The “American Power Act”—aka, Cap and Trade was introduced in the Senate last week. Despite the dramatic drop in the percentage of the people that believe we are facing a serious problem regarding man made global warming (AGW), the liberals and their allies are pushing for reduction of CO2 via the use of cap and trade. There are serious questions being raised about who is Cap and Trade going to benefit. If you know who the players are in the primary US cap and trade exchange (CCX), you may have answers to those questions.
Part 1 of this series pointed out that the politicians and the rent-seeking corporations are determined to foist cap and trade on us. The current administration wants this because it is the way to take over the Energy Sector of our Nation’s economy. For those corporations willing to sponsor this legislation, the politicians are carving out positions where these compliant corporations are given an advantage over their competitors. These corporations will boost their profits to the detriment of their competitors and at a cost to the consumers.
Lets look at the people inside and outside the government that are pushing the Cap and Trade system.
Investors.com, lays out the founding of the Chicago Climate Exchange (CCX) and who are the movers and shakers behind it.
The Chicago Climate Exchange (CCX) advertises itself as “North America’s only cap-and-trade system for all six greenhouse gases, with global affiliates and projects worldwide.”
The CCX provides the mechanism in trading the very pollution permits and carbon offsets the administration’s cap-and-trade proposals would impose by government mandate.
The money needed to seed the foundation of the CCX was provided by the Joyce Foundation in 2000 and 2001.
Barack Obama served on the board of the Joyce Foundation from 1994 to 2002 when the CCX startup grants were issued. As president, pushing cap-and-trade is one of his highest priorities. Now isn’t that special?
(the CCX founder) Richard Sandor, says he knew Obama well back in the day when the Joyce Foundation awarded money to the Kellogg Graduate School of Management at Northwestern University, where Sandor was a research professor. Sandor estimates that climate trading could be “a $10 trillion dollar market.”
So lucrative does this market appear, it attracted the attention of London-based Generation Investment Management, which purchased a stake in CCX and is now the fifth-largest shareholder.As we noted last year, Gore is co-founder of Generation Investment Management, which sells carbon offsets of dubious value that let rich polluters continue to pollute with a clear conscience.
Other founders include former Goldman Sachs partner David Blood, as well as Mark Ferguson and Peter Harris, also of Goldman Sachs. In 2006, CCX received a big boost when another investor bought a 10% stake on the prospect of making a great deal of money for itself. That investor was Goldman Sachs, now under the gun for selling financial instruments it knew were doomed to fail.
Prisonplanet adds more about the CCX and its dubious investors and management:
As we have documented, Maurice Strong, who is regularly credited as founding father of the modern environmental movement, serves on the board of directors of The Chicago Climate Exchange (CCX). Strong was a leading initiate of the Earth Summit in the early 90s, where the theory of global warming caused by CO2 generated by human activity was most notably advanced.
By using his considerable wealth and influence to lobby for cap and trade and a tax on CO2 emissions, Strong stood to enrich his company’s coffers to the tune of trillions if a binding agreement on carbon dioxide had been formulated in Copenhagen.
Strong and his close ally Al Gore come from a stable of elite groups that have long sought to use the environmental movement to advance their financial agenda.
Strong, who was groomed by David Rockefeller to eventually serve as Director of the Rockefeller Foundation, is also a member of the Bilderberg Group, the Trilateral Commission, the Council on Foreign Relations and the Club of Rome, the organization who infamously proposed in their 1991 report, The First Global Revolution, that fears about the environment should be exploited in order to usher in a global government.
So President Obama has once again allied himself with some questionable associates. In view of this we can’t help but think that the people that will benefit from cap and trade aren’t likely to be the US citizens.
In upcoming blogs we will look at the cap and trade frauds that have been uncovered in Europe and let some of the rent seeking corporations tell us why they want cap and trade.