Capping and Trading for Profit

algore-pollution-money-200By Jack Duckworth

The Washington Times reports that three utilities and two manufactures, Nike Inc. and Apple Inc., resigned from the U.S. Chamber of Commerce because of the chamber’s fight against the proposed “cap-and-trade” legislation (“Backers of climate bill quit chamber,” Page 1, Tuesday).

I worked for the Federal Energy Regulatory Commission and its predecessor, the Federal Power Commission, for 32 years, and that experience taught me that no corporation or utility acts in the interest of the American environmental or social conscience. You can be assured that Nike, Apple and the three utilities want a cap-and-trade bill to pass the House and Senate because it will strengthen their position in the marketplace and increase their profits.

Nike has installed energy-monitoring devices in its manufacturing plants in China and Vietnam in an effort to cut energy consumption. That’s a noble effort, but even if Nike fails to cut its energy consumption, it will not be penalized by a U.S. cap-and-trade law because its energy consumption and its manufacturing take place outside U.S. borders.

Apple is in the same boat with its overseas production. It has undertaken a program to reduce the energy consumption of its finished products, but it will not suffer any impact to its profits due to passage of a cap-and-trade bill.

The three utilities that want to see a cap-and-trade bill passed are PG&E of California, Exelon Corp. of Chicago and PNM Resources Inc. of New Mexico. PG&E has been heavily invested in hydroelectric generation since it came into being and has significant nuclear power generating resources; both of these will be profit boons under a cap-and-trade bill. Eighty-three percent of Exelon’s electric generation resources are nuclear, which will make it a profit king under a cap-and-trade bill. PNM Resources is a 10-percent owner in the Palo Alto nuclear-generating station near Phoenix. All of these corporations have everything to gain and nothing to lose if the cap-and-trade bill becomes law.

Read the rest of this letter at the Washington Times.

  • CCN

    Follow the money and you will find who stands to gain from this disastrous cap and trade legislation. We need to let Congress know that a majority of Americans do not support legislation that will cost us thousands every year and kill millions of jobs. Write your Senators at http://tiny.cc/pxIgi.

  • Tony

    Huh? I wonder how “Rob-N-Hood” will take this news. Large, profit hungry companies that are going “green” now exposed that their true intention is to further gain more profits and reduce competition. Absolutely startling. I guess in this instance I hope those greedy capitalist pigs at Nike, Apple and non-coal utilities fail.

  • paul wenum

    CCN & Tony, I’ve said it before. offshore they go. that’s where the money is if they pass cap & trade. My assumption was right on. Go where the money is. cheap labor without cap & trade restraints. Thank Al Gore and his minions as well as others that buy into and profit from this nonsense. My God, it is cold here tonight! Where’s the palm trees in Minnesota?? There goes the American economy. I assume the Yen will get stronger every day.

  • Neil F. AGWD

    Rob:
    Now this is where you should have posted your rant about capitalism!
    Now I would disagree with you tha this is just capitalism at work here. It’s called fraud, because it is all based on a lie. No different than Bernie Madoff in my book.

  • paul wenum

    Neil, Not to differ but large international corporations with salaries that are approx. 55% of expense to their bottom line will go offshore if it goes to 80% where they don’t make a profit. Call it capitalism or simply logic. It is unfortunately a fact as you and I both agree. I get calls all the time from India representing my primary Bank! Now that ticks me off. Wait until cap & trade passes. They will all claim they are “Martha” calling.

    • Neil F. AGWD

      Paul:
      I’m talking about companies that are making money off of the AGW scare. I agree with you. If a company can’t make a profit, what is the use of being in business? I mean there is nothing wrong with being ultruistic, but why have a business if you can’t grow it, purchase new equipment, or hire more workers? The company I work for has 2 call centers. One in Texas, and one in India. I can always tell the work orders generated from the India call center. They are full of spelling errors and poor word usage. I usually have to call the customer to verify the problem, and make corrections to addresses.

  • paul wenum

    That’s my point exactly. They are going offshore now. Wait until cap & Trade. I’m tired of talking to “Martha” in India. By the way, nothing against the country of India, they have a thriving economy. A very close friend of mine is from Nepal and he is one of the hardest workers and his intelligence is ten times mine. Of course that does not take much. On to refuting this scam to hopefully save our dire economy. We have more pressing issues to address besides this dribble from Gore and Soros et al.

