Global Carbon Trading and Associated ‘Fees’ Were Passed in the Dodd-Frank Financial Reform Bill

Flashback: UN Climate Official Admits Climate Hoax is About Redistributing Wealth Globally

“Climate policy has almost nothing to do anymore with environmental protection”, says the German economist and IPCC official Ottmar Edenhofer. “The next world climate summit in Cancun is actually an economy summit during which the distribution of the world’s resources will be negotiated.”

November 19, 2010

usACTIONnews.com - We’ve been warning you that this is all about money and a political agenda, not about the environment. Now we get confirmation from the IPCC itself.

A Professor of the ‘Economics of Climate Change’, Edenhofer is Co-Chair of Working Group III of the IPCC (Intergovernmental Panel on Climate Change) whose climate report is the political cover for almost all government action on global warming.

Just a year ago the disclosure of thousands of emails known as climategate showed that the information used for the IPCC’s climate report was fraudulent and manipulated to push the unproven theory of man made global warming.

Continuing disclosures of underlying ’studies’ showed that the IPCC did not use peer-reviewed scientific studies, as it claimed, but instead sought and referenced anything supporting its predetermined conclusion. One such ’study’ even turned out to be an opinion article by an environmental activist with no data whatsoever.

In an interview with Germany’s NZZ Online Edenhofer exposed the real purpose behind the climate change scam [red emphasis added]:

NZZ am Sonntag: The new thing about your proposal for a Global Deal is the stress on the importance of development policy for climate policy. Until now, many think of aid when they hear development policies.

Edenhofer: That will change immediately if global emission rights are distributed. If this happens, on a per capita basis, then Africa will be the big winner, and huge amounts of money will flow there. This will have enormous implications for development policy. And it will raise the question if these countries can deal responsibly with so much money at all.

That does not sound anymore like the climate policy that we know.

Edenhofer: Basically it’s a big mistake to discuss climate policy separately from the major themes of globalization. The climate summit in Cancun at the end of the month is not a climate conference, but one of the largest economic conferences since the Second World War. Why? Because we have 11,000 gigatons of carbon in the coal reserves in the soil under our feet – and we must emit only 400 gigatons in the atmosphere if we want to keep the 2-degree target. 11 000 to 400 – there is no getting around the fact that most of the fossil reserves must remain in the soil.

De facto, this means an expropriation of the countries with natural resources. This leads to a very different development from that which has been triggered by development policy.

Edenhofer: First of all, developed countries have basically expropriated the atmosphere of the world community. But one must say clearly that we redistribute de facto the world’s wealth by climate policy. Obviously, the owners of coal and oil will not be enthusiastic about this. One has to free oneself from the illusion that international climate policy is environmental policy. This has almost nothing to do with environmental policy anymore, with problems such as deforestation or the ozone hole.

But unlike the financial crisis, in climate policy a country benefits if it does not join in.

The financial crisis was an emergency operation – in the face of danger we behave more cooperatively. Such a thing will not happen in climate policy, because it will always remain questionable whether a specific event like a flood is a climate phenomenon. But there is always the risk that individual rationality leads to collective stupidity. Therefore, one cannot solve the climate problem alone, but it has to be linked to other problems. There must be penalties and incentives: global CO 2-tariffs and technology transfer.

Just recently we have had the Director of the White House National Economic Council for President Barack Obama teaming up with George Soros to call for global carbon taxes. We had Obama endorsing global taxes on the eve of a UN summit, and as a Senator he introduced a bill, the Global Poverty Act (S 2433), to force U.S. compliance with the UN’s Millennium Development Goals (MDGs) which commits the nations of the world to supporting “innovative financing mechanisms” (global taxes) to supplement foreign aid spending. Obama ally and supporter Richard Trumka the AFL-CIO president is working with European socialists to enact a global financial transaction tax.

Five subcommittee chairman in the US House of Representatives sent a letter to Secretary of State Hillary Clinton urging her to support the global climate tax to be proposed in the upcoming United Nations climate summit in Cancun Mexico. The Hill reports that the letter stated:

“A new global climate fund designed within the [United Nations Framework Convention on Climate Change] with the expertise, independence, and mandate to support developing countries in their efforts to build resilience to climate change and reduce greenhouse gas emissions is a crucial component of addressing the global problem,” it states.

[The] letter from Reps. Eni F.H. Faleomavaega (American Samoa), Brad Sherman (Calif.), Gary Ackerman (N.Y.), Donald Payne (N.J.) and Eliot Engel (N.Y.).

And they don’t really even need congress to make it happen. As we pointed out in a previous editorial the framework for global carbon trading and associated ‘fees’ is already passed in the financial reform monstrosity known as the Dodd-Frank bill:

On page 1,012 Section 750 ‘STUDY ON OVERSIGHT OF CARBON MARKETS’ the bill establishes an ‘INTERAGENCY WORKING GROUP’ which includes the Chairman of the Commodity Futures Trading Commission as Chairman of the group, Secretary of Agriculture, Secretary of Treasury, Chairman of the SEC, Administrator of the EPA, Chairman of the Federal Energy Regulatory Commission, Commissioner of the FTC, and the Administrator of the Energy Information Administration.

The group ‘ shall conduct a study on the oversight of existing and prospective carbon markets to ensure an efficient, secure and transparent carbon market‘.

Section 751 creates the ‘ENERGY AND ENVIRONMENTAL MARKETS ADVISORY COMMITTEE’ and makes said committee not subject to the Federal Advisory Committee Act which says ‘the function of advisory committees should be advisory only, and that all matters under their consideration should be determined, in accordance with law, by the official, agency, or officer involved’ and includes other public safe guards which can be ignored by this committee.

Global regulation and ‘fees’ are also set up in the bill. Section 752 ‘INTERNATIONAL HARMONIZATION’ requires the the Commodity Futures Trading commission, the SEC, and the prudential regulators (as that term is defined in section 1a(39) of the Commodity Exchange Act) to ‘consult and coordinate with foreign regulatory authorities on the establishment of consistent international standards with respect to the regulation (including fees) of swaps, security-based swaps, swap entities, and security-based swap entities and may agree to such information-sharing arrangements as may be deemed to be necessary or appropriate’.

Read the bill here

So be prepared for more money to be taken from the American people with or without congressional approval.

There are many, many people like Professor of ‘Economics of Climate Change’ Edenhofer who have their whole sustenance, purpose and being wrapped up in the climate scam. There are trillions of dollars at stake and thousands of people want a piece of the action.

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