Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading ... trading imaginary climate benefits for real dollars... -- the only purpose for which it was founded -- this year.
Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub of the mandatory carbon trading established by a cap-and-trade ... a government initiative to set limits on carbon emissions that could then be traded for money by the people who designed it ... ... by and for the people who designed it ... law, like the Waxman-Markey scheme passed by the House in June 2009. At its founding in November 2000, it was estimated that the size of CCX's carbon trading market could reach $500 billion. That estimate ballooned over the years to $10 trillion.
Posted by: Fred ||
11/09/2010 00:00 ||
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NOT-DA-BAND CHICAGO
versus
* WMF > IS THE US USING "WEATHER WEAPONS" AGZ CHINA: ABNORMAL FREQUENCY OF HURRICANES DEV FROM WATERS AROUND US GUAM BASE.
Yuh oh, methinks this means CHINA has finally spotted the [high-energy] "AURORA" futuristic plane flying around GUAM-WESTPAC???
#4
Richard Sandor, a mega donor to the Democrats, founded the exchange. A lot of corporations bought into this, presumably to garner political favors. The price of carbon credit has been near zero for about a year.
sic transit BS mundi
Posted by: Lord Garth ||
11/09/2010 8:42 Comments ||
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Good. I can only hope the rest of this scam will die as well, but I fear it will keep being resurrected to haunt us again.
Posted by: European Conservative ||
11/09/2010 10:28 Comments ||
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But wait, there is hope, CALIFORNIA, in a further display of liberal wisdom during the last election, has just started establishing an exchange run by the California Air Resources Board ......I kid you not!
#9
So come on down to Al Gore's House of Inconvenient Truth! Everything must go! No credit? No problem! Deals! Deals! Deals! You want 'em, we'll make 'em! We eliminate the middleman and pass the savings on to YOU! Cake and ice cream for the kiddies! Have your picture taken with Melty the Polar Bear! Al Gore's House of Inconvenient Truth! Open til midnight! Se habla espanol! Come on down!!!
With President Obama out of the country tweaking things in Asia, carefully not bowing this time, and packing away some pista murg and balak papri chat, his trusty sidekick Joe Biden is left to find things to do back home.
There's a big Diwali party tonight at the White House. The vice president will be there.
But first, JB has a breakfast meeting with Sen. Chuck Hagel and then another one of those Middle Class Task Force events to try to find some of those thousands of missing green energy jobs that have been promised so often.
Joe's had some problems with promises recently. He assured everyone that last summer would be full of economic recovery. Which it wasn't. And Joe guaranteed that his Democratic Party would maintain majorities in both houses of Congress in last week's midterm election. Which it didn't.
Possibly the most important event of the vice president's day Tuesday is to meet at 2:15 with Earl Devaney. Everyone knows him as chairman of the Recovery Accountability and Transparency Board -- the top guy monitoring the gazillion-dollar stimulus and the overdue economic recovery, and ensuring that the taxpayers financing same know all about it.
However, no one outside the room will know what goes on in that Biden-Devaney meeting. That's because the government meeting on government transparency has been closed. Seriously, why do they even try anymore? They should just meet and not announce what is about so they can at least scheme to pull the wool over our eyes without looking like clowns.
just in time for Darrell Issa (R-Kicking Corrupt Ass). HT to Yid with Lid. By the way, how is it the 'Burg doesn't have a stock photo of this prune-faced racist bitch?
Wossa motta with this one?
Posted by: Frank G ||
11/09/2010 08:26 ||
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huh? How'd I miss that? Mo' coffee please?
Posted by: Frank G ||
11/09/2010 9:37 Comments ||
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Oh (*&#*^%#&%#. Now I have to get all the coffee out of the keyboard.
Seems like the midcourse correction's already here.
[Al Arabiya] Followed by the politics of home, President Barack B.O. Obama on Sunday acknowledged that he must make some "midcourse corrections" if he is to win over a frustrated electorate and work with resurgent Republicans.
On the second of the three days he is spending in India, Obama arrived in New Delhi on Sunday afternoon in the company of his wife, Michelle. Among his airport greeters were Prime Minister Manmohan Singh, who apparently broke the normally rigid rules of protocol by making the trip to personally welcome Obama to the Indian capital.
Earlier in the day while in Mumbai, Obama appeared before college students eager to question him. He told one that the midterm elections back home reflected the "right, obligation and duty" of the voters to express their unhappiness with the state of U.S. affairs by voting out many incumbents, the majority of whom are Democrats like Obama.
The president himself wasn't on the ballot last week, but his party took a beating. Republicans won control of the House, eroded the Democratic majority in the Senate, made huge gains at the state level and broadly changed the political landscape as Obama begins looking ahead to his own re-election campaign in 2012. Not a pretty sight from this perspective...
Obama said he will not change his determination to move America forward by handing out money to teachers' unions, infrastructure and clean energy despite mounting pressure in Washington to cut spending. But he said, without elaborating, that the election "requires me to make some midcourse corrections and adjustments."
How those will play out over the next several months, Obama said, will depend on his talks with Republicans. His comments seemed to reflect a deeper acknowledgment of the need for change by the White House, but as he did at a news conference the day after the election, Obama stayed purposely vague on how he would reposition his agenda.
The town hall with students, now a staple of Obama's foreign travel, was part of his outreach to this democracy of more than 1 billion people. India is an emerging power in Asia and an increasingly important partner to the U.S. on trade and security, in part because its rise offers a measure of balance to the growing strength of China.
The president is in the midst of his lengthiest trip abroad as president, a 10-day journey across India, Indonesia, South Korea and Japan. He began Sunday by showing a softer side, chatting with students at another school and even dancing with them, albeit reluctantly, after his wife had eagerly done the same.
Posted by: Fred ||
11/09/2010 00:00 ||
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[Obama] acknowledged that he must make some "midcourse corrections"
Yeah, how about tossing out the whole %$&*^!@+ agenda for taking this country into ruin?
#2
I would guess that a mid course correction involves a deflection of less than 45 deg. To correct this mess requires a 180 deg turnaround. That is not a mid course correction.
Posted by: Alaska Paul ||
11/09/2010 11:10 Comments ||
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I consider what the US said to O'Bumble to be "fire suppression", as in artillery fire on target to stop an enemy. We'll have to wait to see what the outcome is, but I think the headlong charge into socialism has been slowed if not stopped.
Posted by: Old Patriot ||
11/09/2010 14:34 Comments ||
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A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
With President Obama out of the country tweaking things in Asia, carefully not bowing this time, and packing away some pista murg and balak papri chat, his trusty sidekick Joe Biden is left to find things to do back home.
