Man-made Global Warming Scam is About Creating Climate Billionaires Via Carbon Trading Schemes While Lowering the Standard of Living of Everyone Else
United Nations 'Green Climate Fund,' Which Taxpayers of Developed Countries Are Forced to Fund, Goes Directly into Private Equity Funds of the Financial Elite to Create Climate Billionaires Like Gore and Obama — Poor People of Undeveloped Countries Will Never Reap the Benefit
The people behind this scam are not altruistic environmentalists. They are financiers, investment banks and hedge funds. There is already a Carbon Credit Futures market, carbon credit trading exchanges in European (ECX) and in Chicago (CCX), and carbon credit
derivatives products.
Sound familiar? This is all about creating billions of dollars, quite literally, out of thin air, based up on a hoax, sold to us by world luminaries and super salesmen like Al Gore, who of course has invested heavily in all things to do with climate change, and is flying around the world in his private jet, peddling his wares. He is set to become the world’s first carbon billionaire, and if the “business” of carbon trading continues expanding, there will be many more to follow. Al Gore is chairman of Generation Investment Management (GIM). David Blood, the former chief executive of Goldman Sachs Asset Management, is the CEO. But the bottom line is that GIM is about making money. GIM owns a 10 percent stake in the Chicago Climate Exchange, and the Chicago Climate Exchange owns half of the European Climate Exchange. So if the United States and Europe adopt a government-enforced "cap and trade" carbon credit trading scheme, Al Gore and his fellow investors will rake in billions of dollars. The
man-made global warming scare is the
greatest scientific fraud in the history of mankind, and its associated
carbon credit trading scam is the greatest hustle.
[
Source]
Goldman Sachs owns a 10 percent stake in the Chicago Climate Exchange, where the carbon credits will be traded. Moreover, Goldman owns a minority stake in Blue Source LLC, a Utah-based firm that sells carbon credits of the type that will be in great demand if the bill passes. Nobel Prize winner Al Gore, who is intimately involved with the planning of cap-and-trade, started up a company called Generation Investment Management with three former bigwigs from Goldman Sachs Asset Management, David Blood, Mark Ferguson and Peter Harris. Their business? Investing in carbon offsets. There's also a $500 million Green Growth Fund set up by a Goldmanite to invest in greentech … the list goes on and on.
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...
The Canadian born Strong is little
known in the United States. That’s because he spends most of his time in
China where he he has been working to make the communist country the
world’s next superpower. The nondescript Strong, nonetheless is the big
cheese in the underworld of climate change and is one of the main
architects of the failing Kyoto Protocol...
These are the leaders
in the Man-made Global Warming Movement... It may be interesting to
note that the Chicago Climate Exchange in spite of its hype, is a
veritable rat’s nest of cronyism. The largest shareholder in the
Exchange is Goldman Sachs. Chicago Mayor Richard M. Daley is its
honorary chairman, The Joyce Foundation, which funded the Exchange also
funded money for John Ayers’ Chicago School Initiatives. John is the
brother of William Ayers...
Even as man-made global warming is
being exposed as a money-generating hoax, Obama is working feverishly to
push the controversial cap-and-trade carbon reduction scheme through
Congress. Obama was never the character he created for himself in the
fairy-tale version in “Dreams of My Father”. He’s the agent of Change
and Hope for cohorts making money down at the Chicago Climate Exchange.
The
Barbarians are pushing at the gate of the Global Warming fraud, and to
borrow a line from children playing Hide and Seek, Here they come, ready
or not!
Strong is on the Chicago Climate Exchange board of directors. The CCX “is North America’s only and the world’s first global marketplace for integrating voluntary legally binding emissions reductions with emissions trading and offsets for all six greenhouse gases.”
The more global warming gets hyped, once again by Al Gore, the more green technology is worth. So while Strong may be “a socialist in ideology,” he is definitely a “capitalist in methodology.”
Strong, the architect of the Kyoto Accord, has made millions off of environmentalism, but still finds himself unable to pull America into the snare. But he has a plan for that also.
In 2006, he described what he thought was necessary to keep the green movement alive… fear.
Maurice Strong would not shed a tear at the collapse of the American economy or our way of life. He has
stated before
that “current lifestyles and consumption patterns of the affluent
middle class involving high meat intake, consumption of large amounts of
frozen and convenience foods,
use of fossil fuels, appliances, home and
work-place air conditioning,
and suburban housing are not sustainable. A
shift is necessary toward
lifestyles less geared to environmentally
damaging consumption patterns.”
