The government says cap and trade dropped acid rain emissions 50% in the Northeast. However, dealing with GHGs worldwide is way more complicated than reducing one pollutant gas in one area. Especially when polluters could and did simply move polluting plants from the Northeast to elsewhere. Also, low-sulfur coal became economical at the same time. [...]
Posts Tagged ‘cap-and-trade’
How to cheat with carbon credits
Here’s one of the problems with carbon credits — It is very easy for developing countries to game the system. They can essentially say that they were planning to do something environmentally damaging, then switch to a ‘greener option’ and collect carbon credit income. Yet if the greener option was their original intent then the [...]
Woman who invented credit default swaps is one of the key architects of carbon derivatives, which would be at the very CENTER of cap and trade
According to top experts, risky derivatives were not only largely responsible for bringing down the American (and world) economy, but they still pose a substantial systemic risk.
Now, Bloomberg notes that the carbon trading scheme will be largely centered around derivatives.
CDS were invented by Blythe Masters, who now heads JPMorgan’s carbon trading and insists banks must [...]
Cap and Trade. Think it’s not a scam? think again
The Story of Cap & Trade from Story of Stuff Project on Vimeo.
Naturally our favorite vampire squid, Goldman Sachs, as well as other such parasites, have their tentacles deep into the “trade” part of cap and trade, as well as intending to game the system so they make billions. Then there are the separate issues [...]
Copenhagen. 40 days to get a climate deal. But the deal is rigged
The Guardian details the various political machinations that might derail any agreement on climate change at Copenhagen. However it doesn’t mention the crucial cap-and-trade provisions which if enacted would be used by more speculators to make money rather than helping to reduce carbon emissions.
Six words to expose the scam
After two years of distilling this down, [...]
Emission trading exchanges
Chicago Climate Exchange (CCX), launched in 2003, is the world’s first and North America’s only active voluntary, legally binding integrated trading system to reduce emissions of all six major greenhouse gases (GHGs), with offset projects worldwide.
Reductions achieved through CCX are the only reductions made in North America through a legally binding compliance regime, providing independent, [...]
