According to Al Gore, the creation of a carbon offset market is the magical solution to all our global warming problems. Create an American market similar to Europe’s and global warming will be halted in its tracks. And if a billion or two extra dollars should happen to end up in the Goracle’s pocket, well, that’s something that just can’t be avoided.
Just one thing: The European market doesn’t work any better than the crystal ball Gore used to predict global warming.
Reuters has the details:
Carbon offsets neared all-time lows Friday, confirming their status as the world’s worst performing commodity, as slumping demand meets rising supply of the U.N. instrument traded under the Kyoto Protocol.
Rising supply amid slumping demand? This sounds like the United States dollar under Geithner, Bernanke and Obama.
Carbon offsets have fared uniquely badly because a U.N. climate panel continues to print new offsets, regardless of a widening glut in emissions permits in the main demand market, the European Union’s carbon market.
Put the printing presses in high gear. More dollars. More carbon offsets. More opinions from Al Gore. More of everything no one wants.
Source: Reuters
This post was last modified on January 26, 2021
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This could become big and Barack Obama and his henchmen will "bite the bullet" on this one also, along with Fast & Furious and Op. Gun Runner:
http://www.elpasotimes.com/ci_18608410
According to Al Gore, the creation of a carbon offset market is the magical solution to all our global warming problems.
He doesn't give a crap about AGW, he just wants to prove that he can make more money than his daddy did. Selling air wishes is how he goes about it.
"Carbon offsets have fared uniquely badly because a U.N. climate panel continues to print new offsets"
So, carbon offsets in the EU work just like dollars here?
It's been a while back but I remember reading an article about wierd Al being the one of the leaders of the new carbon offset trading exchange to be established via a Chicago banking institution. Several prominent liberal political names were (or are) to be on the list of of directors & major stockholders. Al was planning to have a bigger bank account than Buffett & Gates combined. The pollution he's most worried about is from his pile of cash that's going up in smoke.
Old school religious "indulgences", anyone?
Environmentalism is a religion and the Catholic Church was wrong about indulgences, at least they changed their ways by and by, I doubt Al Gore will admit that his philosophies just don't work.
The textbook example of how Progressive economics works in the real world.