Thursday, November 17, 2011

Goodbye To Chicago Climate Exchange (CCX)

Well, well, well.... it looks like Al Gore's carbon credit trading baby has tanked.

In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading – the only purpose for which it was founded – this year.

Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub of the mandatory carbon trading established by a cap-and-trade law, like the Waxman-Markey scheme passed by the House in June 2009. ...
The CCX was the brainchild of Northwestern University business professor Richard Sandor, who used $1.1 million in grants from the Chicago-based left-wing Joyce Foundation to launch the CCX. ...

it attracted such big name climate investors as Goldman Sachs and Al Gore’s Generation Investment Management.
The whole Cap and Trade scheme fell apart especially after "Climategate" exposed some fraudulent Climate studies which were meant to push an agenda that would make certain people and their companies boatloads of cash.

Interestingly enough:
CCX’s panicked original investors bailed out this spring, unloading the dog and its across-the-pond cousin, the European Climate Exchange (ECX), for $600 million to the New York Stock Exchange-traded Intercontinental Exchange (ICE) – an electronic futures and derivatives platform based in Atlanta and London. (Luckier than the CCX, the ECX continues to exist thanks to the mandatory carbon caps of the Kyoto Protocol.)

The ECX may soon follow the CCX into oblivion, however – the Kyoto Protocol expires in 2012. No new international treaty is anywhere in sight.
It's good to see at least one environmental rip-off scheme die a fitting death.

Somehow though - it might be "zombie-fied" and resurrected under some other hideous "green initiative" - probably under the auspices of Agenda 21.
I bet they will rebrand carbon emission regulation into some kind of carbon tax - after all - Al Gore and his political eco-Nazis have to make a buck somehow. Right?


Libertarian Advocate said...

Hi Judy:

The NRO article you point to is a year old. Anyway, I wonder how the sex-crazed poodle is gonna pay the taxes on that swanky manse out in Montecito California he bought back in May of 2010. After all, as a serial grad school dropout, with few real-world skills, its not like he has a whole lot of revenue options open to him after his CCX scam tanked... Perhaps Barry has bailed him out along with Bobby Kennedy Jr.

Judy Aron said...

Thanks - I know that the article from NRO is a year old - not much of this was in the news though.. and I just thought I'd mention this anyway.