Tag Archives: carbon permits

TIME: Carbon Markets May Be Finished

24 Apr

White Flag: Last Lap

The banksters and their hordes of related societal parasites will fight on to the bitter end. Even so, the conclusion to this article in TIME magazine suggests the possibility of a white flag being rolled out by some of their influential media supporters:

…the hope that we may be able to reduce carbon emissions the same way we cut pollutants like sulfur dioxide and nitrous oxide—through a well-run cap-and-trade —seems to be dimming, a victim of its own complexity and a sluggish global economy. That might leave the door open for other policies, including a straight carbon tax, more support for renewables or increases R&D funding for carbon-free power. We could use all three, but carbon markets may be finished. If carbon trading can’t make it in Europe, it can’t make it anywhere.

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Carbon Permits Do Not Even Exist

2 Aug

Are the government’s carbon dioxide permits really just “bits of paper” for banksters and assorted financial parasites to shuffle around for fees and commissions?

Are the government’s carbon dioxide permits really just “bits of paper” for banksters to reference as the basis for creating new derivatives products for their long-sought carbon derivatives casino?

No.

As I have said all along, the carbon permits will not even be printed on physical paper.

They will be electronic bookkeeping entries.

Electronic digits.  In a computer.

It is yet another similarity with the completely farcical EU system, where over 3 million of these “permits” – which only exist as numbers in a “Registry” computer – were stolen between November 2010 and January 2011.

From our government’s exposure draft Clean Energy Bill 2011, Part 4, Division 2 (emphasis added):

Division 2—Issue of carbon units

94 Issue of carbon units

The Regulator may, on behalf of the Commonwealth, issue units, to be known as carbon units.

95 Identification number

A carbon unit is to be identified by a unique number, to be known as the identification number of the unit.

98 How carbon units are to be issued

(1) The Regulator is to issue a carbon unit to a person by making an entry for the unit in a Registry account kept by the person.

(2) An entry for a carbon unit in a Registry account is to consist of the identification number of the unit.

(3) The Regulator must not issue a carbon unit to a person unless the person has a Registry account.

Too easy.

Left click, left click on the mouse button.

Tap tap, tap tap on the keyboard.

Voila!

A new “carbon permit” has been created.

With a government-decreed purchasing power, of AUD $23 (in 2012).

In other words, exactly the same way that “money” is created under modern banking.

Wheeeeeeeeeeeeeeeeeee!

This bankster-designed evolution of the old medieval-era hoax called “alchemy” – formerly known as “turning lead into gold” –  is really easy.

You just have to be the one making the rules.

Which is why I say this.

Again.

There is only one way that common humanity can ever truly be free.

And stay free.

By taking unto ourselves – each and every one of us – those powers long held exclusively by a tiny minority of malevolent modern-day central banking “alchemists”, who create “money” out of thin air.

See my essay – The People’s NWO: Every Man His Own Central Banker.

“There are a thousand hacking at the branches of evil to one who is striking at the root” – Henry David Thoreau

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The “Biggest Polluters” Are? – Food For Thought If You Like To Eat, Drink, Or Bathe

18 Jul

Your humble blogger is still working on collating the National Greenhouse and Energy Reporting (NGER) department’s Register and latest Report.

There’s an awful lot of blanks to fill in, if we wish to learn how many lies the Government has told on its “500 biggest polluting companies” webpage.

Meanwhile, here’s the very latest publication by the Government concerning these alleged “500 biggest polluting” companies.

It was published on the very highly trafficked (not) Parliament House Library website on 14 July 2011 (emphasis added) –

Which 500 companies pay the tax?

Under the Government’s proposed Carbon Pricing Mechanism around 500 facilities will become liable…

So which facilities are included in that list of 500? The government has released a Factsheet detailing the types of facilities that will be covered and their distribution by State, but no information on which private and public bodies will actually be responsible for paying the tax.

The page goes on to bore you to tears with information about criterion and so forth.