In other words, the demise of the
American way of life is necessary for the survival of the Earth. This
perspective poses little threat from a normal environmentalist. In the
hands of the “Michelangelo of networking,” “an international traveling
salesman with buts [sic] of paper in his pocket” and “a cross between
Rasputin and Machiavelli,” it is an all too real threat to America.
Carbon tax schemes are predicated on the illusion of anthropogenic climate change.
Man-made carbon dioxide emissions throughout human history,
however, constitute less than 0.00022 percent of the total naturally
emitted from the mantle of the earth during geological history.
Significant changes in climate have continually occurred throughout
geologic time. A large body of scientific research — including a NASA
study — suggests that the sun is responsible for the greater share of
climate change during the past hundred years, not humans.
Trading carbon credits in carbon markets is the newest investment
scheme. Energy traders and Wall Street financiers are at the heart of
this scheme. The Chicago Climate Exchange (a carbon trading exchange),
which includes some 400 companies, is now the largest cap-and-trade
market in the world. The largest shareholder in the Exchange is
Goldman Sachs.
While on the board of the Chicago-based Joyce Foundation, Barack Obama
helped fund the Chicago Climate Exchange, which will likely play a
critical role in the
cap-and-trade carbon reduction program he has
pushed through Congress as president. In 2000 and 2001, while still a
state senator, Obama voted along with other members of the board of the
Joyce Foundation to give more than $1.1 million to help the Climate
Exchange get off the ground.
The “privately-owned” Chicago Climate Exchange is heavily influenced by
Al Gore and Maurice Strong. For years now, Gore and Strong have been
cashing in on lucrative carbon trading schemes. [
Maurice Strong is known as the “
Godfather of the international environmental movement” and the “
architect of the Kyoto Protocol.” Both of those are ironic titles for a man who started out in the oil business.]
Gore 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.
Strong is on the board of directors of the Chicago Climate Exchange,
Wikipedia-described as “the world’s first, and North America’s only, cap
and trade system for all six greenhouse gases, with global affiliates
and projects worldwide.” Strong, the silent partner (the Canadian-born
Strong is little known in the United States), is a former Secretary
General of the 1992 United Nations Conference on Environment and
Development (the much hyped Rio Earth Summit) and Under-Secretary
General of the United Nations in the days of an Oil-for-Food beleaguered
Kofi Annan. He spends most of his time in China where he has been
working to make the communist country the world’s next superpower. The
nondescript Strong, nonetheless, is the big cheese in the underworld of
climate change and is one of the main architects of the Kyoto Protocol.
The Climate Exchange is the brainchild of Richard Sandor, an economics
professor who has worked for both the Chicago Mercantile Association and
the Chicago Board of Trade. Known as "Mr. Derivative" for his work in
creating interest rate futures markets, Sandor first proposed the
creation of the Climate Exchange in 2000, just before the signing of the
Kyoto Accord on greenhouse gas reduction. The United States
subsequently refused to participate in the accords.
Speaking at the
State of Green Business Forum in Chicago in 2010, Sandor urged the
attendees to do whatever they could to push for a national cap-and-trade
program. After giving a quick history of where value creation for
businesses came from in past decades, he said that the next big area for
value creation will be in the commoditization of air and water -- they
will be made commodities through cap and trade (see the video, "The
Story of Cap and Trade," https://www.youtube.com/watch?v=ZYi78LaY8u4).
In the case of carbon, that would set quotas for carbon emissions, and
those who exceed their quotas can trade those extra cuts to those that
are unable to use their own quotas.
Globally, the number of CDM projects (UN-backed clean development
mechanism) entering the pipeline is increasing rapidly. The onset of a
carbon tax is already underway in numerous countries (the World Bank
will be the collection agency for a global CO2 tax). In January 2005, a
new system of CO2 emissions trading went into effect in the European
Union. David Miliband, the UK's environment secretary, announced that
Britain would become the world's first nation to legislate a climate
change bill setting legally binding timetables for a low-carbon economy.
This decision affects every British industry, business and household.
Britain's former prime minister, Gordon Brown, said:
"My ambition is to
build a global carbon market founded on the EU emissions trading scheme
and centered in London."
