Sunday, April 8, 2012

Florida Gov. Rick Scott repeals cap and trade law

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Law passed under former Gov. Christ but never implemented.

4/7/12, "Scott signs Florida cape and trade law repeal," AP via GoErie

"Gov. Rick Scott has signed a bill repealing a cap and trade law designed to control power plant emissions in Florida.

Scott signed the bill (HB 4001) on Friday.

The law was never implemented since the Legislature passed it in 2008 at the urging of then-Gov. Charlie Crist.

It was intended as a market-based approach to controlling greenhouse gas emissions that are contributing to global warming.

The concept, though, has fallen out of favor among Republicans who control the Florida Legislature. They contend it would kill jobs and have questioned scientific evidence linking such emissions to climate change." via Tom Nelson

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CO2 trading provided "windfall profits" to participants paid for by "electricity customers."

11/23/11, "Europe's $287billion carbon 'waste': UBS report," The Australian, by Sid Maher

"SWISS banking giant UBS says the European Union's emissions trading scheme has cost the continent's consumers $287 billion for "almost zero impact" on cutting carbon emissions, and has warned that the EU's carbon pricing market is on the verge of a crash next year.

In a damning report to clients, UBS Investment Research said that had the €210bn the European ETS had cost consumers been used in a targeted approach to replace the EU's dirtiest power plants, emissions could have been reduced by 43 per cent "instead of almost zero impact on the back of emissions trading".

Describing the EU's ETS as having "limited benefits and embarrassing consequences"..."

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12/4/09, "Carbon Capitalists Warming to Climate Market Using Derivatives," Bloomberg

"
Estimates of the potential size of the U.S cap-and-trade market range from $300 billion to $2 trillion....

Even George Soros, the billionaire hedge fund operator, says money managers would find
  • ways to manipulate cap-and-trade markets.
Soros, 79, remarked at a London School of Economics seminar in July. “That’s why financial types like me like it -- because there are financial opportunities.”" ...

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4/16/09, "Wall Street realized there was money to be made by going green," Robert Redford at Soros group Ceres conference

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7/16/10, "Carbon Trading Used as Money-Laundering Front," Jakarta Globe

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2/1/11, ""Broken" EU spot CO2 market will struggle to revive," Reuters, Chestney

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12/2009, "Tax fraud loses EU carbon trading billions: Europol," EUBusiness.com, The Hague

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11/29/09, "Europeon Climate Exchange Chief Patrick Birley defends the Carbon Trading System," UK Telegraph by Rowena Mason

""Carbon-related products are probably the most profitable part of trading for any

  • of the investment banks right now,
  • because the margins are so good," Mr. Birley admits....

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4/26/10, "Global warming: La CO2a Nostra," Examiner, Thomas Fuller

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10/8/10, "Murder on the Carbon Express: Interpol Takes on Emissions Fraud," Mother Jones, by Mark Schapiro
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12/1/10,
"EU Carbon permits missing from registry due to (computer) virus," Reuters, Nina Chestney

"One million European carbon permits (valued at $19.54 million US) have gone missing from the Romanian subsidiary of cement company Holcim's (HOLN.VX) emissions registry account due to a computer virus,
  • the EU Commission said on Wednesday."...

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