More interesting are the constant stream of weasel words and disclaimers concerning just how many “biggest polluters” there actually are. And, why there are no substantial details provided about them (emphasis added) –

… the legislation includes caveats to protect the confidentiality of commercially sensitive information…

For these reasons, the NGER data is not an accurate reflection of a company’s greenhouse gas emissions…

Nonetheless, and although imperfect, the NGER data is the only public information that provides any indication as to which companies may be liable under the proposed Carbon Pricing Mechanism. Bearing in mind the limitations of the data as just detailed, below is the latest NGER list, ordered by decreasing scope 1 emissions.

Just so we’re clear then, the information from the NGER is “not an accurate reflection” and is “imperfect”, but nonetheless it is “the only public information that provides any indication” as to who exactly the alleged “500 biggest polluters” might be.

Moving on then … voila! … a nice, long, impressive looking table is displayed.

Showing NGER Registered corporation names.

And their last self-monitored and self-reported Scope 1, Scope 2, and Combined Scope 1 & 2 emissions totals.

But.

The list is (conveniently) not numbered. So, you simply don’t know how many companies are actually listed there, unless you’re prepared to count.

It sure looks impressive though. Which I guess is the whole point.

Well dear reader, I’ve recreated their list. And numbered it, for your viewing displeasure.

I’ve also taken the liberty of highlighting a few of these evil “biggest polluters”.

Perhaps those readers who

(a) like to eat,
(b) like to drink,
(c) like to bathe,
(d) like renewable energy,
(e) like recycling,
(f) like public transport,
(g) like health services and hospitals,
(h) like the CSIRO, and/or
(i) like attending university,

… will find food for thought in this list of “biggest polluters”.

Oh.

Just one more thing.

Before you read the list, first take a moment to consider carefully how the government has described the “500 biggest polluters” on its new cleanenergyfuture.gov.au website (emphasis added):

Most are companies operating large facilities (with over 25,000 tonnes annual CO2-e emissions) that directly emit greenhouse gases, such as power stations, mines and heavy industry.

Got that?

The government’s official claim is that “most“ of the “biggest polluters” are “direct” emitters, such as “power stations, mines, and heavy industry”.

