"Carbon (Dioxide) trading is now the fastest growing commodities market on earth.....And here’s the great thing about it. Unlike traditional commodities markets, which will eventually involve delivery to someone in physical form, the carbon (dioxide) market is based on lack of delivery of an invisible substance to no-one. Since the market revolves around creating carbon (dioxide) credits, or finding carbon (dioxide) reduction projects whose benefits can then be sold to those with a surplus of emissions, it is entirely intangible." (Telegraph)
This blog has been tracking the 'Global Warming Scam' for over five years now. There are a very large number of articles being published in blogs and more in the MSM who are waking up to the fact the public refuse to be conned any more and are objecting to the 'green madness' of governments and the artificially high price of energy. This blog will now be concentrating on the major stories as we move to the pragmatic view of 'not if, but when' and how the situation is managed back to reality. To quote Professor Lindzen, "a lot of people are going to look pretty silly"
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Saturday, 12 November 2011
Renewable Energy: Bubble, Scam or Both?
"Crony Capitalism, Green Energy Division: The lead story in today’s New York Times is a devastating look at solar and wind power subsidies. Too bad it appears on a Saturday when fewer people will read it (which may not be a coincidence). The print hed and sub-hed tell it better than the online version: “Rich Subsidies Powering Solar and Wind Projects: Big Rise in Government Aid—Companies Are Virtually Assured of Profits.” It’s worth reading the whole thing to soak in the outrageousness of the whole scene, but this graph gives a worthy summary:
The government support — which includes loan guarantees, cash grants and contracts that require electric customers to pay higher rates — largely eliminated the risk to the private investors and almost guaranteed them large profits for years to come. The beneficiaries include financial firms like Goldman Sachs and Morgan Stanley, conglomerates like General Electric, utilities like Exelon and NRG — even Google. "