"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 ten 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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Wednesday, 4 April 2012
Why mitigating CO2 emissions is cost-ineffective
"So, even if the cap-and-trade scheme is every bit as successful as its promoters would wish, only 0.34% of global emissions – one-third of one per cent – will be abated. There is nothing in the least controversial about this figure, except that no one seems to have pointed it out before. The legislators’ faces were a picture when I told them. .....To put all of this in context, the cost of abating the one-third of a Fahrenheit degree of warming that the IPCC imagines will happen over the decade of the scheme, if everyone worldwide were crazy enough to adopt measures as laughably cost-ineffective as these, would be $25,000 per head of the world population, or one-third of global GDP over a decade. This would be 26 times the cost enduring the welfare loss that might arise from the global warming we fail to prevent if we do nothing. .....So far, there has been no global warming at all since 2001. In fact, on the latest data from the Hadley Centre and the Climatic Research Unit at the University of East Anglia, there has been no statistically-significant warming for fully 15 years."