If Al Gore’s Chicago Climate Exchange Suffers Total Failure, Does the MSM Make a Sound?
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 — 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 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 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.
The CCX was the brainchild of Northwestern University business professor Richard Sandor, who used $1.1 million in grants from the Chicago-based left-wing Joyce Foundation to launch the CCX. For his efforts, Time named Sandor as one of its Heroes of the Planet in 2002 and one of its Heroes of the Environment in 2007.
The CCX seemed to have a lock on success. Not only was a young Barack Obama a board member of the Joyce Foundation that funded the fledgling CCX, but over the years it attracted such big name climate investors as Goldman Sachs and Al Gore’s Generation Investment Management.
But a funny thing happened on the way to the CCX’s highly anticipated looting of taxpayers and consumers — cap-and-trade imploded following its high water mark of the House passage of the Waxman-Markey bill. With ongoing economic recession, Climategate, and the tea party movement, what once seemed like a certainty became anything but.
CCX’s panicked original investors bailed out this spring, unloading the dog and its across-the-pond cousin, the European Climate Exchange (ECX), for $600 million to the New York Stock Exchange-traded Intercontinental Exchange (ICE) — an electronic futures and derivatives platform based in Atlanta and London. (Luckier than the CCX, the ECX continues to exist thanks to the mandatory carbon caps of the Kyoto Protocol.)
The ECX may soon follow the CCX into oblivion, however — the Kyoto Protocol expires in 2012. No new international treaty is anywhere in sight.
While we don’t know how well Al Gore and Goldman Sachs fared on their investments in the CCX, we do know that there’s no reason to cry for Sandor. He received $98.5 million for his 16.5% stake in CCX when it was sold. Not bad for a failure that somebody else financed.
Incredibly (but not surprisingly), although thousands of news articles have been published about CCX by the lamestream media over the years, a Nexis search conducted a week after CCX’s announcement revealed no news articles published about its demise.
Loved the article and want to let the author know that I loved Green Hell. Everybody should read it!
That is exactly where the danger lies. The whole “environmentalism” canard has acquired a patina of sacredness, such that no one can come out boldly and say he’s against it. To do so would be to risk public crucifixion. Even sound conservatives have to step very carefully in that minefield.
What a pity more people haven’t read Peter Huber’s Hard Green, or any of Dixy Ray Lee’s books on environmental stewardship. Well, perhaps it’s not too late.
Even though cap and trade may officially be dead in Congress, let’s see if Obama tries to bypass Congress and enact it through executive order via the EPA. If he tries something like that, I think all hell will break loose around the country. Don’t try it, Mr. President. You may not care about getting re-elected in 2012, but your Deomcratic buddies in Congress will refuse to be thrown under the bus yet again if you try it. The 2010 elections proved how fatal it was to follow Obama’s agenda. I don’t think the few remaining Democrats in Congress will allow that to happen again, especially Senate Democrats.
I hope you’re right, but Democrats are painfully slow learners.
Unfortunately, so are republicans.
It isn’t the democrats vs the republicans, it is the government vs the people.
Bingo!
You need to become more informed on how each systems operates. One of these systems deals with political lines. There are never any sides. Slight divisions, actors on stage, can easily sell their role to the audience. This role is only applicable, when they are in the spotlight. When they are not in the spotlight, they are good buddies and working hard together. Working hard together, not to benefit us but to benefit themselves. When you understand that “America” was a corporation long before the ‘famous’ Puritans came over from Britian, you’ll understand also that in order for it to exist in this land it needed to lay low for a while. It needed a certain group, a decent chunk of the founding fathers to help too. After all, we needed money after the ‘revolutionary war,’ so who or what did we really turn to? In 1851, after several generations let their guard down, the United States was put into formation. That is when America the “Corporation” took control of whatever this ‘country’ was. Documented. It is also when voting ceased to matter. This became the brand label and the foundation to everything you see happening around you was formed. Every war included. You could call this a conspiracy but unfortunately it’s a fact. All it takes is for you to be aware of history, to have some common sense and to observe with an open mind. You represent yourself, no one can represent you. Just as you cannot give your power away but you can trick yourself into believing it is possible, like how mass media tends to work on the lot of you daily. I mean if you couldn’t speak anymore, couldn’t write anymore, couldn’t move anymore, then maybe then your power would be taken away to make a difference or actual change. How long does it take you to realize that nothing will change until you make it happen in a type of small group civic community engagement coordination effort? Haven’t you learned that the bigger a movement gets, it becomes inevitable that it will be hjacked like the Environment Sector and the Tea Party movements? You elect a CEO, that’s why the CEO surrounds himself not with ‘people’ like you but with ‘people’ like him. No one gets into ‘office’ that isn’t related to each other past a certain level. Never trust a man who wears a suit and a tie, big business will always sacrifice lives to make a quick profit or two. We need to find the shadow government, those who command the one’s who are in the spotlight, “who hand them their scripts to read such as the teleprompters.” We also need to work on ourselves, so this type of behavior ceases to continue at the individual level. If not, then we’re just going to shoot ourselves in the foot every single time. I hate being dragged into other people’s messes, so please stop doing that. Stop playing this game, with politics being the ‘greatest game of them all.’ Not like they didn’t name it that, without good reason. Do your part finally, thank you and have a nice day.
