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The Crash Of The Climate Exchange
IBD Editorials ^ | November 9, 2010 | Staff

Posted on 11/09/2010 5:47:55 PM PST by Kaslin

Climate Fraud: As the case for global warming and cap-and-trade has collapsed, so too has the market that was to exploit this manufactured crisis for fun and profit. The climate-change bubble has burst.

Lost in the hubbub leading up to the Republican and Tea Party tsunami on Nov. 2 was the collapse of the Chicago Climate Exchange (CCX). But its implications for the future of the American economy and the business climate are staggering: It is an acknowledgment that both the case for climate trade and cap-and-tax legislation has also collapsed.

On Oct. 21 the exchange announced it was ending carbon trading, which, as Pajamas Media's Steve Milloy points out, was "the only purpose for which it was founded." Launched as a "voluntary" method of trading "carbon credits," CCX rested on the hope that cap-and-tax legislation would make such trading mandatory — and profitable.

CCX billed itself as "North America's only cap-and-trade system for all six greenhouse gases, with global affiliates and projects worldwide." Barack Obama served on the board of the Joyce Foundation from 1994 to 2002, when it issued CCX start-up grants. Presidential adviser Valerie Jarrett also once sat on the Joyce board. As president, cap-and-trade is one of Obama's highest priorities.

The exchange's founder, Richard Sandor, says he knew Obama as far back as when the Joyce Foundation awarded money to the Kellogg Graduate School of Management, where Sandor was research professor. He estimated that climate trading could be "a $10 trillion market," which it very well might have been if cap-and-trade legislation like Waxman-Markey and Kerry-Boxer made into law. But now, in the wake of Climate-gate and other scandals, as well as recent election results, that's an unlikely event.

(Excerpt) Read more at investors.com ...


TOPICS: Culture/Society; Editorial
KEYWORDS: algore; carbon; carbontax; ccx; climateexchange; climategate; co2; cru; glaciergate; globalwarming; gore; ipcc

1 posted on 11/09/2010 5:47:56 PM PST by Kaslin
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To: Kaslin

IMHO, this was a dirty scam....


2 posted on 11/09/2010 5:50:22 PM PST by Sacajaweau
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To: Kaslin

Remember watch the other hand.......... this cap and trade show is not over it’s gone underground. Click on “cap and trade” audio track 11/4/2010 link below
http://taxpayerminute.com/?q=latest


3 posted on 11/09/2010 5:52:59 PM PST by ronnie raygun (Why is it when I hear compromise I hear crickets)
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To: Kaslin

“a $10 trillion market,”

Splains a lot!


4 posted on 11/09/2010 5:53:15 PM PST by StAntKnee (I keep thinking I'm gonna wake up from this dream theatre of the absurd.)
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To: Kaslin

Looks like a bunch of “green job” fraudsters are gonna be out of a job. LOL! Trading air always seemed like a goofy idea to me. “You can keep polluting! Just pay me to do it!” ROTFL! What a scam! I can’t believe that there are morons out there dumb enough to fall for it.


5 posted on 11/09/2010 5:54:42 PM PST by FlingWingFlyer ("In God We Trust", everyone else must show proof of citizenship.)
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To: Kaslin

I hope most of the people involved are bankrupt.


6 posted on 11/09/2010 5:55:35 PM PST by Psycho_Bunny (Hail To The Fail-In-Chief)
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To: Kaslin

Cover for a scandal involving a high official?


7 posted on 11/09/2010 5:57:29 PM PST by loveliberty2
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To: Kaslin
“The biggest losers are CCX’s two biggest investors, Al Gore's Generation Investment Management and Goldman Sachs...”

Now Al, let's not get snippy!

Considering the potential losses by some very powerful people and organizations, if I were Algore, I'd be keeping a low profile and hiring a lot of security.

Excelsior! I'm serial.

8 posted on 11/09/2010 5:57:52 PM PST by Mobties (Let the markets work! Reduce the government footprint!)
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To: Kaslin

Excellent news.


9 posted on 11/09/2010 6:02:26 PM PST by snowsislander (Chicago-style politics at a national level is a national disgrace.)
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To: Psycho_Bunny
They'll get a bailout, and Obummer will funnel the money to them by backdoor means. Never assume that the visible portion of a scam is the real story. There's too much money to be stolen for them to simply have given up.
10 posted on 11/09/2010 6:04:34 PM PST by bitterohiogunclinger (Proudly casting a heavy carbon footprint as I clean my guns ---)
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To: Sacajaweau

wonder how much AlGore has lost in this.....


