care a whit. They claim no social responsibility and are proud to do so.
Really, it’s a pity. With all that supposed brains and money, they could help create new businesses and industries, something which would benefit both themselves and society long-term. But that would require a long-term view and thinking about something besides themselves.