Wednesday, November 10, 2010

When Al Gore falls, does Nick Smith make a sound? [updated]

Global warming cap-and-trade is this National Government’s big idea (they have damn few, so anything at all is enough to constitute a big one).  Nick Smith’s Emissions Trading Scam is a flagship world-leading policy—leading the world in plundering consumers and shackling producers, in the hope the world will catch on and emulate us.

They’re not.

So here’s a tale for someone to read to Nick Smith.  A story about a man named Al Gore, who several years ago, in the midst of the hype over global warming generated by loud activism, scary science and fraudulent films like his own, got involved in setting up the Chicago Climate Exchange. It really was leading the world. Explains Steve Milloy,

_QuoteAlthough 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 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.

Al and his friends were looking at billions of dollars of profit if they could scam the politicians to pass the bill, or something like it. Never happened. Never will. And so here’s what some recent trading on Al’s exchange looks like:

 chicago_climate_exchange

Impressive, huh?

Al Gore’s exchange is dead, dead, dead.  And it serves the old fraud right.

_QuoteAl Capone tried to use Prohibition to muscle in on a piece of all the action in Chicago. The CCX’s backers wanted to use a new prohibition on carbon emissions to muscle in on a piece of, quite literally, all the action in the world.

And now the CCX, launched to the sound of unrelenting media hype,  is quietly being taken out and shot.

_Quote In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading — the only purpose for which it was founded — this year.

Which leaves just two relevant questions:

UPDATE: The graph of carbon price per metric ton over the life of the exchange is fascinating. Thanks for the link to reader Julian P. who, like me, “finds it really difficult to feel sorry for the people who bought in at 750 cents.”

CCX_final_chartNotice too who else bought into the scam when it was spiking?  Yep, mid-2008 was about when Thick Smith started to go hard on his Emissions Trading Scam.

And a year later, once he’d begun its introduction, the Wall Street Journal had this to say:

_quote To the annals of global warming lunacy, add this gem from New Zealand: According to [the Key Government, Nick Smith and] a parliamentary committee, Kiwis should accept lower standards of living to protect the national image abroad.”
            - ‘Kiwi Carbon Haze,’ Wall Street Journal, September 7, 2009

The image to be created presumably being that of a pack of idiots.

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4 Comments:

Blogger Julian Pistorius said...

Check out the historic prices graph at the Wikipedia article on CCX. I find it really difficult to feel sorry for the people who bought at 750 cents.

11/10/2010 09:58:00 am  
Blogger scrubone said...

From what I've seen of his presentation he implies that Holland would be flooded if sea level rose.

Quite how anyone kept watching his presentation in any circumstances after something as ridiculous as that escapes me.

11/10/2010 10:01:00 am  
Anonymous Anonymous said...

Stand by for law suits by hapless investors who got suckered in, Al!

You really are going to have to defend 'climate change' now.

George

11/10/2010 11:30:00 am  
Anonymous Anonymous said...

Let's keep track of Gore's weight.

When he falls, it will obviously be into a huge pile of manure... they will need to know how much to dip out!

11/10/2010 12:44:00 pm  

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