Tag Archives: CER

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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Hey You, Bankers’ Stooge! THIS Is How To Save The Planet

10 Mar

This morning I am really angry.

And deeply sorrowful.

Why?

Because I watched this inspiring, brilliant, contrarian-thinking, must-watch TED talk, by someone I had never heard of before:

Did you weep a little watching that?

I did.

Seriously. I did.

But why the mixed emotions, you may well ask. Whence cometh your humble blogger’s anger, and sorrow? Surely this is good news, hopeful news, inspiring and joyful news?

Well…

I am angry because so many otherwise intelligent, educated, thoughtful, well-meaning people have been fooled into supporting the idea that population control – fewer human beings (notable exception: themselves) – is critical to the future of life on the planet. Hence, all manner of genocidal ideas wearing the mask of “environmentalism” gain support – such as reducing the world’s numbers of cattle, a major protein source in human food consumption in developed nations, and an aspirational one in developing nations.

I am angry because so many otherwise intelligent, educated, thoughtful, well-meaning people have been fooled into supporting the idea that allowing central bankers to create literally trillions of dollars out of thin air to bail out the private bankstering system from 2007-08 onwards, was and is “necessary” … but creating just $175 billion a year to end “extreme” poverty in the world, is not.

I am angry because so many otherwise intelligent, educated, thoughtful, well-meaning people have been fooled into supporting the idea that global CO2 trading schemes – “putting a price on carbon” – will save the planet from global warming; that the politically-legalised financialisation (by bankers) of carbon dioxide “units” – created as electronic digits in a computer, just like money – in order to make carbon dioxide a tradeable “commodity”, is mankind’s best hope for avoiding “catastrophic”, “runaway” climate change, because – so they claim – globalised trading in electronic carbon dioxide “units” (not to mention, their derivatives) will reduce global emissions.

It isn’t –

The world emits 48% more carbon dioxide from the consumption of energy now than it did in 1992 when the first Rio summit took place.

And it won’t –

…the new game in town, the next bubble, is in carbon credits … The new carbon credit market is a virtual repeat of the commodities-market casino that’s been kind to Goldman [Sachs], except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won’t even have to rig the game. It will be rigged in advance.

… Well, you might say, who cares? If cap-and-trade succeeds, won’t we all be saved from the catastrophe of global warming? Maybe — but cap-and-trade, as envisioned by Goldman, is really just a carbon tax structured so that private interests collect the revenues. Instead of simply imposing a fixed government levy on carbon pollution and forcing unclean energy producers to pay for the mess they make, cap-and-trade will allow a small tribe of greedy-as-hell Wall Street swine to turn yet another commodities market into a private tax collection scheme.

I am angry because so many otherwise intelligent, educated, thoughtful, well-meaning people think it is a good thing that powerful lobby groups are now pressuring the government to bring forward the date when our own carbon dioxide “tax” scheme transitions to a full cap-and-trade scheme…

“The Australian Industry Group today called on all sides of politics to support the immediate removal of the fixed price carbon tax and move directly to an internationally linked emissions trading scheme,” Ai Group Chief Executive, Innes Willox, said today.

…which is exactly what the bankers have wanted from the very beginning:

Australian banks are eyeing opportunities to cash in on the proposed carbon tax by developing new financial products and services that capitalise on a market seen to be worth billions of dollars annually, according to a report by the Australian Financial Review.

Australian financial firms that have experience in European carbon markets, such as Macquarie Group Ltd, Westpac Banking Corp Ltd and ANZ Banking Group Ltd are particularly keen to establish their presence in the Australian market.

The initial three-year fixed carbon tax period from 2012 will serve as time to prepare for the release of ETS permits by 2015, when opportunities will really open up for banks to capitalise on the carbon market.

ANZ’s head of energy trading said the value of the derivatives carbon market would dwarf the $10 billion initially raised by the government, according to the AFR.

I am angry because so many otherwise intelligent, educated, thoughtful, well-meaning people have fooled themselves into believing that the recent history of unlimited, unregulated, unmonitored, off-balance sheet, “shadow” market derivatives creation and trading by the world’s bankers that led directly to the GFC will not repeat itself – think Mortgage-Backed Securities (MBS), Collateralised Debt Obligations (CDO), and Credit Default Swaps (CDS); that allowing the bankers freedom to set up a new unlimited, unregulated, unmonitored, off-balance sheet “shadow” market in CO2 derivatives creation and trading is not a recipe for an even greater global financial Armageddon; that the massive “moral hazard” caused by declaring the world’s biggest banks to be “Too Big To Fail” – and now, “Too Big To Prosecute” – is a chance worth taking, in order to “save the planet” from rising CO2 emissions.

