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This is surprising but unfortunately no companies in the US, this coupled with the G7's agreement to reduce carbon dioxide is a step in the right direction although very late.
Firstly many of them like BP and Shell are heavily involved with renewable energy. Secondly many of them like BP and Shell are involved with the natural gas industry which is the predominant competitor against coal. Why should they care about a tax that the consumer is going to have to pay if it knocks off their competitor?
Well I would have to wonder why Exxon wouldn't support the tax as that would force many utility companies to use NG rather than coal.
Perhaps they are not as short sighted as these other companies and realize they are next on the hit list. A few years back the natural gas industry was funneling 10's of millions of dollars to the Sierra Club for their Beyond Coal campaign.... idiots.
I'm curious, when we create the carbon taxes to drive up the price of energy to that of clean expensive energy, do you plan to just let poor people pay a greater percentage of their income to survive or do you want the middle class to pay more for their (middle class people) plus the increases for the poor?
I just want to know if the plan is for my costs to really shoot up to pay for higher energy for me and the poor people I'll be subsidizing?
Read the link I provided then get back to me with relevant questions....Here is the link again... B.C.
Absolutely. But there's no reason why we can't kill two birds with one stone.
you mean one blade right?
one thing to ponder, if the oil companies get a carbon tax, lets say 3 cents per gallon, how much do you think gas prices are going to go up? hint, if you think its going to be 3 cents, you are living in lala land. you can figure just about double what the carbon tax would add. in other words, get a 3 cent per gallon carbon tax, and see a 9 cent increase at the pump.
This is surprising but unfortunately no companies in the US, this coupled with the G7's agreement to reduce carbon dioxide is a step in the right direction although very late.
If you think the housing bubble rocked the western world, hang on to your socks because the carbon-credit bubble should eclipse everything that has come before it.
It's early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs — its employees paid some $981,000 to his campaign — sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs. Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance.) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits — a booming trillion dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade.
CCX was cofounded by Richard Sandor, a former research professor at Kellogg when the school received the Joyce grant, along with former Goldman Sachs CEO Hank Paulson. The group got off to a blazing start, with hundreds of companies, including DuPont , Ford and Motorola , rushing in with agreements to buy and sell rights to emit CO2 above a legally binding quota. At its peak in May 2008, CCX was trading 10 million tons of carbon permits per month, causing the price of carbon offsets to rise from $1 per ton to a high of $7.40 in mid-2008. Time magazine called Sandor a “hero of the planet.” The actual operating system for CCX trading was provided by deposed former Fannie Mae head Franklin Raines, who had purchased the technology rights. Raines had become an expert in bundling bad subprime mortgages, and the technology was ideal for bundling worthless air credits.
Firstly many of them like BP and Shell are heavily involved with renewable energy. Secondly many of them like BP and Shell are involved with the natural gas industry which is the predominant competitor against coal. Why should they care about a tax that the consumer is going to have to pay if it knocks off their competitor?
Most of the companies are involved in renewable energy, Exxon holds the largest amount of Natural gas preserves. Regardless of their motives this is the direction. I see where Europe is attempting to move away from coal on a very small scale.
If you think the housing bubble rocked the western world, hang on to your socks because the carbon-credit bubble should eclipse everything that has come before it.
It's early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs — its employees paid some $981,000 to his campaign — sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs. Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance.) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits — a booming trillion dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade.
CCX was cofounded by Richard Sandor, a former research professor at Kellogg when the school received the Joyce grant, along with former Goldman Sachs CEO Hank Paulson. The group got off to a blazing start, with hundreds of companies, including DuPont , Ford and Motorola , rushing in with agreements to buy and sell rights to emit CO2 above a legally binding quota. At its peak in May 2008, CCX was trading 10 million tons of carbon permits per month, causing the price of carbon offsets to rise from $1 per ton to a high of $7.40 in mid-2008. Time magazine called Sandor a “hero of the planet.” The actual operating system for CCX trading was provided by deposed former Fannie Mae head Franklin Raines, who had purchased the technology rights. Raines had become an expert in bundling bad subprime mortgages, and the technology was ideal for bundling worthless air credits.
And so do you but you always conveniently leave that fact out.
The next question is how are industries like the cement industry that are carbon intensive doing?
We already know what the answer to that is too.
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