Intercontinental Exchange has agreed to purchase the parent company of the Chicago Climate Exchange, the preeminent market for trading carbon credits. This is a market that exists solely to capitalize on possible federal legislation that would mandate reduced greenhouse gas emissions or the purchase of “pollution credits.”
Politicians created this market out of thin air by fiat, and not surprisingly, cronies of these politicians will be the beneficiaries. These climate change profiteers include Maurice Strong.
We know of the usual suspects who have invested, either directly or indirectly, in the Climate Exchange: Goldman Sachs, Al Gore, and Chicago’s Joyce Foundation (which made an investment when Barack Obama sat on its board), among others. Franklin Raines, while he headed Fannie Mae, purchased and patented the mechanism used for trading under the cap-and-trade system — an investment that could fare far better than the trillion dollars worth of bad mortgages he saddled Fannie Mae with.
But Maurice Strong … who is he?
Strong is Canada’s George Soros — a man of vast wealth who has parlayed his fortune into influence. Strong made his money in the Canadian energy markets and decades ago began a second career hobnobbing with diplomats and environmentalists.
Strong became a wheeler and dealer at the UN. He was close to several secretary generals, including, most recently, Kofi Annan. Strong found himself embroiled in the oil-for-food scandal when a check with his name on it, drawn on a Jordanian bank, was delivered to him by infamous South Korean businessman Tongsun Park (convicted of conspiring to bribe UN officials to rig the oil-for-food program for Saddam Hussein).
Strong made for the exits when Annan lost his post. But before his departure (Strong now resides in Beijing), he had left his mark at the UN by encouraging that body to promote the view that climate change is a crisis requiring governmental intervention. Strong, like Soros, has leveraged his wealth and connections to influence governmental policies around the world.
Strong was appointed secretary general of the UN Conference on Environment and Development — better known as the Earth Summit. But that was, bad pun intended, just the tip of the iceberg. He rapidly became a key player in a raft of groups that have perpetrated the climate change fraud. He helped create a byzantine structure for Ted Turner’s billion dollar gift to the UN, which Turner has been dishing out periodically from his UN Foundation (little known, or appreciated, is that Turner also funds purportedly independent environmental groups whose agendas benefit his own privately owned investments).
Strong is reportedly close to Al Gore, who may become the world’s first “green” billionaire. Strong has been called the godfather of the environmental movement — if so, Al Gore must be his godson and unworthy heir (Strong is 81).
While Strong was at the UN, the Intergovernmental Panel on Climate Change (IPCC) was formed. Reports issued under their imprimatur have been used to justify all types of political and industrial changes — all fruits of a poisonous tree. Those reports have only recently been publicized as being of questionable validity, but the damage has been done. And like most frauds, this has benefited the perpetrators at the expense of the people.
Joe Lieberman and John Kerry have introduced the latest version of a cap-and-trade bill. It will impose strict limits on carbon emissions and establish a complex regulatory scheme. If a business exceeds its limits, it will have to purchase additional credits from an exchange where the credits will be traded like a commodity.
It is telling that the Climate Exchange is headquartered in Chicago, one of the world centers of commodity trading.
Therefore, I found it quite intriguing that Maurice Strong is listed a member of the Climate Exchange board and will presumably benefit from the sale to the Intercontinental Exchange.
Among Strong’s peregrinations around international bodies has been a stint at the World Bank, where he was a senior adviser to then-president James Wolfensohn. While there, one of his colleagues was Mark Malloch Brown — a Brit with his own intriguing background. Brown was Annan’s right-hand man, but had to look for a new line of work after the oil-for food scandal hit too close to home.