I am deeply saddened because simple, commonsense, natural, human-life enabling and enhancing ideas – practical, cheap, non-predatory solutions to the popularly-alleged imminent planetary threat of runaway global warming – from virtually unknown people such as Allan Savory – and one of my favourites, Austrian forester/forest warden, naturalist, philosopher, inventor and Biomimicry experimenter Viktor Schauberger* – continue to be ignored or belittled. And most often by … yes, those very same otherwise intelligent, educated, thoughtful, well-meaning people who, despite their intelligence and learning (and often, because of it, and the pride that follows), on this subject, are simply too dumb to see that they are really just stooges for the bankers:

1. Stooge

Someone who is used by others to get what they want, a clown, a follower.

I_see_dumb_people_800x600

Whether you are labelled a “denialist” or an “alarmist”, matters little.

Ideas such as those of Savory and Schauberger are worth placing at the top of our priority tree.

Because, unlike the legalisation of carbon dioxide “units” for bankers to trade – or even worse, their off-balance sheet creation and “shadow market” trading of unlimited, unmonitored, unregulated derivatives on top of those carbon dioxide “units” – Savory’s and Schauberger’s ideas can make life better.

For every one of us.

And for more of us. Not less.

So if you really, truly believe that we need to “save the planet” .. and even if you don’t … THIS is how to do it.

Electronic carbon dioxide “unit” trading, as the basis for a secondary, “shadow” banking pyramid scheme of unlimited, unmonitored, unregulated derivatives trading, is not.

The bankers are the problem.

Not the solution.

It is their monstrous, worldwide, daily creation and lending-for-interest/profit of electronic digits that we call “money”, that drives all economic “activity” (ie, “growth”).

When there is less “money”, the economy slows, right?

And with less “growth”, less “activity”, there are less carbon dioxide emissions:

US emissions are up for the first time since recession hit in 2008, in a sign of how closely pollution is linked to economic success.

Instead of blaming a morally nebulous, comfortable, dehumanising label titled “population growth” – that’s real live struggling and loving and caring fellow human beings you’re talking about! – for carbon dioxide emissions driving “catastrophic” “man-made” climate change, take a closer look at the real culprits.

Or as some wisely advise, Follow The Money.

Because “money makes the world go ’round”.

It is the bankers who financed the Industrial Revolution.

It is the bankers who have driven national and social (economic) inequality.

It is the bankers who finance all wars – the most unnecessary, wasteful, inefficient, selfish, and costly “activity” of all (can you believe that economic experts unblinkingly “credit” World War 2 for ending the Great Depression? All that lovely new economic “activity”, you see).

It is the bankers who finance – for profit – all the wasteful, inefficient, selfish, unnecessary consumption of ever more and more and more material “goods” (of ever declining quality/longevity) and “services”.

It is the bankers who have, over many generations, grown immensely powerful and unimaginably wealthy by taking advantage of our foolishly granting them the exclusive power to finance – at interest – all “economic activity”, period.

Activity – so much of which is of dubious real necessity, or value – that needs fossil fuel energy to operate.

Oh yes… it is the bankers who financed – for profit – the growth and power of the fossil fuel energy corporations too.

If you actually believe that a solution to the “climate emergency” that bankers unanimously support, lobby for, and stand ready to massively profit from, is a good idea that will achieve the stated purpose – saving the planet – then you really are, beyond any possibility of dispute, a willfully ignorant fool.

A bankers’ stooge.

* P.S. I found Allan Savory’s brief mention of temperature differentials for desertified soils vs non-desertified soils (at 8:10) very interesting, in light of my reading the works of the little known genius, Viktor Schauberger. Central to his observations, insights, theories, and experiments, was the critical importance of temperature differentials within every body of water.

P.P.S. If (like me) you are interested to know more about Allan Savory’s work, then visit the Savory Institute website.

China, India Receive Free UN Carbon Credits For Coal-Fired Power Plants

15 Jul

The following article was brought to my attention by a reader, who has also provided a copy of his related letter to Greg Hunt MP (below).

The implications of this story for Australia’s public policy on addressing “climate change” are profound.

In effect, what the following revelation means is this.

Australia, under our Green-Labor-Independent dictatorship, will be deliberately undermining our own coal-fired electricity sector via the Government’s no-mandate imposition of a carbon “X” scheme; we will then be buying some $3 Billion per annum worth of carbon dioxide credits from countries such as China and India; they will be able to sell us their UN-provided free carbon credits, while at the same time, buying our coal to burn in their UN-subsidised coal-fired powerplants.

Read on, and be stunned at the insanity of green totalitarianism’s global policy of reduce-all-to-the-lowest-common-denominator:

Environmentalists criticized the United Nations on Tuesday after it ruled that a large Indian coal-fired power project is eligible to earn carbon credits worth $165 million at current prices.

Several green organizations said the U.N. rules, or methodology, applied to the 4,000 MW supercritical plant owned by Reliance Power were flawed and that the project was viable without the sweeteners of tradable carbon credits called certified emissions reductions (CERs).