Every citizen would be issued a carbon "credit
card" or "ration card" — to be swiped every time they buy petrol, pay an
energy utility bill, or book an airline ticket — under a nationwide
carbon rationing scheme (according to a feasibility study commissioned
by Miliband).
Under the scheme, everybody would be given an annual
allowance of the carbon they could expend on a range of products,
probably food, energy and travel. If they wanted to use more carbon,
they would be able to buy it from somebody else on a carbon exchange. In
the future, each person will start the year with 1,000 carbon credits,
for example, on a carbon ration card. Personal carbon rations would
cover everyone’s direct use of energy in the household and for personal
transport, including air travel. Each time someone fills up their car,
for example, they would put the card in a slot on the pump and it will
deduct a few points.
The main features of personal carbon rations are:
- An equal annual ration is allocated for each adult, with a smaller one for children.
- Rations are tradable.
- The ration covers the direct energy used in the household and for personal travel.
- A phased year-on-year reducing ration is signaled well in advance.
- The arrangement is mandatory (in order to be effective, carbon rationing would have to be mandatory, just like Obamacare)
From the document, "Kyoto Chip - Awareness raising of personal CO2":
"There is no easy technical way to deal with CO2. The best way to reduce
it and the other emissions is to use the car only when it is necessary
and to cycle, walk or use public transport where possible. Personal
awareness is the other path to follow. It is obvious that not only the
choice of which vehicle and its fuel efficiency is important, but also
how much use is made of the vehicle.
"The approach suggested in this document aims at creating even greater
awareness and an active personal involvement by individual European
citizens in their personal level of CO2 emission. Once every driver
knows their annual allowance, and how much their vehicle uses, then they
can make much better choices about the trips they make and which mode
they choose to make them.
"Part of this is already done in the UK where the annual ‘road tax’ is
based on the CO2 emissions of the vehicle you own. We believe that the
next logical step is to empower citizens by giving them the knowledge
and possibility to make a real change based on their choices and
behavior.
"The ’Kyoto Chip’ is about CO2 rationing on a personal level and --
doing so- - raising more awareness about personal CO2 use. David
Miliband, the UK environment secretary, is keen to set up a pilot scheme
to test the idea, and has asked officials from four government
departments to report on how it could be done. The move marks the first serious step towards state-enforced limits on the carbon use of individuals, which scientists say may be necessary in the fight against climate change."
"It extends the principle of carbon trading -- already in place
between heavy polluters such as power companies and steel makers -- to
consumers, with heavy carbon users forced to buy unused allowances from people with greener lifestyles."
http://www.velomondial.net/page_display.asp?pid=29
January 10, 2009
Daniel Taylor, Old-Thinker News - The
media is hailing Exxon Mobil's announcement in favor of carbon tax
proposals as a shocking, unbelievable move. But is it really that
surprising?
Could well
meaning environmentalists be in for a shock to find that a seemingly
"grass roots" movement has from the beginning been initiated from the
top down?
As the
Calgary Herald reports:
"Exxonmobil
Corp., the world's largest crude oil refiner, supports taxing carbon
dioxide as the most efficient way of curbing greenhouse gas emissions, its chief executive said."
The
announcement came from Rex Tillerson, CEO of Exxon Mobil, speaking at
the Woodrow Wilson international center for scholars in Washington,
which has served as a platform for discussing various
globalist initiatives for many years. That Tillerson would make this announcement is interesting, due to the fact that the
Rockefeller family, who built Standard Oil [
Standard Oil of New York later became Mobil, a predecessor to Exxon/Mobil]
,
recently identified him as "resistant" to "...take the threat of global
warming more seriously." Are we to accept this story? Was there any
real resistance in the first place?
A May 2008 article from the International Herald Tribune painted a glowing picture of the Rockefeller family in their quest to "press for change at Exxon." As reported:
David Rockefeller, retired chairman of Chase Manhattan Bank and patriarch of the family, issued a statement saying, "I support my family's efforts to sharpen Exxon Mobil's focus on the environmental crisis facing all of us."
The Rockefeller family has held a very special interest in environmental matters for decades. Population control and reduction is a central directive of many Rockefeller initiatives. The recent focus on global warming is no different. Steven Rockefeller's Earth Charter is an example.
There are countless real environmental issues
such as genetically engineered organisms being released into the
environment causing unknown mutations, consuming potentially dangerous
cloned animal products, mass honey-bee die offs, etc.