  • monica

    It is about scaring people to make money. Oh the sky is falling!!!!! These people have forgotten there is a God and God will take what is his eventually. These businessmen and women have taken and used up the Land created and didn’t give anything back to God and eventually the housing/construction market had a downfall. Soros, Gore and Obama think they are Gods and want control of how we live. So they want to control the climate to control people. Soros didn’t think much of Jews when he pointed them out to the Nazis, and he isn’t any different today. He doesnt care about people just bout the money.

  • Paul Wenum

    Monica, You are right. It is a scare tactic with no firm scientific knowledge behind it, that is unless you have a grant to carry you through and pay your bills. It’s all about the Money and control. Very simple actually.

  • Rob N. Hood

    “Main Street still owns much of the risk, while Wall Street gets all of the profit.” (Socialized Capitalism)

    The idea of investing in the real economy — the one that might create jobs for Americans — isn’t sexy in America. Credit to small businesses remains tight. The holy capitalist grail is still the speculative buying and selling of companies and the concoction of ever more esoteric financial “instruments.” The tragic tale of Simmons Bedding recently told in The Times is a role model. This successful 133-year-old manufacturing enterprise was flipped seven times in two decades by private equity firms. Investors made more than $750 million in profits even as the pile-up of debt pushed Simmons into bankruptcy, costing a quarter of its loyal workers their jobs so far.

  • Rob N. Hood

    Monica – what about the Republicans. Are they innocent? If so, why do you think that?

  • I think Al Gore, as well as Obama, think they know more than God. I’ll take my chances and let the Lord do his job. You two guys are making
    yourselves look like goons! Get a life, a moral one, please.

  • GLOBAL WARMING IN THIS 1 ASPECT IS FACT (READ FIRST, RESEARCH, TRY TO PROVE ME WRONG).

    I know for that the Al Gore movie regarding global warming is wrong in 9 particular points according to the media reports from England.
    I also know that planet earth as something that is alive, that the ozone layer of this planet in the southern hemisphere was declared dead of March or May of 1993 (Time or U.S. News and World report Cover Story). By surprise that you do research to confirm that most jets fly in what was/is the ozone layer (try research of wickipedia re ozone). By my surprise in the last year that I find that that now we have 400% more ultraviolet sun radiation radiating through the southern hemisphere of this planet than with ozone layer. ASK THE U.S. GOV FOR OR PUBLISH YOUR OWN DATA FOR: (1) THE SPECIFICATIONS OF WHAT % OZONE LAYER EXISTS IN THE NORTHERN HEMISPHERE OF THIS PLANET AND (1.A) THE RATE OF CHANGE PER YEAR; (2) WHAT IS THE EQUIVALENT INCREASE IN WARMING BY ULTRAVIOLET RADIATION (AND (2.1.) OTHER PARTIAL MASSES EMITTED BY THE SUN, THE RANGE OF MASSES EMITTED BY THE SUN IS HUGE) OF (2.A) THE SOUTHERN HEMISPHERE, (2.B) THE NORTHERN HEMISPHERE; AND THE (EQUIVALENT) BTU’S ADSORBED BY THIS PLANET IN TERMS OF (EQUIVALENT) BTU’S PER SQUARE MILE OR SQUARE KILOMETER. THIS IS ONE ASPENT OF GLOBAL WARMING. Why no U.S. Fed data? What web site anywhere in the world to publish this data, U.S. OR any other foreign power, OR BY THE UNITED NATIONS? WHO LIES TO YOUR FACE?
    Suppose ultraviolet radiation (mass, e=mc2) is the most insignificant radiation of mass coming through what was an ozone layer?

    Not an insult, factual different perceptions. Suppose this is the smallest most insignificant picture that one with a Bachelors of Science degree can possibly convey to those who have a Bachelors of Arts degree and has 20% less IQ and may probably never comprehend the whole picture see by one with a Bachelors of Science degree?

  • Paul Wenum

    Eric, Wickipedia??? That was your research? You have a Degree? I strongly suggest that you do further research using reliable sources. I can post anything I want on that site and it is not peer reviewed. Give me a break!

