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R.I.P.: Al Gore's Chicago Climate Exchange Has Died
Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading... trading imaginary climate benefits for real dollars... -- the only purpose for which it was founded -- this year. Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub of the mandatory carbon trading established by a cap-and-trade ... a government initiative to set limits on carbon emissions that could then be traded for money by the people who designed it ... ... by and for the people who designed it ... law, like the Waxman-Markey scheme passed by the House in June 2009. At its founding in November 2000, it was estimated that the size of CCX's carbon trading market could reach $500 billion. That estimate ballooned over the years to $10 trillion. Posted by: Fred 2010-11-09 |
| http://www.rantburg.com/poparticle.php?ID=309283 |