The Cap & Trade Heist - Part 1

In my last post I called this Cap & Trade concept the biggest heist in American History. This scam being pushed on an unwary public reminds me of the derivatives market and the consolidated debt obligations (CDO’s) concocted by Wall Street, only this is designed by left wing politicians and environmental zealots to scam money, develop celebrity, obtain government funds, write articles, and make a good living, all in the name of social justice and saving the planet.

Since beginning this blog in February, 2009 I have written several articles related to this subject. It would be beneficial to review these before you get into this subject. They are as follows:

Global Warming Uncovered 12/02/09
Climate Change Facts – Obama Lies 6/29/09
Global Warming and Bad Science 6/11/09
Nuclear Waste: An Imagined Problem 3/16/09

Cap & Trade is a concept that is aimed at reducing greenhouse gas emissions by placing a cap on these emissions based on a company’s current levels and providing cap “credits” to companies with emissions below the cap. These credits can be traded among companies to help those that are unable to “meet” their cap while they change their processes to get into compliance. Obviously, large companies with high carbon footprints can “buy” these credits from companies with smaller footprints who don’t need the credits. This will be costly for the energy-oriented industries so these costs will be passed on to the consumer and as President Obama said “energy costs will sky rocket” but in the long term this will be better for the planet.

His administration’s stated goal is “80 by 50” (80% reduction in CO₂ emissions by 2050), a reduction of 20 tons/person which would give us a carbon footprint like the one we had during the Mayflower days. This goal is obviously unrealistic and unachievable, but as long as most of us don’t know that, President Obama can set it anyway, he most likely won’t be alive then so he won’t be held accountable. Remember, there is no conclusive scientific evidence that man-made CO₂ affects the climate in anyway, it is only a theory at this point!

Well, in order to trade these emission credits we need some sort of commodity exchange, right? Also, in order to set up this exchange we need investors, we need technology to justify the concept, we need laws to develop the rules of operation, and we need some sort of cover so it can operate without a lot of public scrutiny. We don’t want the people to know how all these union and labor groups, elected officials, former scam artists, and environmental and social justice groups are making out on this. So, believe it or not, the Chicago Climate Exchange (CCX) was set up in 2003. Hummm….…Chicago, now that’s interesting.

This exchange really started rolling when the Democrats took control of Congress, Barack Obama was a presidential candidate, and Cap & Trade became more than a concept in the U.S. Also, remember now what we are doing, trading puffs of air (containing a small amount of CO₂) which hasn’t been generated yet, and currently has no value at all. Who would be crazy enough to invest in that?

Part II of the Cap & Trade heist next.