11 posted on 11/09/2010 6:06:56 PM PST by Former MSM Viewer
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To: Psycho_Bunny
I hope most of the people involved are bankrupt.

That's a good start.

I won't be satisfied until they assume a position next to Bernie Madoff or Ken Lay (yes, I know Ken Lay is dead).

12 posted on 11/09/2010 6:31:32 PM PST by seowulf ("If you write a whole line of zeroes, it's still---nothing"...Kira Alexandrovna Argounova)
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To: Kaslin

And here I thought Algore was too big to fail.


13 posted on 11/09/2010 6:34:48 PM PST by SERKIT ("Blazing Saddles" explains it all.....)
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To: Kaslin

Now we have to get rid of the ethanol fuel scam.


14 posted on 11/09/2010 7:19:06 PM PST by Newtoidaho (Liberals are drooling buffoons backed by satanic goons.)
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To: ronnie raygun

“Remember watch the other hand.......... this cap and trade show is not over it’s gone underground.”

That’s right - don’t be complacent - watch the other hand. These people aren’t going away, they’ll just go underground

And along with the underground efforts of the various individuals and organizations of green scammers, the EPA still conspires to regulate carbon and other emissions through the back door -— if we let them get away with it -— which we won’t.


15 posted on 11/09/2010 7:31:53 PM PST by Matchett-PI (This is a RESTRAINING ORDER not merely an 'election' ~ PJ O'Rourke.)
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To: SERKIT
"And here I thought Algore was too big to fail."

And he was too fail to be big.

16 posted on 11/09/2010 7:51:12 PM PST by Senator Goldwater
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To: Kaslin

they “got”... “healthcare” instead...it was always going to be one or the other...when healthcare bombed in 1994...they then chased Cap and trade which Gore was supposed to implement in 2000 after he won the election. when he bombed the race was on between healthcare and Cap n’Trade once again.


17 posted on 11/09/2010 7:56:41 PM PST by mo
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To: Kaslin
How about this skeevy assclown:

"For his efforts, Sandor was named as one of Time magazine's "Heroes of the Planet" in 2002 and one of its "Heroes of the Environment" in 2007. Sanders eventually sold his 16.5% stake in CCX for $98.5 million, making him a hero of take-the-money-and-run."

18 posted on 11/09/2010 7:59:19 PM PST by Senator Goldwater
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To: Kaslin

What makes anyone think that they have given up on cap and trade? Soros is heading some economic commission for Obama that is due to make its report on a global plan for a carbon tax. It’s far from over, it’s just moved out of congress temporarily.


19 posted on 11/09/2010 8:03:43 PM PST by Eva
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To: steelyourfaith

Ping.


20 posted on 11/09/2010 8:14:19 PM PST by Army Air Corps (Four fried chickens and a coke)
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To: Army Air Corps; scripter; Darnright; WL-law; bamahead; carolinablonde; SolitaryMan; rdl6989; ...
Thanx Army Air Corps !

 


Beam me to Planet Gore !

21 posted on 11/09/2010 8:22:08 PM PST by steelyourfaith (ObamaCare Death Panels: a Final Solution to the looming Social Security crisis ?)
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To: Former MSM Viewer

That fat prick and the goldman pricks will not lose much if anything. Their risk was sold via stock which has become a shield for the super wealthy.


22 posted on 11/09/2010 9:19:20 PM PST by liberty or death
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To: Kaslin

Somebody lost money. I hope it was those Hollywood liberals.


23 posted on 11/09/2010 9:21:46 PM PST by Rocky (REPEAL IT!)
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To: FlingWingFlyer; Kaslin; Mobties

Memory bubble alert!

Does anyone remember this classic 1970 Sesame Street routine?
“Sesame Street - Lefty sells “air” to Ernie”

www.youtube.com/watch?v=7_TsPrlj7Zs&feature=related


24 posted on 11/09/2010 11:11:53 PM PST by sinanju
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To: Tolerance Sucks Rocks; Nachum; markomalley; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

Ping


25 posted on 11/10/2010 6:07:29 AM PST by raptor22 (The truth will set us free)
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To: Tolerance Sucks Rocks; Nachum; markomalley; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

Ping


26 posted on 11/10/2010 6:09:22 AM PST by raptor22 (The truth will set us free)
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To: raptor22
Global cooling warming climate change is the scam of the century and will not die a quiet death. We continue to burn our food as fuel and tilt at windmills, all paid for out of tax dollars.
27 posted on 11/10/2010 8:17:25 AM PST by SouthTexas (WE are the Wave - Vote Nov 2)
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To: SERKIT

28 posted on 11/12/2010 11:08:11 AM PST by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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