The meaning of Cap and Trade
In the most recent thread on the warming issue, Bill Carpenter writes:
The proposed political remedies to this manufactured crisis, taken as a whole, amount to a government seizure of the atmosphere. The air that used to be free and open to all is being seized by bureaucrats and treated as government property that they can tax you for using. “Cap and trade” equals “license to breathe.”To which I replied:
Absolutely. A minute of thought reveals Cap and Trade to be the most far reaching grab for control of human activity ever conceived, as well as a recipe for unlimited corruption and the massive transfer of wealth. Under Cap and Trade, all economic activity would revolve around the awarding and exchange of carbon credits. In this uber Atlas Shrugged-ian nightmare, government functionaries decide who gets enough carbon credits to function and who doesn’t. Friends of the regime or those who pay large enough bribes would get lots of carbon credits, many more than they need to operate their businesses, which they could then sell to non friends of the regime who are not so favored and who must have the credits in order to keep their businesses going. Nonwhites, non-Westerners, and women would get lots of carbon credits, which whites, Westerners, and men would have to buy from them.
A. Zarkov writes:
Mr. Auster writes, “Nonwhites, non-Westerners, and women would get lots of carbon credits, which whites, Westerners, and men would have to buy from them.”Ray G. writes:
As bad as Obamacare is, I actually fear this climate change nonsense more. It’s simply a way to spread the wealth and “level” all the nations and peoples of the earth, something Obama is very, very big on. He made a point of saying in the ‘08 campaign that he favors a global tax of some kind to relieve poverty. This is it by another name. The US is to be “de-fanged” as an industrial/military/economic power and brought down a few notches.Rick U. writes:
So, Cap and Trade is really just reparations for the Industrial Revolution? The West continues its suicide.A. Zarkov writes:
The July 9-23, 2009 issue of Rolling Stone Magazine has an article by Matt Taibbi on Goldman Sachs and how it profits from economic bubbles. Starting on page 98 Taibbi writes about “Bubble #6”—Global Warming. He explains how Goldman Sachs will make a bundle. Here’s how that will work according to Taibbi. The government will keep lowering the “caps” creating a scarcity of carbon credits. This will create a new bubble as the value of credits shoot up. Traders will bid up the price in anticipation of further lowering of caps. Goldman Sachs has been lobbying for C & T for years. In 2005 when Henry Paulson was CEO of Goldman he authored a report on the bank’s environmental policy putting the bank solidly in the warmist camp. No surprise as Goldman is invested in wind solar power. It bought Horizon Wind Energy and other so-called “green enterprises.” It also owns a 10% stake in Chicago Climate Exchange where carbon credits will be traded. This is a partial list. Without the warming scare there is no C & T. Always follow the money to understand what’s happening. Anyone who understands some physics and finance knows the problems with wind and solar energy. The whole thing is a scam.
Posted by Lawrence Auster at December 10, 2009 11:32 AM | Send