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Old 06-30-2009, 03:30 PM   #1
Seashore
Avalon Senior Member
 
Join Date: Nov 2008
Posts: 3,564
Default Cap and Trade

I am in the process of piecing together an understanding of what is going on right now with the "Climate Bill" which just passed in the U.S. House and is likely to pass in the Senate.

I am listening to Alan Watt's June 29, 2009 radio talk. He links to this article entitled "Obama’s involvement in Chicago Climate Exchange--the rest of the story."

It sounds to me that this Chicago Climate Exchange can exactly be compared to the Federal Reserve. It's private. And tax money will fund it.

I'm saying this because cap and trade by my understanding is a system to reduce carbon emissions by companies, but since the taxpayer is now responsible for the obligations of companies, in essence, the Climate Bill, if enacted, is going to create another Federal Reserve type set-up.

How do the rest of you see it?
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