News for 07/11/2009-Gore Says Cap & Trade Brings Global Governance
Al Gore: U.S. Climate Bill Will Help Bring About ‘Global Governance’ by Marc Morano at Climate Depot
Former Vice President Al Gore declared that the Congressional climate bill will help bring about “global governance.”
“I bring you good news from the U.S., “Gore said on July 7, 2009 in Oxford at the Smith School World Forum on Enterprise and the Environment, sponsored by UK Times. “Just two weeks ago, the House of Representatives passed the Waxman-Markey climate bill,” Gore said, noting it was “very much a step in the right direction.” President Obama has pushed for the passage of the bill in the Senate and attended a G8 summit this week where he agreed to attempt to keep the Earth’s temperatures from rising more than 2 degrees C. Gore touted the Congressional climate bill, claiming it “will dramatically increase the prospects for success” in combating what he sees as the “crisis” of man-made global warming. “But it is the awareness itself that will drive the change and one of the ways it will drive the change is through global governance and global agreements.”
Warning: Cap and Trade Bubble Ahead By Stephen Lendman at Global Research
On May 15, Cap & Trade was introduced in the House purportedly “To create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy.” In fact, it’s to let corporate polluters reap huge windfall profits by charging consumers more for energy and fuel as well as create a new bubble through carbon trading derivatives speculation. It does nothing to address environmental issues, yet on June 26 the House narrowly passed (229 – 212) and sent it to the Senate to be debated and voted on.
On July 1, Catherine Austin Fitts’ Solari.com blog headlined “The Next Really Scary Bubble” in stating:
“If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat” for what’s coming. “Carbon trading is gearing up to make the housing and derivative bubbles look like target practice.”
She quoted Rep. Geoff Davis calling it “a scam,” Rep. Devin Nunes saying it’s a “massive transfer of wealth” from the public to polluters and Wall Street, Rep. James Sensenbrenner stating “Carbon markets can and will be manipulated using the same Wall Street sleights of hand that brought us the financial crisis,” and Dennis Kuchinich citing “The best description to date (to) be found in Matt Taibbi’s….’The Great American Bubble Machine: From tech stocks to high gas prices, Goldman Sachs (GS) has engineered every major market manipulation since the Great Depression – and they are about to do it again.’
Editors Note: This brings to mind an email I recently recieved from a friend of mine with some Real World Experience in Cap and Trade. The email follows:
Thought I’d take some time and share some real world experience I had with Cap and Trade when I worked at DTE Energy. Keep in mind, this is from real experience which did not involve me performing research on the rules and regulations set forth by the government. At one time, within the last 10 years or so, the government once again studied the affects coal burning plants have on our atmosphere. As a result, the EPA regulations were tightened. The utilities have a very strong PAC (political action committee) and lobbyist so before any laws could be passed, negotiations took place regarding the new EPA regulations. In a nutshell the main concern was the amount of money it would require to upgrade the plants so the new emission standards could be met. Both the government and the utilities acknowledged this was not a sound business decision, so a graduated timeline was constructed to meet the new standards. Part of the graduated timeline included giving each electric utility credits (tokens) which essentially pardoned them for not meeting the new standards. The thought was the utility can use the credits during the graduated timeline so no penalty fees would be issued by the government. This sounded practical from both parties and the law was set. The kicker was, as I was told by several DTE employess AND the CEO, the number of tokens issued to a utility was based on the total amount of electricity generated at each plant, not just coal burning plants. In DTE’s case, they were issued credits for the nuclear power plant in Monroe which already met the new standards. So what really occurred over the subsequent years? The credits were sold to other utilities that needed them to avoid any fines. As stated in one management meeting, DTE made huge sums of money as a result of selling the tokens. So, a natural thought on my behalf was the money that was made would be used to upgrade the coal burning plants to meet the new standards. Logical but not good business sense. This money was thrown into multiple budgets and used at will. To make matters worse, at least for me, I just read in the paper about a month ago that DTE was approaching the Michigan Public Service Commission (MPSC) requesting a rate hike to consumers. The reason for the rate hike? DTE just spent millions of dollars upgrading only 1 stack at a coal burning plant in Monroe. The upgrade brought that stack up to 80% of the new emmission standards. When DTE approached the MPSC for the rate hike that will be applied now, they also informed the MPSC that next year they will complete the upgrades to the stack that was started this year and begin upgrading the second stack as well. And oh, by the way, that effort will require another rate hike next year. When DTE approached the MPSC for the rate hike that will be applied now, they also informed the MPSC that next year they will complete the upgrades to the stack that was started this year and begin upgrading the second stack as well. And oh, by the way, that effort will require another rate hike next year. So, does cap and trade work? Oh yeah, you can make a lot of money in that market then turn around and get rate hikes to pay for things.
Obama Missile Defense Plan Puts America at Risk by Baker Spring at Heritage Foundation
On February 2, 2009, Iran successfully launched a satellite into orbit using a rocket with technology similar to that used in long-range ballistic missiles. On May 20, 2009, Iran test-fired a 1,200-mile solid-fueled ballistic missile. North Korea attempted to launch a satellite on April 6, 2009, which, while failing to place the satellite in orbit, delivered its payload some 2,390 miles away in the Pacific Ocean. This was followed by a North Korean explosive nuclear weapons test on May 25, 2009. The ballistic-missile threat to the U.S. and its friends and allies is growing. Under these circumstances, common sense would dictate that the Obama Administration support full funding for the U.S. missile defense program.
What does the Administration do? On April 6, 2009, Secretary of Defense Robert Gates announced that the Obama Administration’s fiscal year (FY) 2010 broader defense budget would reduce the ballistic-missile budget by $1.4 billion. …