The same blokes who always make the money…
The next time some stupid fucking lefty squeals like an ABC carbon pig over the “big oil” money corrupting the carbon debate point them to this excellent article in Der Speigel.
Its written in a “isn’t this great” tone but the numbers are horrifying.
“..This is no feel-good charity scheme. Enticed by the possibility of high returns from the European Union’s Emission Trading Scheme, financial institutions, including Barclays and Morgan Stanley, have flooded into the Continent’s cap-and-trade carbon dioxide market since its creation in 2005. Now, an estimated $78.6 billion in carbon credits — the right to emit a specific amount of carbon dioxide — are traded annually on the EU ETS. And trades in other carbon-related financial products, such as derivatives and futures, are posting double-digit gains each year..”
So the non-productive section of the economy is effectively taxing the productive side of industry for employing people.
And whos standing to benifit from this ponzi scheme?
“..On Mar. 14, the company launched a new financial product tied to carbon emission reduction credits, a U.N.-approved program that allows companies to generate carbon credits through CO2 reductions in the developing world, which can be sold on the EU ETS. While only 135 million CERs have been traded so far, analysts reckon there’s significant growth potential: Between 2 billion and 3 billion such credits are expected to reach the market by 2012…”
Great, Oil for arms will look like chicken feed to the corrupt scum at the UN. The same UN that has created and promoted this “crisis” for a decade.
“..Heavily polluting industries, such as energy, cement, and metals production, must buy and sell credits under the EU ETS, but smaller companies often lack the resources to trade CO2 on their own..”
I believe Taxed to death is the term which may be looked for..
“..Market watchers expect these problems to iron themselves out as Europe’s carbon markets mature — especially after 2011, when the aviation sector joins the EU ETS. Other parts of the world also are taking a page out of the European playbook: Australia will launch its own cap-and-trade scheme in 2010, and analysts reckon a federally regulated market in the US could get approval soon after the November elections..”
We are so screwed…
BTW this is the first time Ive seen the US mentioned as a “sure thing” in joining this scam, surely the crackafats wouldnt be keeping quiet on their plans to introduce this new tax?? Just like KRudd has done here.
Or is it a case of “hope and change” then grit your teeth and grab your ankles?
Heres a link to the original article.