Hopes for carbon hub in jeopardy
The Australian – Full story here. Note who is protesting at the slow delivery of an ETS….
AUSTRALIA’S ambitions to establish itself as an Asian carbon trading hub risk being dashed because of delays in the emissions trading scheme….
This was the assessment of bankers, lawyers and investors yesterday at the second Carbon Markets Expo on the Gold Coast. The expo has experienced a sharp decline in delegates this year, with numbers down from 1200 in its inaugural year to 750…
“As much as people talk about Australia creating a new carbon finance hub, I don’t think it will happen,” said Optim Legal’s Cameron Kelly, a lawyer specialising in carbon markets and credits. “If the CPRS does not get up, we’ll miss the boat.”
So a lawyer is afraid we’ll miss the boat. Which boat? That would be the boat-full of money from Australian workers that’s headed for major international banks, right?
(Isn’t that the kind of boat we would want to catch, but with a tactical nuclear sub and an armed SWAT team?)
Leading international investment banks such as JP Morgan, Merrill Lynch and Nomura, and other investors in the global carbon markets have bypassed the Gold Coast conference in favour of better attended conferences being held in the same week in Singapore and Korea….
The international carbon market in 2008 was valued at $US126 billion ($139bn), but is forecast by analysts such as New Energy Finance to soar to $US1.9 trillion by 2020.
Yes, that market is projected to be big, not just $1.9 trillion though, some say $10 trillion. This is not a point in it’s favor, not for anyone except traders, lawyers and bankers.
Australia’s share of the current global market is less than 0.5 per cent, but Australian emitters are expected to become significant buyers of international carbon credits if and when the ETS is established.
Let’s translate that. Being BUYERS of credits means we are payers for permits. Thus meaningless pieces of paper about air that could-have-had-more-carbon-it-it will come to Australia, while real money that buys real things, leaves. This is not usually the way to run a free market, or a healthy economy. More like lemming economy management. Witness the economic suicide of a whole continent.
Geoff Sinclair, a London-based Australian who heads the carbon market operations for South Africa’s Standard Bank, says Singapore and Hong Kong are taking a more aggressive and proactive attitude to the carbon markets.
“If Australia wants to be a leader or a carbon financial hub, then it must get its act together and do something, such as pass the emissions trading scheme,” he said.
Exactly. If we don’t want to miss out on the chance to fleece the people with a financial system based on science decreed by an unaudited, unelected committee in Geneva — then we’d better let those big bankers in, and give them a guarantee that all Australians will be forced by law to pay for valueless, unauditable, unverifiable permits issued in the third world, in schemes brokered by the largest financial entities in the world.
Quick and hurry! Rush to be slaves to corruption, crime, bullies, bankers, and an international bureaucracy redistributing money to make up for alleged carbon “crimes”. Don’t check the science whatever you do. We trust the IPCC.
Remind me again how many degrees cooler we’ll be if we buy all these “permits”?
So it seems it wasn’t about the science after all. Who could have imagined it?
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I’ve been curious as to what Goldman-Sachs etc will do when Copenhagen falls over. At what point will they walk off? Maybe not right away but the sails will go limp about then. I think Monckton is on the airwaves in the US as I write this throwing grenades into the American psyche, with Obama already on the nose. Payday coming up for us battlers.
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Don’t tell me you don’t BELIEVE. People who don’t BELIEVE would shoot Bambi!!!!
(Loved Godzilla Meets Bambi. Have my own copy!!)
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Oh, yes! Behind closed doors what a “tangled Web They weave”….and this is a “big” Web..The Spiders are going to get even larger because of what money does and can do! As we all know, “money is the “root” of all evil…Greed is one of those supports in the Web. Self indulgence is one of those Spiders that feeds on the greed…Don’t forget what I stated in another thread here, “Closed Minds follow Closed Eyes, with Closed Ears, All has Befallen”…..Great Post Joanne!
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I would like to post this by Glenn Beck from “Fox News”. For those who don’t know him, you “really” need to hear this man! He “cares” for America…for the People of America that cares…He is a out spoken individual but if you knew me so am I. I “shoot” from the Hip. Of course, I’ve learned to a little more “humble” in my statements. Check it out for this is what I believe also what “Our” Government is doing to America…
http://www.foxnews.com/video2/video08.html?maven_referralObject=11136199&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/index.html
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Indeed I would…and have. I have many nice “Bambi” recipes. Or as a friend of mine often says, “I have special place for all God’s creatures…right next to the mashed potatoes.” 😉
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JLKrueger:
AHH yes! And don’t forget the “gravy”..and Stuffing…and Lima Beans…and some Seagrams VO afterwards!
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I’d rather have some “Global banker a la ronge” or maybe some “carbon Trader ficasse”!!!
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Nova sums it up well.
What do the people think?
In a week or so I will have surveyed the Oz demographic to identify, amongst other things, what Aussies really think about AGW and ETS. From peremptory sampling I am guessing that, already, an absolute majority of citizens do not support ETS.
But then this has been the case on just about every Government decision of the past few decades. About 90% of government policies are opposed by around 70-80% of the nation (ignoring media pollster’s manipulated figures).
So when do we finally confront The Great Anomaly… how is this a democracy (government of the people, by the people and for the people) if the people have no say in policy.
Obviously, electoral power died three decades ago, and the question we need to be asking is do we cap this off by handing our future to the banker elite in Copenhagen, trusting them to represent us, or do we take our future back?
This can be achieved quite easily if, when Rudd visits his righteous wrath on we mortals for our climate blasphemy, we issue a Declaration of No Confidence in the Australian Government, and establish a Caretaker Government for the interim. It has been done before and it will no doubt be done again.
From what I hear around the traps, there are plenty of retired and serving public servants who will leap at the chance to restore sane government; and even some former cabinet ministers may wish to lend their dignity.
The hundreds of organisations that make up the Australian Tariff Restoration Bloc are already moving in this direction, but this movement needs to gain momentum. This is a drive that Nova might care to glance at.
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