Al Gore’s Chicago Climate Exchange closes down carbon trading operations
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 – the only purpose for which it was founded – this year.
Al owned 10%
Goldman Sachs 10%
Big business began pulling out after midterm elections.
I sure hope Gore and all of Obama's buddies at Goldman lost a fortune on that one. Wonder if Soros had some skin in the game? Hasn't been a good month for him.
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.
The CCX was the brainchild of Northwestern University business professor Richard Sandor, who used $1.1 million in grants from the Chicago-based left-wing Joyce Foundation to launch the CCX. For his efforts, Time named Sandor as one of its Heroes of the Planet in 2002 and one of its Heroes of the Environment in 2007.
The fight is still on for the lame duck on a carbon tax though.
We aren't out of the woods yet. But making great progress!
R.I.P.: Al Gore’s Chicago Climate Exchange Has Died - By Greg Pollowitz - Planet Gore - National Review Online
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 – the only purpose for which it was founded – this year.
Al owned 10%
Goldman Sachs 10%
Big business began pulling out after midterm elections.
I sure hope Gore and all of Obama's buddies at Goldman lost a fortune on that one. Wonder if Soros had some skin in the game? Hasn't been a good month for him.
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.
The CCX was the brainchild of Northwestern University business professor Richard Sandor, who used $1.1 million in grants from the Chicago-based left-wing Joyce Foundation to launch the CCX. For his efforts, Time named Sandor as one of its Heroes of the Planet in 2002 and one of its Heroes of the Environment in 2007.
The fight is still on for the lame duck on a carbon tax though.
We aren't out of the woods yet. But making great progress!
R.I.P.: Al Gore’s Chicago Climate Exchange Has Died - By Greg Pollowitz - Planet Gore - National Review Online
