Derivatives Regulation Fight Lurks in US Climate Bill (June 26, 2009)
“The fight over regulating the $592 TRILLION over-the-counter derivatives market spilled over into climate-change legislation being debated in the U.S. House of Representatives today.
A derivatives provision tucked inside the 1,201-page measure to limit greenhouse gases is intended to spur Congress to enact new laws reining in a largely unregulated swath of U.S. financial markets, according to Representative Bart Stupak of Michigan. He added to the bill a measure that would regulate over-the-counter derivatives, accepting a stipulation sought by other Democrats that those rules would be repealed if Congress adopts broader market regulations.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=a.9mZUnQbY5c
Obama implores Senate to pass climate bill (June 27, 2009)
In this, you’ll notice the recycled terms that were used in the “need” to pass the ‘Stimulus’ bill.
“My call to every senator, as well as to every American, is this,” he said. “We cannot be afraid of the future. And we must not be prisoners of the past. Don’t believe the misinformation out there that suggests there is somehow a contradiction between investing in clean energy and economic growth.” That is a huge contradiciton! Gov’ts don’t create jobs. Business creates jobs.
Obama said the bill would create jobs (just like ’stimulus’ did?), make renewable energy profitable and decrease America’s dependence on foreign oil (borrowing from Bush speeches now?).
“It will spur the development of low-carbon sources of energy — everything from wind, solar and geothermal power to safer nuclear energy and cleaner coal (no such thing),” he said.
Wind, solar and geothermal are already available! They don’t need to be developed! They need to be utilized! Iceland has been using geothermal for years and it powers and warms the entire city of Reykjavik.
“In California alone, Obama said, 3,000 people will be employed to build a new solar plant that will create 1,000 permanent jobs.”
Whoppee-do. That means 2,000 people will be out of work - again, after it’s built. California is already at a record 11.5% unemplyment rate. Owe-bama thinks that passing and collecting cap and trade taxes from you to pay for a 1,000 jobs will make a dent in that percentage? I wonder how people in other states feel about their unemployment while O goes on about California’s and wants them to pay for it?
http://news.yahoo.com/s/ap/20090627/ap_on_go_co/us_climate_bill
From Rivero:
One of the last major pieces of legislation passed by a congress which never actually read the document was the ‘Stimulus’ Bill or the US Patriot Act.
And we know just how much of a body blow to the Constitution and Bill of Rights that was.
This is a complete fraud, and will do nothing to actually help the environment.
It will, with what will be essentially a surcharge on energy you use, make certain individuals more filthy rich than they already are.
As reported in
“The “privately-owned” Chicago Climate Exchange is heavily influenced by Obama cohorts Al Gore and Maurice Strong.
For years now Strong and Gore have been cashing in on that lucrative cottage industry known as man-made global warming.
Strong is on the board of directors of the Chicago Climate Exchange, Wikipedia-described as “the world’s first and North America’s only legally binding greenhouse gas emission registry reduction system for emission sources and offset projects in North America and Brazil.”
Gore, self-proclaimed Patron Saint of the Environment, buys his carbon off-sets from himself–the Generation Investment Management LLP, “an independent, private, owner-managed partnership established in 2004 with offices in London and Washington, D.C., of which he is both chairman and founding partner. The Generation Investment Management business has considerable influence over the major carbon credit trading firms that currently exist, including the Chicago Climate Exchange.”
Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress (March 25, 2009)
In 2000 and 2001, while Barack Obama served as a board member for a Chicago-based charitable foundation, he helped to fund a pioneering carbon trading exchange that is likely to fill a critical role in the controversial cap-and-trade carbon reduction scheme that President Obama is now trying to push rapidly through Congress.
During those two years, the Joyce Foundation gave nearly $1.1 million in two separate grants that were instrumental in developing and launching the privately-owned Chicago Climate Exchange, which now calls itself “North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.”
One of those gases is carbon dioxide, the most ubiquitous greenhouse gas and the focus of the most far-reaching — and contentious — efforts to combat “climate change.” On Monday, Obama’s Environmental Protection Agency declared carbon dioxide a public health threat.
Beware of Cap and Trade Climate Bills (December 6, 2007)
“These measures would set a limit, or cap, on carbon dioxide emissions from fossil
fuel use. The effect of such a cap would be to impose rationing of coal, oil, and natural
gas on the American economy. Each covered utility, oil company, and manufacturing facility
would be given allowances based on past emissions or some other formula. Those companies
that emit less carbon dioxide than permitted by their allowances could sell the excess to
those that do not; this is the trade part of cap and trade. Over time, the cap would be
ratcheted down, requiring greater cuts in emissions.
—
Cap and trade bills are nothing short of a government re-engineering of the American
economy. And S. 2191, with its aggressive targets to reduce emissions from fossil fuel
use, would put the nation on a path of serious economic harm not justified by any
benefits.” http://www.heritage.org/Research/Economy/wm1723.cfm
(Prison Planet, 6.27.2009, Vaughan Huska) http://www.prisonplanet.com/the-climate-bill-carbon-trading-scam-of-the-century.html