Well Put.
paragraphs wud help
Stay vigilant, indeed – Valerie Jarrett, served as director of the Joyce Foundation.
Thanks for reporting this good news. Those of us who have been following climate science news since the war on CO2 was exposed as a giant fraud about a year ago rejoice in one more indication that people are waking up to reality. Now, if Congress will de-fund the EPA’s efforts, maybe sanity will make a comeback.
This is the business version of ACORN. It has now gone underground although don’t bet against the likelihood that big “consulting” fees will continue to be paid by the new entity to the progressives pushing this. This is really just an admission that legislation is not how this is to be accomplished and a confirmation that defunding the EPA has to be a priority until legislation removing its authority can be passed through the Senate and sustain a veto. These charlatans plan to enrich themselves by Administrative fiat and not in areas where the public can scrutinize their conduct.
‘There is a fool born every minute.’
‘Never give a sucker an even break.’
‘They (The Missionaries)
came to Hawaii to Do Good…
and they did right well.’
But seriously, folks, Cap-and-Tax would
have been a stake through the heart of
the energy industry, which in turn is the
foundation of the manufacturing sector;
When the price of power goes up, so does
the price of everything else.
CCX was a monument to mass delusion, like a unicorn zoo or a leprechaun congress. It is funny if it weren’t so pathetic.
OMG!!!!! How’s Al doing? Is he okay? How will this impact his selfless work in saving the planet? More importantly, how will this impact his new digs in California, and his financial support of hotel masseuses willing to release his “second chakra”???? Will a loss of finances result in less settlement monies to Tipper? Will she have to settle on a crappier drum set to replace the ones she’s no doubt beat the bejeesus out of during her last few years of wedded bliss to ManBearPig?
A sad coda to the public life of such a sparkling personality and inspirational speaker.
I’ll bet Frank Zappa has a smile on his face at the thought of Tipper Gore going through a rough patch….
I believe it might be a reasonable thing for the House to conduct an investigation into this pyramid scheme. Al Gore! Front and center.
Now the bad news: Whether he bailed early or “got his share” in the $600 million sale of CCX, Al Gore made off with a wad of cash.
As I recall, the end of Air America didn’t reach the front page either.
We can only hope that between what Tipper gets and the future brings that good old Al will face some real financial setbacks. After the volume of lies and the trouble he has caused I can only hope that as he has sowed so shall he reap.
We can only hope that the criminals who have been pushing this global scam are brought before a court…. and that they pay dearly for attempting possibly the biggest ponzi scheme known to the human race. I think Barry Obama should be the first to stand trial.
Don’t forget Mr. Human Goat himself Pachuri….
I got tossed from the forums in the Seattle Post Intelligencer about a year ago for daring to draw a parallel between the ‘evils’ of capitalism (words from their resident loon Joel Connelly) and the ‘hero of the environment’ Al Gore (also according to Connelly). My argument was simple – both like making money – and to that end I provided links to Gore’s GIM company – along with a few unflattering news stories about the ‘real’ motives of The Goracle, a link to his wildly high energy bills in Tennessee and the joke that ‘offsets’ really are.
Well the loons were aghast and crazy with all kinds of personal attacks, but none could effectively explain away the fact that The Goracle is/was GETTING FAT RICH saving the planet. I think there were two or three that explained it by way of saying it was simply the ‘residual effects’ of doing something so wonderful as saving the future for all mankind and Gore just could not ‘help’ but make money with such a noble cause as his.
Al – you’ve got a heavy burden to tote should you fail!
Oh the humanity!
I don’t think Dudley Dowright ever got rich – did he?
Just as a FYI – the Seattle Post Intelligencer is defunct (Yeah!) as a newspaper (Hurst) and now lives on only in cyberspace where the loons collect to collectively suck their thumbs and to reassure themselves of their sanity.
And they never did like my take on the shortened version of the Seattle P.I.’s name – Seattle Personal Insult!
Warning – should you click on the Seattle PI link above you will be transported to a parallel universe where the normal laws of logic and thinking do not apply. Have fun!
There’s a great little YouTube video that turns “I’m A Believer” on its head: http://www.youtube.com/watch?v=Vx-t9k7epIk&feature=player_embedded#
Al Gore (or at least a reasonable facscimile) appears in the video.
