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It is an acknowledgment that both the case for climate trade and cap-and-tax legislation has also collapsed.
Launched as a "voluntary" method of trading "carbon credits," CCX rested on the hope that cap-and-tax legislation would make such trading mandatory — and profitable.
Yes, once the hoax was exposed, what kind of fool would continue to push the AGW, carbon tax scam?
In the last week, following the Nov. 2 Republican takeover of the House of Representatives, the slide became an avalanche. Investors in CCX, including Sandor and former Vice President Al Gore, sold the exchange to a company involved in commodities trading.
Sale records show that Sandor cleared more than $90 million for his 16 percent stake in the company.
Although the Chicago Climate Exchange (CCX) collapsed and shut down this week, Al Gore's Generation Investment Management LLP pocketed approximately $17.8 million on it's 2.98% share of the exchange when it was sold to the publically traded Intercontinental Exchange a mere 6 months ago. According to news reports, the brainchild of the exchange, academic Richard Sandor, founded the exchange with a foundation gift of $1.1 million, and pocketed $98.5 million for his 16.5% share of the CCX.
What the hell is wrong with the bolded sentence? How does one personally gain $100 million without ever having to put in a dime of their own money?
We should spread his wealth to the poor and illegal aliens.
Not a bad idea. Since socialism and "spreading the wealth" is starting to be openly accepted by some Liberals now, I want to see every rich liberal out there give a lot of their wealth away. After all, the biggest outcry against those evil rich people and the biggest supporters of "spreading the wealth" are on the left.
But then again, these are some of the same hypocrites that preach to us about the climate and such, yet fly in jets/private jets, live in mansions, drive huge SUV's, etc, etc, etc
How does one personally gain $100 million without ever having to put in a dime of their own money?
Only in the liberal AGW circles can this happen.
He had a 16% stake according to the article.
The Exchange "was modeled after a successful program that was launched in 1990 and helped control acid rain in the Midwest."
The Exchange does look opportunistic and maybe it was. But Obama is still pushing for a healthier existence for us anyway, cap n' trade or no cap n' trade.
"I would like to have a party and say we won, but the truth is were are still in the middle of it," Ebell said. "The problem is now that the administration changed strategy and is using existing laws and regulations, like the Clean Air Act, the Endangered Species Act and EPA regulations to implement its agenda. And unlike the cap and trade effort, it is much harder to get the public excited about rule changes."
"Obama will try a piecemeal approach," Loris said. "And they have a much better chance of becoming law than cap and trade ever did.”
What the hell is wrong with the bolded sentence? How does one personally gain $100 million without ever having to put in a dime of their own money?
Only in the liberal AGW circles can this happen.
Sadly, there are still a few that cling to the global warming hoax. Most of the former believers have crawled under rocks and deny ever believing in the hoax.
The same thing happened in the early 1970s. Those that were big promoters of the "New Ice Age" denied a few years later that they ever believed in such a thing.
Liberalism is a very strange, sad movement based on emotion and a complete disregard for the formal principles of science.
Yep, just proved what we already knew. Without a law forcing people to care about their pollution no one will bother paying anything for their pollution.
Yep, just proved what we already knew. Without a law forcing people to care about their pollution no one will bother paying anything for their pollution.
This would have done nothing to address pollution.
But Obama is still pushing for a healthier existence for us anyway, cap n' trade or no cap n' trade.
"I would like to have a party and say we won, but the truth is were are still in the middle of it," Ebell said. "The problem is now that the administration changed strategy and is using existing laws and regulations, like the Clean Air Act, the Endangered Species Act and EPA regulations to implement its agenda. And unlike the cap and trade effort, it is much harder to get the public excited about rule changes."
"Obama will try a piecemeal approach," Loris said. "And they have a much better chance of becoming law than cap and trade ever did.”
So much for that Democracy thingy. A government bureaucracy should never have complete control over the economy of this nation and in this case they won't. He can push all he wants, the ability of the EPA to regulate CO2 emissions will be removed via an amendment to the Clean air Act at some point in time and/or they won't get any funding for it in the mean time.
But Obama is still pushing for a healthier existence for us anyway, cap n' trade or no cap n' trade.
He should be pushing the illegal aliens out of this country first.
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A government bureaucracy should never have complete control over the economy of this nation and in this case they won't. He can push all he wants, the ability of the EPA to regulate CO2 emissions will be removed via an amendment to the Clean air Act at some point in time and/or they won't get any funding for it in the mean time.
