Thursday, August 13, 2009

John Kerry confirms he is an idiot. (again)

Cantwell is no prize either.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. would be barred from a planned U.S. carbon- emissions market or face trading restrictions under proposals by Democratic senators crafting climate change legislation.

Lawmakers seeking restrictions on carbon markets say speculators contributed to a rise in energy prices last year, when crude oil futures reached a record $147.27 a barrel.

‘No Derivatives, Swaps’

“There will be no derivatives, there will be no credit swaps,” said Senator John Kerry, a Massachusetts Democrat, in a July 29 speech at the National Press Club in Washington. “There will be a tighter regulatory control on this so that it will be impossible to play any of those kinds of games.”read it all here

So John these companies who need carbon credits, who do they buy them from? What is the sound of one hand bidding? My guess is the real plan is for free market trade and price discovery of carbon credit values to fail. Then they will have to be awarded by the politicians who would then have a rich new supply of supplicants and political donors.


Lsquared said...

Isn't Al Gore a player in the carbon credit charade? As I recall, he is heavily invested, literally, in the carbon credit enterprise.

BBL Jr said...

Yes the Goracle is a big player in some of the businesses. He seems to be laying kind of low since the public became aware his personal carbon foot print was about the same aw Wyoming.
He is probably out there undermining Obama so the party will come back to him i the future.