This is really great news. I hope Gore loses a bundle of money and is forced to sell some of those homes he has been buying lately and hope he has to downgrade from his mansion in Belle Meade, Tennessee (a suburb of Nashville)!
Another hater of capitalism. You’re such a fraud.
There’s a difference between “capitalism” and out right fruad. Also Al’s schemes collapse without the heavy handed enforcement by governments. That’s not capitalism either.
Since Al is on the inside of the scam. He undoubtedly got paid big time when the CCX was sold to ICE. Only the little guys take a bath in Algore’s world.
The beginning of the end of the AGW political scam was the release of the climategate emails. For the first time the data used for the IPCC reports was scrutinized by outside scientists. For political purposes the environmental socialists had to make the industrial gas CO2 as the main culprit in the hoax. The big problem was CO2 is only a trace gas in the atmosphere
The environmental socialists for political reasons had to make the industrial gas CO2 as the main culprit in the AGW scam. The only problem was that CO2 is a trace gas in the atmosphere and did’nt quite fit into the warming scenario that they hoped for. So they “cooked the books” to make it appear as the main cause. HELLO CLIMATEGATE! Since the release of emails and scrutiny of the data by outside scientists the AGW scam has collasped faster than al gore can side step a debate. The political tide has now turned and people are waking up to the fact that they have been taken for a ride by the socilaist frauds that inhabit the MSM, academia and government whose main intentions were to pick the pocket of the american people, not to save the planet. So if you
still see the propaganda articles printed in support of the hoax. With headlines like “Field mouse moves 200 yards higher up mountain to avoid global warming” I hope you take appropriate actions and call the editor and verbally blast them.
Huh!? So, the Cathedral of Climate Change is closing its doors and the faithful are no longer tithing? The hell you say… Where are the ministers, where are the elders, the deacons and the members going to come and worship. Where shall they place their offerings to Mother Gaia now? I wonder if they will have their Christmas program this year before they close their doors…. oh wait!…
They’ll be left to retreat to the forest, form a drum circle, and wail and gnash their teeth before the trees.
$200 million PER DAY for a trip to India? This is the worst violation yet of Obama narcicism. I heard he as 34 of our warships babysitting him and michele – the Anointed Two. Why ins’t the Lame Stream Media covering this? If it weren’t for Rush and Sean and Drudge we would never have heard about this. Thank god somebody is paying attention to the truth.
I wonder how you get a list of all the people that got paid off when this thing was sold for 600 mil? Who were the shareholders and what did they pay to get in on it? That’s were you’ll find Gore (or his foundation, same thing) and the other progressives that seem pretty intent on making money on this “planetary emergency” (think that’s a Goreism)
Watch Meeting 5 of the National Commission on the BP Deepwater Horizon Oil Spill this coming Tuesday & Wednesday http://www.oilspillcommission.gov/page/meeting-5-agenda which will detail the mechanics of the blowout. It will drive the final nail into the annular flow hypothesis that formed the basis of both the Waxman & Markey committee kangaroo courts held while the well was spewing oil. BP managed to kill the well significantly ahead of schedule by treating the blowout using a form of “top kill” called the “static kill” rather than using the government promoted relief wells.
The humiliation of those two congressmen ought to be boldly proclaimed, thereby undermining their credibility with the electorate, and should be the coup-de-grace to cap and trade.
when Cap and Trade is ressurected look to West Virginias newest senator to toe the liberal line.
darn, now i wont be able to sell all my carbon credits, and use that cash to buy the things i need to go off the grid.
while that complicates matters, im still going off the grid, anyway.
co2 a bad thing? plants seem to like it, i thought this whole green thing
was to make things greener?
ccx seems to be another some kind of bubble market, and here it popped prematurely. rather than call it a ‘ponzi scheme’, call it instead a ‘sandor scheme.’
FLASH…BREAKING NEWS…FROM God;Global Warming Is The Greatest Redistribution of Wealth Ponzi Hoax Ever Perpretated,Against Humanity,Especially The American People,America Prosperity,American Energy,Amercan Independence,American Life,American Rights,And American Liberty.Intentionally Manfactured By Anti-Capitalist Free Enterprise Economic Terrorist.From With-In.In Collaboration With Totalitarian Nations,At The United Nations Of Dictators,And Totalitarians.In Order to force The American People To Be Subservient To Their “NEW WORLD ORDER”Where No One Can Buy,Or Sale,With-out Taking A Mark Of Loyalty.”666″God Did Say That He Does Have Little Hope Left For The Survival Of Mankinds,Ability to Survive On Their Own Though.As When You Would Rather Believe In Prostitute,Proven Liars,And Thieves,False Prophet,False Doctrine,Science,Politicians,Educators,And Media.That You Are Decendendents Of Pondscum,And Apes,With No Hope.Than,Created for A Greater,And Higher Purpose.ByThecreatorOf the,Weather.Hesaid It Is your Hatred,Shame,And Dis-Respect Of Yours,And Others Temples,ThatI Entrusted unto you.Of Human Life,Rights,And Liberties,That God Endowed unto all of Humanity,To Obtain. that believe,And Follow Him,And Keep His Commandments.Not Earth Worshippers,For God will not Tolerate False Gods,False Idols,Nor those who put,God,And Humanity,Beneath Lucifer’And His Temporary Rein OverEarth And His Earth Worshipping Humanist.Who Like their Chosen God,Lucifer.Will Have Their Global Warming;But in the Eternal Lake Of Fire.But For God’s Chosen;Eternal Life In The Kingdom of God.Where God’s Will Be Done On Earth,As It Is In Heaven.AMEN;Jimmy Joe/”The Liarfryer”
George “Spooky Dude” Soros should be the first to be brought to trial, then Obama and Gore!!!