Enjoy –

Registered Corporations

  1. Macquarie Generation
  2. Delta Electricity
  3. Great Energy Alliance Corporation Pty Ltd
  4. International Power (Australia) Holdings Pty Ltd
  5. C S Energy Limited
  6. TRUenergy Holdings Pty Ltd
  7. Eraring Energy
  8. BlueScope Steel Limited
  9. Loy Yang Holdings Pty Ltd
  10. OzGen Holdings Australia Pty Ltd
  11. Electricity Generation Corporation T/A Verve
  12. Woodside Petroleum Ltd.
  13. Tarong Energy Corporation Limited
  14. Alinta Energy Limited
  15. Rio Tinto Limited
  16. Stanwell Corporation Limited
  17. NRG Victoria 1 Pty Ltd
  18. Alcoa Australian Holdings Pty Ltd1
  19. AZSA Holdings Pty Limited
  20. BHP Billiton Limited
  21. Anglo American Australia Limited
  22. Qantas Airways Limited
  23. Santos Ltd
  24. Queensland Alumina Limited
  25. Adelaide Brighton Ltd
  26. Cement Australia Holdings Pty Ltd
  27. Xstrata Holdings Pty Ltd
  28. OneSteel Limited
  29. Exxonmobil Australia Pty Ltd
  30. Peabody Energy Australia Pty Ltd
  31. HRL Limited
  32. BM Alliance Coal Operations Pty Ltd
  33. Wesfarmers Limited
  34. Boral Limited2
  35. BHP Billiton Aluminium Australia Pty Ltd
  36. Orica Limited
  37. Transfield Worley Power Services Pty Ltd
  38. Alcan Gove Pty Limited
  39. Centennial Coal Company Limited
  40. Origin Energy Limited
  41. Caltex Australia Limited
  42. Virgin Blue Holdings Ltd
  43. Conoco Phillips Australia Gas Holdings Pty Ltd
  44. Burrup Fertilisers Pty Ltd
  45. BP Regional Australasia Holdings Pty Ltd
  46. Shell Australia Limited
  47. AGL Energy Limited1
  48. Queensland Nickel Pty Ltd
  49. Rio Doce Australia Pty Limited
  50. Transfield Services Limited
  51. Power and Water Corporation
  52. Energy Developments Limited
  53. Asciano Limited
  54. Incitec Pivot Limited1
  55. Pechiney Consolidated Australia Pty Limited
  56. BHP Billiton Energy Coal Australia Pty Ltd
  57. Apache Energy Limited
  58. Qenos Holdings Pty Ltd
  59. ERM Kwinana Holding Pty Ltd
  60. Gujarat NRE Coking Coal Limited
  61. Transpacific Industries Group Ltd
  62. Queensland Nitrates Pty Ltd
  63. QR Limited
  64. TransAlta Energy (Australia) Pty Ltd
  65. Leighton Holdings Limited
  66. Newcrest Mining Limited
  67. Iluka Resources Limited
  68. CSR Limited
  69. Envestra Limited
  70. Minara Resources Limited
  71. SPI (Australia) Assets Pty Ltd
  72. Tiwest Pty Ltd
  73. Billiton Manganese Australia Pty Ltd
  74. Amcor Limited
  75. Owens-Illinois (Australia) Pty Ltd
  76. Aurora Energy Pty Ltd
  77. Wilpinjong Coal Pty Ltd
  78. Axia Energy Australia Pty Ltd
  79. Paper Australia Pty Ltd
  80. Prosafe Production Services (Australia) Pty Ltd
  81. Fortescue Metals Group Ltd
  82. Idemitsu Australia Resources Pty Ltd
  83. Toll Holdings Limited
  84. Ecogen Holdings Pty Ltd
  85. Enhance Place Pty. Limited
  86. Waste Recycling and Processing Corporation
  87. Tarong North Pty Ltd
  88. Arrow Energy Ltd
  89. Nyrstar Australia Pty Ltd
  90. Comgen Australia Pty Ltd
  91. Sembsita Australia Pty. Limited
  92. Hydro Aluminium Kurri Kurri Pty Ltd
  93. Newmont Australia Holdings Pty Ltd
  94. Woolworths Ltd
  95. DBNGP (WA) Transmission Pty Limited
  96. Pratt Consolidated Holdings Pty. Ltd.
  97. Honan Holdings Pty Ltd
  98. Chevron Australia Holdings Pty Ltd
  99. New Hope Corporation Limited
  100. Unimin Asia Pacific Pty Ltd
  101. Penrice Soda Holdings Limited
  102. Macarthur Coal Limited
  103. Whitehaven Coal Limited
  104. APT Pipelines Limited
