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.
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 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.
Al Capone tried to use Prohibition to muscle in on a piece of all the action in Chicago. The CCX’s backers wanted to use a new prohibition on carbon emissions to muscle in on a piece of, quite literally, all the action in the world.
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 CCX seemed to have a lock on success. Not only was a young Barack Obama a board member of the Joyce Foundation that funded the fledgling CCX, but over the years it attracted such big name climate investors as Goldman Sachs and Al Gore’s Generation Investment Management.
Read More: by Steve Milloy, Pajamas Media
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dont be too sure these criminals are done!! today pinnochio has stated taht the EPA will take over and back door cap & trade in by the EPA ruling that co2 is a pollutant and needs to be regulated!! thus there wealth grabbing scheme by soros, al gore, goldman sachs, rothchilds, rockefellers and others to sell carbon credits to the WORLD is still in the offering, they just need to repackage it and create another vehicle to use to steal our money!!!!
Yes… they have billions invested… just laying down is not on the table. The guy that wrote the software to sell and trade 'air'… tried to get a patent for years, he dies un-naturally and the next day the software receives a patent and algore and ex goldman executives start the CCX. hmmmm.
I have been writing all the congress loons telling them for every penny, dime and dollar my energy costs go up because of this cap-n-tax B.S.I will deduct same amount from my taxes. I urge everybody to do the same.
Good, another nail in their coffin.
CCX and Cap & Trade ….. Enormous Scam ! Obama, the Clintons, Gore, Valerie Jarrett, and others had their hands dirty and all over this !! Thank God for those disclosed Climate Gate emails, the Tea Party and a new Congress.