A house of cards collapses 0

The tumult and the shouting about global warming dies. Captains and kings of the great scam quietly depart. The Chicago Climate Exchange is giving up carbon trading, as Investor’s Business Daily is happy to report:

Climate Fraud: As the case for global warming and cap-and-trade has collapsed, so too has the market that was to exploit this manufactured crisis for fun and profit. The climate-change bubble has burst.

The collapse of the Chicago Climate Exchange (CCX) … [has]  implications for the future of the American economy and the business climate [that] are staggering: It is an acknowledgment that both the case for climate trade and cap-and-tax legislation has also collapsed.

On Oct. 21 the exchange announced it was ending carbon trading … Launched as a “voluntary” method of trading “carbon credits,” CCX rested on the hope that cap-and-tax legislation would make such trading mandatory — and profitable. …

The hope of the scammers was that Obama would succeed in forcing through such legislation. He certainly wanted to. He was involved in the hustling from the start:

Barack Obama served on the board of the Joyce Foundation from 1994 to 2002, when it issued CCX start-up grants. Presidential adviser Valerie Jarrett also once sat on the Joyce board. As president, cap-and-trade is one of Obama’s highest priorities.

The exchange’s founder, Richard Sandor … [had] estimated that climate trading could be “a $10 trillion market,” … But now, in the wake of Climate-gate and other scandals, as well as recent election results, that’s an unlikely event.

Can we be so ungenerous as to exult over the scammers’ staggering losses? Yes we can.

The biggest losers are CCX’s two biggest investors, Al Gore’s Generation Investment Management and Goldman Sachs …

CCX’s collapse was inevitable as both the enthusiasm for cap-and-trade — and the world itself — cooled. After the e-mail exchanges from the Climate Research Unit at the University of East Anglia reveled the extent to which global climate data were being manipulated to “hide the decline” in global temperatures, hopes for profiting off the scam with another scam evaporated. …

Carbon trading at CCX all but dried up as prices plunged from over $7 a ton in 2008 to just 10 cents as of August [2010]. …

CCX’s carbon-trading demise is reassuring evidence that eventually all houses of cards will collapse.

Disaster and suspicion 6

One of the deplorable things about the vast and still spreading oil leak in the Gulf of Mexico is that it gives the “green energy”  fanatics an argument against domestic drilling in the United States and off its shores. They are the only ones who have anything to gain by the disaster.

Jim O’Neill has “worked as a commercial diver in off-shore oilfields around the world (including the Gulf of Mexico)” and so, he says, “I have some idea of the difficulties involved with operations in 5,000 feet of water, (around 155 atmospheres of pressure).”

He has a suspicion that the explosion which sank Transocean’s deepwater semi-submersible rig “Horizon” in the Gulf of Mexico on April 22, leaking 5,000 barrels of oil per day, may have been caused deliberately.

He does not make a strong case, but as we are suspicious on Socratean principle (though not easily convinced of conspiracies), we are interested in hearing what he has to say.

He writes:

“The Horizon” was a new floating exploratory rig, recently contracted by BP (British Petroleum) to drill its Macondo prospect in the Gulf. It had finished an exploratory drill hole to around 18,000 feet, and was in the process of capping off the well, prior to moving on, when the rig caught fire on April 20. The capping procedure was reputedly undertaken by oil industry giant Halliburton.

As you might imagine, such an occurrence is an oil company’s worst nightmare, and there are fail-safe measures like you would not believe, to ensure that such a thing as what happened, never happens. There are “deadman switches,” down-hole safety valves, “panic buttons.” and Blow Out Preventers (BOPs).

And yet obviously, something did happen. What—and was it sabotage? How could so many time-tested automatic back-ups fail, all at the same time? What are the odds?

Sabotage is not outside the realm of possibility when trillions of dollars are at stake. The question to ask is: With “climate-gate” throwing a wrench in the works of Cap and Trade, and the (potentially) extremely lucrative carbon-credit market about to go down the drain, were drastic measures taken?

Are there any “movers and shakers” connected with Chicago’s CCX scam, who also happen to be connected to Halliburton, BP, or…well you get the idea. Just asking.

The oil spill after one week covers approximately 130 by 70 miles. What is it going to cover after several months—with thousands of barrels of oil being added each day?

First coal, now oil—I suggest you folks at the nuclear power plants be on your toes.