  105. Brickworks Ltd
  106. Multinet Group Holdings Pty Limited
  107. CH2M Hill Australia Pty Ltd
  108. Norske Skog Industries Australia Limited
  109. Yancoal Australia Pty Limited
  110. Kalgoorlie Consolidated Gold Mines Pty Ltd
  111. Brisbane City Council
  112. QMAG Limited
  113. Big Ben Holdings Pty. Limited
  114. Linfox Pty Ltd
  115. Downer EDI Limited
  116. Tiger Airways Australia Pty Limited
  117. Goldfields Power Pty Ltd
  118. Grange Resources Limited
  119. Jellinbah Group Pty Ltd
  120. Barrick (Australia Pacific Holdings) Pty Ltd
  121. Melbourne Water Corporation
  122. Holcim Participations (Australia) Pty Ltd.
  123. JBS Holdco Australia Pty Ltd
  124. Caledon Coal Pty Limited
  125. Sonoma Mine Management Pty Ltd
  126. New Zealand Milk (Australasia) Pty Ltd
  127. Hanson Australia (Holdings) Proprietary Limited
  128. ICC Holdings Pty Limited
  129. Snowy Hydro Limited
  130. CITIC Pacific Mining Management Pty Ltd
  131. Farstad Shipping (Indian Pacific) Pty Ltd
  132. Devereaux Holdings Pty Ltd
  133. MMG Management Pty Ltd
  134. Felix Resources Limited
  135. Barrick (PD) Australia Limited
  136. Xstrata Coal Queensland Pty Limited
  137. TT-Line Company Pty Ltd
  138. SPI Electricity & Gas Australia Holdings Pty Ltd
  139. International Energy Services Pty Ltd
  140. Koppers Australia Pty Ltd
  141. AngloGold Ashanti Australia Limited
  142. PaperlinX Limited
  143. Murray Goulburn Co-operative Co. Limited
  144. D.M. & M.T. Nolan Pty. Ltd
  145. Auscan Holdings Pty Ltd
  146. PTTEP Australia Perth Pty Ltd
  147. Energex Limited
  148. State Transit Authority of NSW
  149. Cairnton Holdings Limited
  150. Sydney Water Corporation
  151. Roc Oil Company Limited
  152. Peabody (Burton Coal) Pty Ltd
  153. Baiada Pty Limited
  154. BHP Billiton Nickel Operations Pty Ltd
  155. Prime Infrastructure Holdings Limited
  156. A.A. Scott Pty Ltd
  157. Envirogen Pty Ltd
  158. Millennium Inorganic Chemicals Limited
  159. Water Corporation
  160. A.C.N. 098 904 262 Pty Ltd
  161. Jet Systems Pty Ltd
  162. Kimberly Clark Pacific Holdings Pty Ltd
  163. Teekay Holdings Australia Pty Ltd
  164. Mount Gibson Iron Limited
  165. A J Bush & Sons Pty Ltd
  166. Lion Nathan National Foods Pty Ltd
  167. Isaac Plains Coal Management Pty Ltd
  168. Mitchell Corp Australia Pty Ltd
  169. Food Investments P/L
  170. Ergon Energy Corporation Limited
  171. Gold Fields Australia Pty Ltd
  172. OZ Minerals Limited
  173. The Maddingley Mine Trust
  174. BGC (Australia) Pty Ltd
  175. Donaldson Coal Pty Limited
  176. Building Supplies Group Holding Pty Ltd
  177. Coalpac Pty Ltd
  178. Silk Logistics Group Holdings Pty Limited
  179. HCPH Holdings Pty Limited
  180. Australian Postal Corporation
  181. Rail Corporation New South Wales
  182. Byrns Smith Unit Trust
  183. Aditya Birla Minerals Ltd
  184. Fletcher Building (Australia) Pty Ltd
  185. A.C.N. 137 191 023 Pty Ltd
  186. St Barbara Limited
  187. V/Line Corporation
  188. Simplot Australia (Holdings) Pty Limited
  189. Foster’s Group Limited
  190. Fulton Hogan Australia Pty/Ltd
  191. Goodman Fielder Limited
  192. Inghams Enterprises Pty Limited
  193. CEVA Pty Ltd
  194. Valemus Australia Pty Ltd
  195. Cargill Australia Limited
  196. Country Energy
  197. ACTEW Corporation Ltd1
  198. Telstra Corporation Limited
  199. South Australian Water Corporation
  200. Veolia Transport Australasia Pty Ltd
  201. Nippon Meat Packers Australia Pty Ltd