  • Rob N. Hood

    Pauly boy, now you know how I feel when I read all the other crap people post here that sound real scientific, and even extracted from a “scientific” source. The fact remains that if you beleive it is all a hoax it is THE BIGGEST ONE EVER COMMITTED. How is that possible, in reality? Simple answer- it is NOT. Now the science behind it all may indeed be flawed, there is that limited possibility, OR something will occur that will change the current science, but to be so convinced that is it some kind of HUGE worldwide conspiracy simply is not rational or logical. You have been programmed to disbelieve ANYTHING that is Progressive. Luckily for the rest of us, most people seem to be able to avoid that level of brain-washing, thus the election of the first Black president, and other regime changing votes the last election. The problem I have with it all is I don’t trust the Democrats anymore either. The evil Republican agenda of the last three decades (maybe even more) has dragged this country down into the mud and the Democratic party with it. So we the average majoirity need to wake up and work together to fix this mess.

  • paul wenum

    Get off the race card!!!. Half my staff is “black,” and my RIGHT ARM in my office is black! He’s also a Republican!!! You have a problem with that Boy??? Get a life!!!

  • Rob N. Hood

    Pauly Boy, I didn’t accuse YOU of anything? Did I touch a nerve? Fact is MANY Republicans are racist and do dislike and distruct Obama because he’s black. One wonders what you wouldn’t get all indignant about, except for the really important things like the following examle of evil corporate health “care” insurers (and once again you convenitently skipped my main point above, gosh I’m shocked):

    Just when you thought you’d seen all the health-insurance evil possible, now comes another shocker: a UnitedHealth subsidiary in Colorado denied coverage to Peggy Robertson, mother of two, because she wasn’t sterilized after her caesarian-section delivery procedure, according to a letter made public. Almost 1/3 of all deliveries are done by c-section–meaning that in Colorado and likely elsewhere, fertile women are regularly denied coverage unless they agree to sterilize their wombs. This comes after reports that a health insurance company considered rape to also be a “pre-existing condition.” The meaning is clear: America’s health insurance industry hates us all, and they hate fertile women most of all, if only because they represent two detestable Americans in one body.

    • Dan McGrath

      Rob, it would be more accurate to say, “Fact is MANY PEOPLE are racist.” Racism is just as common, if not more so in the Democrat party. In my experience, Republicans, conservatives and libertarians by and large hold the position that people really are equal, should be treated equally by their government and judged by their merits (or content of their character) as individuals, while Democrats tend to advocate policies that imply a belief that some minority groups are naturally inferior and need government guidance, assistance, special treatment in order to succeed. They tend to view racial groups as a class and advocate group rights instead of individual rights. In other words, rights come from being a member of a certain class rather than simply being individual rights. To me, that is racism. Perhaps one could call it “compassionate racism” which I would expect would be degrading, insulting and ultimately represses people.

  • Rob N. Hood

    Get this: in the Smithsonian magazine (August 2009) an article explains the origins of Cap and Trade very precisely, and explains how successful it was regarding the acid rain problem in the 1990’s.. Industry liked it becasue it was a “market place” solution that they had some control over and actually allowed them to profit from if managed properly.

    Turns out it was C. Boyden Gray’s idea, in the 1980’s. Who is he? Well he was as a lawyer in the Ronald Reagan white house. Adn who signed it into law? GHW Bush, when he was president, in 1990. The newest version targeted at Climate Change or Global Warming of course is Al Gore. But he never invented the idea, nor did he ever allude that he did of course. It’s a 20 year old idea, created by and implemented by Republicans. Why? Because it took the power away from environmentalists and gave it back to industry. Plus it worked very well, reduced acid rain to where it no longer was an issue. Global warming was also discussed at the time during the first Bush administration and how Cap and Trade if successful for acid rain might be able to be used for that problem as well.

    Not only that but John Sununnu, the white house chief of staff at the time “was furous” about the plan because it “was going to shut the economy down.” But of course no such thing happened. In fact the benefits of cleaning up acid rain are estimated at $122 billion, and the cost to industry is just 3 billion. The original estimate of the cost to industry was $25 billion.