The power station, in Krishnapatnam in Andhra Pradesh, is the second Reliance Power project to be formally registered by the United Nations under its Clean Development Mechanism.

In total, five high-efficiency coal power plants have been registered under the CDM — four in India and one in China — meaning they are all eligible to earn CERs that they can sell.

The five registered power projects involve two from Reliance Power totaling 8,000 MW, two projects totaling 2,640 MW from Adani Power and a 2,000 MW ultra-supercritical plant by Shenergy in China.

According to U.N. data, the five projects are eligible to receive a total of 68.2 million CERs over a 10-year crediting period. That is worth 661 million euros ($919 million) based on current prices of CERs traded on the European Climate Exchange of 9.70 euros.

Reliance’s Krishnapatnam plant will receive 12.3 million CERs and the firm’s other 4,000 MW plant, Sasan Power in Madhya Pradesh, will receive 22.5 million.

You read that right.

5 coal-fired powerplants in China and India are to receive hundreds of millions worth of free carbon credits from the UN.

They will profit from selling those free permits – quite possibly to Australia, thanks to our Government’s plan to deliberately undermine our international competitiveness – while burning our coal in their power plants.

The reader who kindly provided the link to the above article has also provided a copy of his letter to Opposition Climate Action spokesman, Greg Hunt MP. Regular readers will be familiar with Mr Hunt’s penchant for equivocation and obfuscation when challenged, from his recent exchange with your humble blogger ( “Letter To Greg Hunt MP” ), and so will not be at all surprised to learn that his response to our reader’s letter was similarly brief, obfuscatory, and inane.

Please read on for further insights into the cold hard reality, that our card-carrying Green cargo-cult politicians all wilfully choose to ignore –

Hi,

Firstly please don’t think I am going to bombard you with emails, I’m not – far too busy for a kickoff! 🙂 but this is too insane and serious to not bring to your attention.

http://www.eco-business.com/news/carbon-credits-for-india-coal-
power-plant-stoke-criticism/

A massive coal-based project in India is now earning carbon credits in the hundreds of thousands a year, the exact opposite outcome of our carbon tax from the same basic facts.

What is significant in this is that local coal producers and users such as energy plants are being smashed by the carbon tax, which is based directly (allegedly) on UN guidelines, the IPCC and the Clean Development Mechanism Kyoto Protocols.

So how can the same “rules” credit coal plants in India and lead to our coal plants being taxed to hell and gone?

That clearly means there is a misapplication of the rules, and a fatally serious one, either in India, or here.

If it’s in India, the whole credit system at the UN is called into question. If that’s the case, our own carbon tax is following a dead end and has to stop immediately.

If the problem is here, we must immediately adopt changes to the proposed carbon law (or better yet kill it, but…) so as to reflect the same rulings here as India enjoys. In the process, that would, through carbon accounting, greatly reduce our carbon footprint, at the stroke of a pen, rather than through merciless economic warfare on our engine room industries.

There is a very VERY lively insider discussion on this in the carbon trade industry right now. Ugly arguments over carbon accounting and carbon auditing, the principle of additionality and just exactly what we wouldn’t want if the ETS type approach is to work.

Madness.

What is particularly serious about this situation is that the DCCEE should have been all over this issue like a cheap suit. To the best of my knowledge no one from junior time server up to the minister even has the faintest clue this situation has occurred. I did try and tell them a year ago but they are yet to reply to that email.

How ironic.

If the Gillard gang do what the do best – nothing – we will be in a situation where our own government is penalising our coal industry, AND forcing them to buy credits after a few years of soaking them with a tax… At the exact same time as India not only does not have a penalty tax (their carbon tax on coal is a pittance), but they are now allowed to earn credits from coal. Coal is the most abundantly used industrial fuel source in India and its region.

This means they will now be paid by the UN carbon trade to use coal, be allowed to trade in credits freely, escape any of their own taxation, and see our own coal industry become totally and completely irrevocably non competitive.

This carbon tax has scaled the dizzying heights of lunacy in less than a week, and I say that as a carbon trader. This is just nuts.

I am back in Australia as of Saturday, and am making myself available at once to brief any or all of you or any coal industry personnel who need to understand this. This has got no press but it is a big deal. It empowers India (and China) to triple dip on their coal use whilst the bozo gillard government destroys Australia’s power base.

Politically I also hope this can be used to devastating effect during La Gillard’s “Endless Bummer” walking tour of Australia. I know the situation described is somewhat technical but it comes down to this:

Why are we taxing coal into oblivion under the same system that is rewarding India for using coal?

We will end up buying credits for our coal from India’s coal. Huh?

China will follow India in this.

China will then be exploiting our down spiral economy by buying coal cheap, earning credits on that coal in China, then selling the credits back to us. HUH?

The DCCEE is ASLEEP! And that’s probably good because when they’re awake- something in our economy dies.

All the best to you, and if this has been any use at all I am very glad.

(Name withheld for privacy)

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