Someone in the past day or two....finally started asking questions about the structure of the President’s “cap-and-trade” carbon reduction scheme.
They finally realized that back in 2000 and 2001, while Barack Obama served as a board member for a Chicago-based charity; he came up and apparently helped to fund a brand new carbon trading exchange. The amusing thing is that its the same exchange that plays a key part in this entire plan in 2009.
Thanks to the Joyce Foundation....and community organizer Obama....almost $1.1 million in two separate grants that were utilized in developing and starting the Chicago Climate Exchange. And in case you wondered....this exchange does call itself "North America's only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide."
The amusing part of this entire deal....is that the President of the Joyce Foundation in 2000, where this Chicago Climate Exchange started.....was Paula DiPerna.
Guess where Paula is today? She is now executive vice president of the Chicago Climate Exchange, in charge of corporate recruitment and public policy, as well as president of CCX International.
Now....the next question you should ask....how much money are we talking here? The answer.....as best as the experts can figure....$2 trillion over eight years. Naturally, this is three times more than the originally projected cost, was given in a White House briefing to Senate staffers last week and reported by US News and World Report and the Washington Times.
The chances now of this scheme continuing forward? Well....since this bit of news has come out....it’ll naturally trigger some folks into asking stupid questions.
Adding to this....is the fact that 28 U.S. Senators, including West Virginia's Robert Byrd and Michigan's Carl Levin, both Democrats, who apparently have issues. Between the two of them....there promises to be a filibuster in Congress over the entire mess.
From the very beginning of discussion over ‘cap-and-trade’....you had to move forward with some organization playing the middleman.....which is where you need to focus your attention. The middleman is the one that rakes in the cost and arranges the numbers. The second factor....if you haven’t paid attention....is who arranges the data. Most of this data is not absolute....so you have to blend in various factors and come to an imaginary number....which is used to refloat the market each and every day. A true market in the carbon scheme....would then balance in a volcanic eruption when it occurs....and then rebalanced the numbers by tomorrow morning....but as you might imagine...this will never occur.