    So instead of your knee jerk reactions to things you think are some kind of Liberal conspriacy, you shoul, #1 actually research something sufficiently and #2. Be proud of the innovative things the Republicans have done that have turned out successfully- and this is one good example of that, apparently.

    • Neil F. AGWD

      Without having any time to do any research of my own on this, I’ll just throw out my first thoughts here. For one, scale. Cap and trade for NOx and SO2, compared to CO2 trading is comparing apples to oranges. The amounts NOx and SO2 are miniscule to the amounts of CO2 being produced. Secondly the NOx and SO2 were actually causing something bad that nobody disagreed about, acid rain. Where CO2 has not been proven to cause any harm whatsoever, in fact it is a naturally occuring gas that has beneficial effects for vegetation. Nice try Rob, but you do realize that you’re saying Republicans did something good. Right? Which just blows my mind. I will do some research later when I have some time.

  • paul wenum

    Nothing is further from the truth. You as well as the left use the race card quite often. It’s sad actually. As to republican successes and failures, there are many as well as democrats, etc. You seem to be an expert on everything no matter what is posted by the “average person.” Must be nice to be q genius!
    My God, you could make millions with Albert Gore and Soros if you put your mind to it. You would not have to work two jobs any longer. Take care.

  • Rob N. Hood

    Paul, you are so odd. I cited where I got this info, which has nothing to do with me being conceited. I thought you’d be surprised for a change that I did that and instead you go off on some tangent, again. Maybe you could talk about how “Leftist” and/or communist the Smithsonian is, huh? Guy, you aren’t even close to addressing this one.

    And Neil, just as “calling a spade is a spade”, a success is a success. I actually don’t agree with Cap and Trade in it’s most basic form. It is a capitalist solution, but it apparently worked very well for the acid rain problem. I did not say it will work for this problem- but I’m sorry they are similar enough to predict that it could. My solution to these problems is the simplest- tax polluters so they pay for the entire cost of their business rather than soak the tax-payer for the clean-up and other negative repercussions. Why? Because that would be true capitalsim. Why? Because the business would fail if it could not do that, and that is an important part of true capitalsim is it not? Problem is we do not have true capitalism in this country- probably never did. That is part of the on-going propaganda isn’t it? Big business is covered by it’s own form of socialism meaning if they get into trouble the tax-payers (via govt.) bail them out. Too big to fail. But if you or I get into trouble we are on our own, too bad too sad. That is NOT what America should be about and it’s one of the big lies that people need to wake up about.

    • Neil F. AGWD

      Ok whatever you say Rob. Just one question. What are the negative percussions of CO2? I know you will say global warming but just for the sake of argument let’s just say other than global warming. So, what are the negative effects of CO2, other than global warming?
      I also did take a look at some numbers as well, and the maximum emissions of NOx and SO2 in 1982 were something like 17.3 million tons. Which is just a fraction compared to the 60 BILLION tons of anthropogenic CO2 emitted anually. A spade may be a spade, but one of the these spades is from a lego set, and the other is about 30 feet high. So it is a matter of scale as I thought. I also believe CO2 is not pollution, and you do. That is where the disconnect is.
      And here is a suprise. I actually agree with you 100% on your last four sentences. I don’t think any companies should have been bailed out… ever!
      I disagreed with G.W.B. on that one.

  • paul wenum

    Neil, finally we all three agree. Nobody should be bailed out, period. You either succeed or fail.

  • Rob N. Hood

    No, you are putting words in my mouth again, which is lame. I never said CO2 is a pollutant, hardly anybody actually does or has said that in reality. IT IS A GREENHOUSE GAS!!!!!!!!!!!!!!!!! There, ok with that? Good. And… IT IS ONLY ONE OF THE GREENHOUSE GASES, BUT IT IS ONE THAT WE EXACERBATE AS HUMANS AND ONE THAT WE ACTUALLY HAVE SOME CONTROL OVER!!!!!!!!!! So what is it about this that you have a hard time understanding?? And now that the three Stooges actually agree on something I can have my heart attack…

  • paul wenum

    have a heart attack, Cows fart! So do deer and all species that live off the land. They eat grass,grains etc. that need C02!!! It happens naturally!!!, or am I missing something called normal life???

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