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07-29-2010, 02:51 PM #1
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Cap-and-Trade Cronyism
Cap-and-Trade Cronyism
by Brian Sussman
07/28/2010
Don't believe the headlines. Cap-and-trade is not dead. It's too important to fail. Why? Because well-heeled Democrat cronies are expecting an opportunity to score big bucks via the trading of carbon dioxide.
Cap-and-trade works like this: the federal government will examine every industry sector in America and determine how much carbon dioxide individual businesses and companies are allowed to emit annually—that’s the cap. If an entity surpasses its defined cap it must purchase carbon credits on a government-approved exchange. If that same business were to see its carbon emissions remain below the cap, it would gain credits. These credits could be saved or sold like a commodity on the exchange. Even trading carbon derivatives will be allowed. The official exchange will likely be an existing corporation known as the Chicago Climate Exchange (CCX).
With each transaction on the exchange, the government will receive a fee, brokers a commission, and savvy investors a score. According to the Congressional Budget Office, by 2015, the federal government alone will be hauling in $104 billion a year from cap-and-trade.
And who are these investors awaiting their carbon-based lucre? As I expose in my book, Climategate, foremost are Al Gore and his partners at the Generation Investment Management (GIM) hedge fund. These chums include former Goldman Sachs bigwigs like Philip Murphy, previously chair of the Democratic Finance Committee, and Hank Paulson, former Treasury secretary).
GIM specializes in “green investments,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-29-2010, 03:21 PM #2
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