If Al Gore’s Chicago Climate Exchange Suffers Total Failure, Does the MSM Make a Sound?
Yea, the sound Gollum made when his “good” side won over the real side of his personality. But then immediately began the plot to subvert that effort.
Kyoto Dead.
Could the news be any better?
We’re sick of the UN telling us what to do so their hucksters can rip us off.
I wonder: When did Al cash in his climate credit stock? How much did he make? And what about other “green” stockholders?
That’s a much bigger story than whether the lamestream media covered the closure of CCX.
Looks like Reuters is finally feeling the pressure, submits article:
http://www.reuters.com/article/idUS83245215220101108?pageNumber=2
I think Cap & Trade will be replaced by the new water shortage. I understand that it has become popular among environmentalists to stop taking showers to save water. Someone needs to explain to them that the drain in the shower actually returns the water from where it came and that using (actually borrowing) less water does not mean less dirt. The same amount of dirt and waste will still be created and the water that goes down the drain does not convert itself to carbon !!!
Its sad to see these poor folk walking around in T_Shirts that expound a water shortage. If someone sees one in the rain, pls snap a photo and post a message on my blog.
Well, the brainwashing goes deep, you know? Have you seen the book ” Becoming a Master Student”? It’s aimed at community college kids- usually it’s the textbook in a required “learning skills” class- and at marginal students at mainstream colleges. In it, there are interviews with people- including people explaining a carbon-trading market, and also, activists jetting in from some global protest, aspiring to the Ivy League so that businessmen would take them seriously.
“Once again, however, with the tide leaving on carbon regulation and increased concerns about fraudulent carbon offsets, the future of that market is quite uncertain.”
Both (diminishing government support, increasing fraud) are signs of the late stages of a mania bubble that is in the process of popping.
The incidence of (actual and suspected) mortgage fraud (“predatory lending”) surged in the latter years of the housing bubble. Just the same, concerns of carbon offsets being fraudulent and lack of government support are signs that the carbon bubble is popping.
I wouldn’t be surprised if there was fraud all the way up and down the ‘carbon credits’ scam.
Here’s something I found yesterday that’s related to the ‘carbon sequestration’ part of the scam. This is where CO2 is pumped deep into the ground, thus ‘removing’ it from the environment. Presumably companies receive carbon credits for doing this, and can trade them for bucks.
It is a video about an industrial accident, in which a man died. It is an industrial safety video, however some interesting details about oil drilling company practices with CO2 are mentioned.
http://www.youtube.com/watch?v=zkWeZ1YPI88
Without wishing to ignore that tragedy, I suggest you pay attention to what he was doing at the time he was killed. Venting CO2 from a tanker to the air.
The accident investigator omits to mention two very important possibilities.
#1. He states that CO2 was being pumped into the ground to improve oil recovery – omitting any mention of carbon credits. But an oil company pumping industrial quantities of CO2 (look at the rows of tankers!) into the ground _would_ be eligible for valuable carbon credits. Zero chance they weren’t claiming them.
#2. He states a tanker was being ‘emptied of remaining CO2′. Omitting to mention that it might have been profitable for the company to simply empty most (or all) of the CO2 tankers back to the atmosphere, rather than incur the expense of actually pumping it at high pressure into the ground. The fact that ‘improvised’ means were used to empty tankers sitting within a row of tankers, suggests that maybe all the tankers in the row were being emptied? Maybe from full, rather than nearly empty?
Wouldn’t be the first time a man died because he was ordered at his workplace to do something ‘on the quiet’.
How much are the carbon credits for a semi-tanker load of liquid CO2 supposedly ‘sequestered’ worth, anyway?
Can we say someone who dies of an industrial accident involving carbon credits, has been ‘Al Gored to death’?
Sorry, correction. That should read ‘to improve natural gas recovery’, not ‘to improve oil recovery’.
It’s sure generates a good feeling to see Crap And Tax go down the drain!