  202. Coca-Cola Amatil Limited
  203. Graincorp Limited
  204. SCA Tissue Australia Pty Limited
  205. Cristal Australia Pty Ltd
  206. Thales Australia Holdings Pty Ltd
  207. Heinz Watties Pty Ltd
  208. Toyota Motor Corporation Australia Ltd.
  209. Kagara Ltd
  210. Bega Cheese Limited
  211. Nestle Australia Ltd
  212. ALDI Stores (A Limited Partnership)
  213. Cadbury Australia Limited
  214. Oceanic Coal Australia Limited
  215. Hunter Water Corporation
  216. Boeing Australia Holdings Proprietary Limited
  217. McCain Foods (Aust) Pty Ltd
  218. Ford Motor Company of Australia Limited
  219. Norton Gold Fields Limited
  220. The Trustee for Costa’s Unit Trust
  221. Gladstone Ports Corporation Limited
  222. General Motors Australia Ltd
  223. Coogee Chemicals Pty Ltd
  224. Mars Australia Pty Ltd
  225. Crown Limited
  226. Silicon Metal Company of Australia Pty Ltd
  227. Bradken Limited
  228. EnergyAustralia
  229. Northgate Australian Ventures Corp Pty Ltd
  230. SP Australia Networks (Transmission) Ltd
  231. Arnotts Biscuits Holdings Pty Ltd
  232. BOC Limited
  233. Harvey Norman Holdings Limited
  234. Commonwealth Bank of Australia
  235. Metropolitan Health Service
  236. Lend Lease Corporation Limited
  237. James Hardie Austgroup Pty Ltd
  238. Parmalat Australia Ltd
  239. MML Holdings Pty Ltd
  240. Electricity Networks Corporation1
  241. PMP Limited
  242. Integral Energy Australia
  243. CHEDHA Holdings Pty Limited
  244. Stockland Corporation Ltd
  245. LGL Australian Holdings Pty Ltd
  246. Doral Mineral Industries Limited
  247. Monash University
  248. AAPC Limited
  249. GPT Management Holdings Ltd
  250. Commonwealth Scientific and Industrial Research
  251. IPMG Pty Limited
  252. Crane Group Limited
  253. TransGrid
  254. Resolute Mining Limited
  255. Ramsay Health Care Limited
  256. The Uniting Church in Australia Property Trust (Q)
  257. John Swire & Sons Pty Ltd
  258. Holiday Inns Holdings (Australia) Pty Ltd
  259. Competitive Foods Australia Pty Ltd
  260. University of Melbourne
  261. Sun Metals Holdings Limited
  262. ETSA Utilities
  263. Mirvac Limited
  264. Healthscope Limited
  265. Tabcorp Holdings Limited
  266. National Australia Bank Limited
  267. Westfield Holdings Limited
  268. Perilya Limited
  269. Public Transport Authority of Western Australia
  270. St Vincent’s Health Australia Ltd
  271. Salvage Pty Ltd
  272. Queensland Electricity Transmission Corporation Limited
  273. LyondellBasell Australia (Holdings) Pty Ltd
  274. Dexus Holdings Pty Limited
  275. Westpac Banking Corporation
  276. AMP Limited
  277. Fairfax Media Limited
  278. Australia and New Zealand Banking Group Ltd
  279. United Energy Distribution Holdings Pty Limited
  280. News Australia Holdings Pty Limited
  281. Macquarie Group Limited
  282. ISPT Pty Ltd
  283. David Jones Limited
  284. Southern Cross Airports Corporation Holdings Ltd
  285. Air Liquide Australia Limited
  286. Metro Trains Melbourne Pty Ltd
  287. The University of Queensland
  288. Centro Properties Limited
  289. McDonald’s Australia Ltd
  290. Myer Holdings Limited
  291. SunWater
  292. QIC Limited
  293. Frequency Infrastructure Australia Holdings Pty Ltd
  294. ElectraNet Pty Ltd
  295. IBM A/NZ Holdings Pty Limited
  296. Port Waratah Coal Services Limited
  297. Amalgamated Holdings Limited
  298. Vodafone Hutchison Australia Pty Ltd
  299. Global Switch Australia Pty Limited

