"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Friday, January 05, 2007

Carbon Black Hole gets bigger ...deeper ....

The price for carbon closed last night 04 January 2007 at €4.88 - (remember it was in excess of €30 in April 2006!) a further collapse in this fantasy market - is lost on the Environment Minister Ian Pearson who upbraided Ryanair in a Guradian interview as "Ryanair are not just the unacceptable face of capitalism, they are the irresponsible face of capitalism" and also called it's founder and chief pilot the small, tallented but perfectly formed (and recently married) Michael O'Leary, as "completely off the wall" ... which anybody who can inspect his bank balance can see is evidently nonsense.

Carbon is released from fossil fuels, oil, gas, coal into the atmosphere, it with many other factors affects, the global climate, which is currently warming ever so slightly.

If you want to cut carbon emissions. Simply stop burning fossil fuels.... carbon trading does nothing of the sort .... it is merely a casino which enriches the financiers and their henchemen, accountnats, lawyers, money jugglers who designed it .... dazzling stupid politicians on the way, like Mr Pearson and his even dimmer predecessor Margaret Beckett.

There is another scheme that the politicians love called Renewable Obligation Certificates (ROC's) which have put £1 Bn in the City's pockets to produce, so far, some 220 Mw of electricity from wind energy in the UK = roughly half the capacity of one of the nuclear reactors (480Mw) just closed down at Sizewell and Dungeness.... not forgetting Siemens (one of the world's largest engineering companies) getting £10.4 Mn of Lottery money to help build Burbo Bank off Liverpool.

No comments:

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish