Michelle Chan, of Friends of the Earth, gives perspective on carbon trading, and need for strong regulation of carbon markets. For me, there's a huge concern for expansive new derivatives market; as evidenced in Wallstreet.
This posted at: Hotair
Video: Ready for a sub-prime carbon market?
The US left (largely absent cause and effect) eyes recovery through economic green shoots; but we have yet to see executive powers being used to regulate what could actually be triggered by the commodity traders…
Ed Morrissey also points out that this is "the exact same mechanism Congress mandated on subprime mortgages in the late 1990s in order to incentivize lenders to make loans to customers who normally wouldn’t have qualified." Read: more.
Who really profits from the proposed legislation?
Least: the environment… Most: the Carbon Offset Broker… With the costs passed on the consumer... Speculators can eventually destroy the ability for a nation to remain employed... There can be no moderation as the the "polluter" of 'undeveloped' or exempt nations, will still emit just as much as they did prior to the Cap & Trade legislation… And more...