However, global warming was identified by the Club of Rome's 1991 report The First Global Revolution as a unifier to funnel the energy of citizens and businesses alike into supporting globalist initiatives. The report states:
"In
searching for a new enemy to unite us, we came up with the idea that
pollution, the threat of global warming, water shortages, famine and the
like would fit the bill... All these dangers are caused by human intervention... The real enemy, then, is humanity itself."
Many of the "green" proposals to fight global warming will have a direct impact on your standard of living. Obama has admitted that sending "price signals" to change behavior is an option.
Obama stated during a 2007 PBS interview:
"We're gonna have to cap the emission of greenhouse gasses. That means the power plants are gonna have to adjust how they generate power. They will pass on those costs to consumers."
April 26, 2010
Glenn Beck, Fox News - Cap-and-trade: what is it? It’s the trading of puffs of air. Company
A pollutes more than Company B. Company A must pay a fine, which is
transferred to Company B, who earns a credit. The companies continue to
pollute the exact same way, it just costs Company A more and Company B
gets rewarded.
If I am going to build this into an industry, I need a to-do list:
• First we have to put together a carbon exchange:
While Obama was on the Joyce Foundation board, the group steered $1.1
million in grants instrumental in d
eveloping and launching the
privately-owned Chicago Climate Exchange.
• Now we need investors:
Al Gore’s company — Generation Investment Management — is the fifth
largest shareholder in the
Chicago Climate Exchange. Gore’s company has
several former Goldman employees on the roster.
Then
Goldman Sachs steps to the plate and buys 10 percent of the combined company.
• Next we need the technology:
Fannie Mae, under the leadership of the Franklin Raines, purchases
patent on system to trade residential carbon credits that was described
as "how carbon and other pollutants yet to be determined" would be
"combined into a single emissions pool" and traded — just as Fannie’s
toxic portfolio of subprime mortgages were. It appears Raines wasn’t
content with destroying only the housing market.
So you have the same crooked people who have contributed to the
financial meltdown — Goldman, Fannie, socialists and out and out crooks —
actually trying to "fix" the economy and the environment and, oh boy,
believe me the fix is in.
• Now we need the law:
Well, the law is cap-and-trade.
Remember when cap-and-trade was
supposed to happen right after health care? Well, immigration has
Congress’ attention now, so let’s skip ahead to:
• The cover:
Al Gore has been pushing cap-and-trade for quite some time. Obama has
been pushing it as well. Many on the progressive left want it. Why? If
it’s about the environment, cap-and-trade is a proven failure. It’s been
tried it in Europe: failure.
Now, a voluntary system — the Chicago
Climate Exchange — is tanking. Why? Because you can’t get people to
voluntarily buy air, when there’s plenty of air to go around. It’s scam.
It’s like being at the beach and selling people a bucket of saltwater.
I’m three steps away from the ocean — it’s free.
The entire green movement can’t stand on its own two feet and the
only time anything green ever gets money is when it comes from
government. Even some of the top scientists who believe in global
warming say this won’t do anything to stop companies from polluting.
They’ll just be paying a little more for it and
companies like Enron
were scheming to make money off of it — they even lobbied for
cap-and-trade.
Some of the eco groups don’t even do what they promise.
The Vatican
found this out when they became "carbon neutral," but not one tree was
planted in Hungary’s so-called "Vatican forest" for offsets. Who scams
the pope? You want to know about warming? I got "eternal warming" for
you.
So the question is:
Why is it still being pushed? The redistribution of wealth and to enrich the corrupt.
We did a little digging and followed the money and the answers tell a
familiar story. And before we get going on this, I just want to warn
you:
If there’s one thing I’m learning about progressives, they really
like creating groups. They’ve got tons of them and it seems they just
pass the money from one to the next. It’s almost like money laundering.
It’s why health care can pass: You don’t know what the hell anyone is
talking about and everyone always sounds so happy. Words and names of
groups mean nothing. Unfortunately for them, people’s faces still
matter. We know them by reputation.
"Crime, Inc." nest of communists:
The Crime Ring Combines the White House, Goldman Sachs,
Obama,
Al Gore,
Emerald Cities Collaborative,
Chicago Climate Exchange (CCX),
George Soros,
Valerie Jarrett,
Goldman Sachs,
Center for American Progress,
Franklin Raines,
Gerry Hudson,
SEIU,
Van Jones,
AFL-CIO,
ACORN,
Green for All,
Fannie Mae,
Enterprise Community Partners,
Art Lujan,
Jack Hayn,
Andy Stern,
Phaedra Ellis Lamkins,
Joyce Foundation,
Livable Cities Initiative and "The Wizard":
New Party and
Apollo Alliance Founder,
Joel Rogers.
