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Author Topic: Climate Exchanges, Speculators & Hedge Funds  (Read 3528 times)
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WhiskeyGirl
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« on: September 02, 2010, 06:03:45 AM »

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Climate Exchanges: The exhaust trade

Martin Gerth (Düsseldorf) 02.09.2010

Speculators, energy companies and criminals enrich themselves without restraint of CO2 allowances and renewable energy - at the expense of electricity consumers and taxpayers.

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ICE is again firmly in the hands of the large U.S. investment banks like Morgan Stanley and Goldman Sachs, and huge American asset managers, including T. Rowe Price, BlackRock and State Street. Goldman Sachs, Morgan Stanley and JP Morgan also act on the ICE-owned exchanges of emission rights. The U.S. financial institutions earn well in Europe's CO2 allowances. On the other hand, the U.S. has refused to this day to introduce a mandatory emissions trading - also under pressure from influential corporations such as Peabody Coal and Arch Coal.

more here - http://translate.google.com/translate?hl=en&sl=de&tl=en&u=http%3A%2F%2Fwww.wiwo.de%2Ffinanzen%2Fklimaboersen-der-abgas-handel-439615%2F

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The preferred target of hedge funds not only emission rights, but also options for CO2 allowances that allow them to bet with little capital are risky taking. According to a study by the World Bank, the global trade in all CO2 options last year, a volume of eleven billion dollars, with increasing tendency. The bulk of sales, the World Bank is based, not on hedging transactions, but is pure speculation, lies no physical trading of emission rights based.

Hedge funds are suspected of betting with their prices for emission rights in an agreeable direction to drive them. 2009, they are said to have speculated on a price slide. The unease of the growing market for CO2 allowances and derivatives grows on these certificates. The environmental organization Friends of the Earth calls to tighten regulation of financial markets first, before any new speculative CO2 instruments on the market.

Maria Cantwell, Democratic senator of the state of Washington, who heads the energy subcommittee in the U.S. Senate wants to allow only the actual CO2 sinner to trading in emission rights. Financial investors should continue to stay on the outside.For CO2 - Certificates threatened similar risks as in U.S. real estate loans with poor credit ratings.  The technical term for the sub-prime mortgages - and triggered hot in 2007 from the financial crisis.

more here - http://translate.google.com/translate?hl=en&sl=de&tl=en&u=http%3A%2F%2Fwww.wiwo.de%2Ffinanzen%2Fklimaboersen-der-abgas-handel-439615%2F

Killing the middle class, one carbon credit/offset at a time?  For the profit of hedge funds and climate exchanges?

Wouldn't it be cheaper to take the hedge funds/speculators and climate exchange out of the picture?
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WhiskeyGirl
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« Reply #1 on: September 02, 2010, 07:21:45 AM »

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The slowdown has left its traces on the industry. Last month, the Chicago Climate Exchange, the platform for the first cap-and-trade system in North America, was reported to have laid off nearly half of its employees — the exchange refused to confirm numbers — and staff changes and cuts have also been reported on major trading desks.

“For companies that had staffed on the basis that we were a couple of months away from starting really serious trading, they’ve realized they’ve started too soon, which is why they’ve downsized, waiting until something actually happens,” said Henry Derwent, chief executive of the International Emissions Trading Association, an independent, nonprofit organization representing companies involved in carbon trading.


Meanwhile, money still jingles in the pockets on Main Street.

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“We’re seeing more forward thinking toward innovative market development, and the right infrastructure tools to ensure the integrity and transparency of the marketplace,” said Ms. Robinson, of Markit, which is providing credit issuance, registry, transaction and management services for the new exchange.

Is it all about making money?

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The new Singapore Mercantile Exchange, a currency and commodity derivatives  exchange that started live trading at the end of last month, has also been doing some research to develop a carbon credit product. Still, its vice chairman, Mr. Shah of Financial Technologies, said that for any derivative market to succeed, “the standardization of the physical market is essential. At this moment, the standardization in the actual market is not there.”

I think sub-prime mortgages were a product too...

http://www.nytimes.com/2010/09/02/business/energy-environment/02iht-rentrade.html?_r=1&adxnnl=1&src=busln&pagewanted=2&adxnnlx=1283425200-euvA1PoLdiXCyd/VowVUfg

Why should any global citizen make hedge funds, speculators, and traders rich?  All this trading and money making and is anything really cleaner?  Some just seem to be richer.
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #2 on: September 02, 2010, 07:25:50 AM »

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No surprise, because it was Bill Clinton and Al Gore who introduced this scam in 1997 presenting the United Nation's Kyoto Treaty to Congress. They had already rammed NAFTA down America's collective throat, effectively destroying our manufacturing base. Why not completely wreck our economy with a global carbon tax? Kyoto was rejected by Congress mainly because it exempted large countries like China and India because they are classified as "developing" nations. We now see history repeating itself on a smaller scale with this current proposal, as the most populated areas of the state will be exempt from this tax. In 2009 the Democrats tried and failed to get a climate bill passed. So now the globalists are attempting to pass a carbon tax on a state-by-state basis. If the citizens of New Mexico allow this to happen we will find ourselves in a depression. With the economy of the Eddy County so intertwined with the oil and gas industry, it would be economic suicide to enact this tax.


http://**/ci_15968080?source=most_viewed
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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