Nov 14, 2010
Nothing more poignantly reflects the collapse of the great global warming scare than the decision of the Chicago Carbon Exchange, the largest in the world, to stop trading in “carbon” – buying and selling the right of businesses to continue emitting CO2.
A few years back, when the climate scare was still at its height, and it seemed the world might agree the Copenhagen Treaty and the US Congress might pass a “cap and trade” bill, it was claimed that the Chicago Exchange would be at the centre of a global market worth $10 trillion a year, and that “carbon” would be among the most valuable commodities on earth, worth more per ton than most metals. Today, after the collapse of Copenhagen and the cap and trade bill, the carbon price, at five cents a ton, is as low as it can get without being worthless.
Here in Britain, as the first snows fall, heralding what may be our fourth cold winter in a row, it is time we addressed one of the most glaring political “disconnects” in our sadly misgoverned country.
Next Friday is the first anniversary of the leaking of the “Climategate” emails – the correspondence of a small group of scientists at the heart of the UN’s Intergovernmental Panel on Climate Change (IPPC). By exposing their manipulation of data and suppression of dissent, these called their reputation as disinterested scientists seriously into question. But that was only the first in a series of events that, in the past year, saw the climate scare going off the rails.
This article was posted: Sunday, November 14, 2010 at 8:17 am