The crime ring is robbing us blind. The financial bill
will give the FTC new control over the Internet!?! Study the CCX members
closely.
There are mega companies involved in the international global
warming scam.
[There is] an entrenched evil currently running the planet into an
abyss. Yes, there is obvious desperation in their moves of late. But the
game just seems to continue — ad nauseam — the people who have
sheltered and protected the
Khazar Banksters while impoverishing the
middle class by exporting the American economy and industry based on
unending warfare production. Those huge off shore accounts of the ill
gotten gains of secret congressional accounts have not been tapped and
returned; after all, it is the Rothrocks and the devil agency “Goldman
Sucks” that are still running our Wall Steet “Dog and Pony” shows. I
still get ridiculed for telling people to really think about the
travesty of 9-11 and what it has cost them in terms of freedom. I really
want to believe the Bens of this world. The fact that legislation was
passed by a majority tells me that these people are either paid for,
believe they are part of the 1%, or are afraid to stand up for the
common good because they have been threatened with something. We know
that the world is run by an unworthy gang of misanthropic inbred elites
and their lackey minions. And, yet, through their spoils (and the
spoiled), they have amassed great treasure that has no real value. Their
moral compass is broken; their political capital is zero; their fiat
currency is worthless; and their method of rule has become comical.
These thespian thieves have now been pushed toward the gates of the
temple to be whipped into the desert of their own creation…” [
Source]
March 22, 2012
FOX News - The Green Climate Fund, which is supposed to help mobilize as
much as $100 billion a year to lower global greenhouse gases, is
seeking a broad blanket of UN-style immunity that would shield its
operations from any kind of legal process, including civil and criminal
prosecution, in the countries where it operates.
There is just one problem: it is not part of the United Nations.
Whether the fund, which was formally created at a UN climate conference
in Durban, South Africa last December, will get all the money it wants
to spend is open to question in an era of economic slowdown and fiscal
austerity.
Its spending goal comes atop some $30 billion in "fast start-up" money
that has been pledged by UN member states to such climate change
activities.
A 24-nation interim board of trustees for the Green Climate Fund (GCF)
is slated to hold its first meeting next month in Switzerland to
organize the fund's secretariat and to get it running by November, as
well as find a permanent home for the GCF's operations.
The board expects to spend about $6.7 million between now and June of next year.
But before it is fully operational, the GCF's creators -- 194 countries
that belong to the United Nations Framework Convention on Climate Change
(UNFCCC) -- want it to be immune from legal challenges and lawsuits,
not to mention outside inspections, much like the United Nations itself
cannot be affected by decisions rendered by a sovereign nation's
government or judicial system.
Despite its name, the UNFCCC was informed in 2006 by the United Nations
Office of Legal Affairs that it was not considered a UN "organ," and
therefore could not claim immunity for its subordinate bodies or
personnel under the General Convention that has authorized UN immunity
since the end of World War II.
A UNFCCC resolution granting similar immunities would need to be
"accepted, approved or ratified" by each individual member of the Kyoto
Protocol before it took effect, the UN legal office advised.
Even if UNFCCC members decided to ask the UN General Assembly to grant
them similar immunity it would require each UN member state to make
changes in domestic legislation, the opinion declared.
According to an official of the US Treasury, which strongly supports the
existence of the GCF, the full extent of the immunities still remains
to be worked out by the fund board, although the wording of various
UNFCCC resolutions indicate that immunities like those held by the UN
are clearly envisaged.
November 14, 2014
Reuters - President Barack Obama on
Friday pledged a $3 billion U.S. contribution to an international fund
to help poor countries cope with the effects of climate change, putting
the issue front and center of the G20 Leaders Summit in Australia.
The large size of the contribution took climate policy
watchers by surprise and doubles what other countries had previously
pledged ahead of a Nov. 20 deadline. It would be the second major move
on climate change taken by Obama after big Democratic losses in last
week's midterm elections.
"Along with other nations that have pledged support, we’ll
help vulnerable communities with early-warning systems, stronger
defenses against storm surges, and climate-resilient infrastructure,"
Obama said in remarks ahead of the official opening of the G20 summit.