Oh … you noticed.

Yes, that is only 299 “biggest polluters”.

With an enormous leap of faith, one might assume that the Government will find the other 201 “biggest polluters” from amongst the remaining 476 (of a grand total 775) corporations listed in the complete NGER Register.

Of course, to do so would mean that they would be including even more evil “polluting” corporations like some of those highlighted above.

Like …

The universities.

All of them.

The Royal Flying Doctor Service.

The Royal Children’s Hospital.

The Alfred teaching hospital.

The Melbourne Cricket Club.

Really, really evil “biggest polluters” like that.

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Hunter Aluminium Producers To Receive 94.5% Free Carbon Permits

18 Jul

From the Newcastle Herald, 16 July 2011 (emphasis added):

Key industries in the Hunter say they face uncertainty under the government’s carbon tax, despite the significant financial support to be provided to some.

The Hunter’s mining and aluminium industries, both major employers, say the tax will reduce their competitiveness internationally.

The Hunter provides one-third of Australia’s aluminium and production is expected to double in the next 10 years, but the industry says the tax will force a lot of it overseas.

The industry would receive free carbon permits covering 94.5 per cent of average costs under the government’s proposal.

The coalmining industry is still warning of job losses in regions such as the Hunter despite the government’s $1.3 billion support.

Regular readers will know that I have already pointed out the gaping holes … lies … in the Government’s scheme scam.

The handing out of “freely allocated” carbon permits to “trade-exposed” industries in particular is a classic example of why I have been right all along in insisting that this scam is not “a tax” … or “like a tax” … but is a sneakily disguised emissions trading scheme from Day 1.

Why?

Because while “purchased” carbon permits are not tradable in the initial 3 year “fixed price period” … “freely allocated” permits are –

Scheme architecture

Table 1: Starting price and fixed price period

Permits freely allocated may be either surrendered or traded until the true-up date for the compliance year in which they were issued. They cannot be banked for use in a future compliance year.

Lucky “polluters” like the aluminium producers will receive – it now appears – millions of free permits.

Just like in the massively rorted European scheme.

Which they can either “surrender” back again to “pay” for their “excess” emissions.

Or, trade their free permits (for profit).

Or, sell their free permits back to the Government … who will use your money to buy those free permits back again:

Buy‑back of freely allocated permits

The holders of freely allocated permits will be able to sell them to the Government from 1 September of the compliance year in which they were issued until 1 February of the following compliance year.

The latest NGER Report on “biggest polluters” emissions shows that just one of the Hunter’s alumium producers – Hydro Aluminium Kurri Kurri – emitted 366,598 tonnes of Scope 1 emissions, and 2.509 million tonnes of Scope 2 emissions in the most recent voluntary reporting period (2009-10).

So, with a carbon dioxide price set at $23 per tonne, and the Government planning to give Hydro Aluminium free carbon permits covering 94.5% of their emissions … well, you can do the math.

Sounds like an awful lot of free carbon dioxide “money” to me.

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Bankers’ Chief – Carbon Price Is “Essentially Creating A New Market”

16 Jul

From news.com.au (emphasis added) –

Revealed: The real winners of Gillard’s carbon price plan

Big banks, accountants and lawyers are among the big winners to cash in on the carbon plan, as companies wrestle with reporting requirements arising from the tax.

Banks will be involved in trading carbon permits when emissions trading starts in 2015, and will develop new products to help polluters reduce their carbon exposure.

Australian Bankers’ Association chief executive Steven Munchenberg said the Government’s carbon price was “essentially creating a new market“.

“We would therefore expect to see a range of instruments developed to help companies manage their carbon exposure,” he said.

Indeed.

There you have it.

Straight from the Australian Bankers parasites’ mouthpiece.

The grand Scheme scam to “price carbon” is “essentially” – meaning “in essence” – the creation of a new market.

A bankers’ paradise.

The key thing that bankers’ want – an underlying “market” of carbon permits, on top of which they can then create a whole new carbon “securities” (ie, “derivatives”) casino – is actually built into the Government’s Scheme scam from Day 1 –

Table 6 Compliance

Carbon permits

The domestic unit for compliance with the carbon pricing mechanism will be the ‘carbon permit’.

Each carbon permit will correspond to one tonne of greenhouse gas emissions.

The creation of equitable interests in carbon permits will be permitted, as will taking security over them.

Confirmed.

The carbon permits can be used as the basis for bankers to create other, new financial “securities”.

Carbon derivatives, in other words. Derivatives (or “securities”) are the toxic financial “products” that were at the heart of the GFC.

It’s worth noting that the above article is wrong in one very important detail.

Like all mainstream media, this story incorrectly reports that –

Banks will be involved in trading carbon permits when emissions trading starts in 2015…

Au contraire!

As I detailed in “Our Bankers’ Casino Royale – ‘Carbon Permits’ Really Means ‘A Licence To Print'”, banks will be able to benefit from fees and commissions from trading in carbon permits, right from the beginning. Even during the so-called “fixed price period”.

How’s that?

Because … it is only “purchased permits” that are not tradeable in the first 3 years.

“Freely allocated permits“, on the other hand, are tradable.

As with the now-notorious European ETS scheme, many of our so-called “500 biggest polluters” – 201 of whom may not even exist – will receive lots of “free permits”.  To “assist” and/or “protect” our “trade-exposed” industries, you see.

And those “freely allocated” permits are tradable:

Scheme architecture

Table 1: Starting price and fixed price period

Permits freely allocated may be either surrendered or traded until the true-up date for the compliance year in which they were issued. They cannot be banked for use in a future compliance year.

What’s more, Brown-Gillard’s grand design also allows “polluters” to sell their “freely allocated” permits back to the Government.

That’s right.

Lucky “polluters” will get lots of free permits, which they can either “surrender” back again to “pay” for their “excess” emissions – which they report themselves(!). Or, trade their free permits (for profit). Or, sell their free permits back to the Government … who will use your money to buy those free permits back again:

Buy‑back of freely allocated permits

The holders of freely allocated permits will be able to sell them to the Government from 1 September of the compliance year in which they were issued until 1 February of the following compliance year.

Moreover, the Government is not only “essentially creating a new market” for banks to profit from fees on the simple trade in the carbon permits themselves.

And create their new galactic-scale carbon “derivatives” market, leveraged on top of the simple trade in permits.

The news gets even better for the bankers.

Because the Government’s scheme scam will also set up an “advance auction” system, during the so-called “fixed price period”, where carbon permits valid for the later “flexible price” system can be purchased in advance.

Which is essentially nothing less than a Futures trading system for the bankers and speculators to exploit:

Auctions of permits

The Government will advance auction future vintage permits. There will be advance auctions of flexible price permits in the fixed price period.

It’s easy to see why the banksters’ are pleased right now.

The Government’s scheme allows them to:

1. Begin creating and trading in carbon “securities” (ie, derivatives of carbon permits) from Day 1.

2. Earn fees and commissions from trade in “freely allocated” permits during the “fixed price” period.

3. Earn fees and commissions from Futures trading in the “advance auctions” of “flexible price” permits during the “fixed price” period.

4. Create other derivatives products on top of the Futures trade in advance auctions of permits.

And all this before the all-singing, all-dancing “free market” scheme kicks in three years later.

Any suggestion that this is somehow not a mechanism designed to allow banksters’ to begin creating the Australian arm of their new global derivatives monster – the true goal of the push for global “emissions trading” – is simply a blatant lie.

There is nothing in the Government’s scheme that prevents the banksters from doing everything they have wanted, from the moment the scheme begins.

In fact, as anyone can easily see from a careful reading of the Government’s own documentation, it is perfectly clear that the scheme is purposefully designed to grant the banksters’ free reign. All hidden behind the curtain of the misleading and deceptive name of “tax” or “fixed price ETS”.

Prior to the announcement of the Government’s “carbon pricing mechanism”, I argued extensively – including with Opposition Climate Action spokesman Greg Hunt MP – that the scheme is simply “the bankers’ CPRS by another name”.

Now that the scheme details have been announced, almost every passing day reveals new confirmations that I was right.

The strongest argument for my position comes from the Government’s own official documents.

But it is certainly nice to see the head of the Australian Bankers Association come out within days, and tacitly confirm the truth as well.

I rest my case?

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