"We’ll help farmers plant more durable crops. We’ll help
developing economies reduce their carbon pollution and invest in clean
energy."
The timing of the announcement was seen
as putting pressure Australian Prime Minister Tony Abbott, who is
hosting the summit and once described climate science as "absolute
crap". Abbott had hoped the G20 summit would focus on growth and jobs.
"When most
nations are saying we have to finance climate change responses, whatever
Australia desires, it has to agree or it risks looking like the spoiler
at what should be Australia's moment," Tim Costello, the head of World
Vision Australia and the C20, or Civil Society 20, told Reuters.
Highlighting Australia's exposure to climate change, Obama said longer droughts and more wildfires were likely.
"The incredible natural glory of the Great Barrier Reef is
threatened. Worldwide this past summer was the hottest on record. No
nation is immune and every nation has a responsibility to do its part."
The Green Climate Fund will work with private sector
investment and help spur global markets in clean energy technologies,
creating opportunities for entrepreneurs and manufacturers including
those from the United States.
"The fund will be able to deploy innovative instruments.
That is the key distinguishing characteristic of the GCF; it has the
opportunity to mobilize significant flows of private capital," Abyd
Karmali, managing director of climate finance at Bank of America Merrill
Lynch.
Rich
countries had pledged in 2009 to mobilize $100 billion a year by 2020 to
help developing countries tackle carbon emissions.
Earlier this week, Obama announced a climate deal with
China. The United States will strive to cut total greenhouse emissions
by about 25 percent by 2025, while China will aim for a peak in
greenhouse gas emissions by 2030.
In the run-up to the global climate talks in Paris next
year, developing nations view finance as a vital part of any deal.
Hela Cheikhrouhou, executive director of the fund, lauded
the U.S. pledge as a game-changer.
"It could have a domino effect on
all other contributions," she said.
The U.S. pledge roughly doubles the $3 billion already
promised for the fund, which will hold a first donors' meeting in Berlin
on Thursday.
Germany and France had earlier pledged $1 billion each, and Mexico,
South Korea, Japan and others have pledged smaller amounts.
The UN has set an informal goal of raising $10 billion for
the fund before a meeting of environment ministers in Peru, next month.
Developing nations have been urging $15 billion.
Some environmentalists were unimpressed by the pledge.
Friends of the Earth said $3 billion "falls magnitudes below what is
actually needed by developing countries."
July 2, 2009
Matt Taibbi, Rolling Stone -
Goldman Sachs started pushing hard
for cap-and-trade long ago, but things really ramped up in 2008 when
the firm spent $3.5 million to lobby climate issues. (One of their lobbyists at the time was none other than Patterson, now Treasury chief of staff.)
Back
in 2005, when Hank Paulson was chief of Goldman, he personally helped
author the bank's environmental policy, a document that contains some
surprising elements for a firm that in all other areas has been
consistently opposed to any sort of government regulation. Paulson's report argued that "voluntary action alone cannot solve the climate change problem."
A
few years later, the bank's carbon chief, Ken Newcombe,
insisted that
cap-and-trade alone won't be enough to fix the climate problem and
called for further PUBLIC INVESTMENTS in research and development. Which
is convenient,
considering that Goldman made early investments in wind
power (it bought a subsidiary called Horizon Wind Energy), renewable
diesel (it is an investor in a firm called Changing World Technologies),
and solar power (it partnered with BP Solar), exactly the kind of deals
that will prosper if the government forces energy producers to use
cleaner energy.
As Paulson said at the time,
"We're not making those investments to lose money."
Goldman owns a 10 percent stake in the Chicago Climate Exchange, where the carbon credits will be traded. Moreover,
Goldman owns a minority stake in
Blue Source LLC, a Utah-based firm that
sells carbon credits of the type that
will be in great demand if the bill passes.
Nobel
Prize winner Al Gore, who is intimately involved with the planning of
cap-and-trade, started up a company called Generation Investment
Management with three former bigwigs from Goldman Sachs Asset Management, David Blood, Mark Ferguson and Peter Harris.
Their business? Investing in carbon offsets.
There's also a $500 million
Green Growth Fund set up by a Goldmanite to invest in greentech …
the list goes on and on.
Goldman
is ahead of the headlines again, just waiting for someone to make it
rain in the right spot. Will this market be bigger than the energy
futures market?
Related: