- Set nests of cockroaches into every last detail of American life and the country will of course come to a screeching halt engineered over 30 years. Inspired from the beginning by small, hateful people. It will take time to return the country to its uninfested self.
- "The recent Securities and Exchange Commission "interpretive guidance" on climate change says companies should disclose not only potential risks from climate change, but also risks from climate-related legislation, regulation, international accords and effects on business trends....
• Impacts of legislation, regulation and international accords: Are profit projections based on reliable vote counts for climate and renewable energy bills, endangerment rules and a successor to Kyoto? On reasonable expectations that energy will remain reliable, affordable and carbon- based?
- Or on "greenwashing" PR, successful lobbying and speculative claims about melting glaciers and vanishing rain forests?
• Indirect impacts on business trends: Will wind turbine makers and carbon traders benefit now — or will it be nuclear power, or hydrocarbon-based industries such as chemicals, manufacturing, airlines and tourism?
• Societal risks: Are risks to businesses, investors, employees, and low-income and minority families due to climate change? Or to policies enacted in the name of preventing speculative climate change?
- Some companies would clearly benefit from laws and regulations that drive up the price of carbon and mandate or subsidize wind and solar power.
That's why 2,400 lobbyists were working on energy and climate in Washington last year, and
- General Electric alone spent $7.6 million lobbying during the second quarter of 2009.
- Other members of the "climate-industrial-government-activist-scientist complex" likewise have a stake in massive government spending to
- "prevent a climate cataclysm" and terminate our
- "perilous dependence on fossil fuels."
Exelon, Duke Energy, Penn State University (home of Michael Mann of "hockey stick" and "hide the decline" fame), NASA and similar institutions see solid potential "returns on investment" from lobbying and alarmist science.
- New York Sen. Kirsten Gillibrand says carbon permits would be a "boon" for the Big Apple's financial sector, creating a commodities market of "as much as $3 trillion by 2020."
Insurers and reinsurers would happily "disclose" alleged 20-foot-higher sea levels and more violent hurricanes
- conjured up by computer models.
These scare stories translate into "increased risk," higher premiums and extra profits.
Al Gore hopes to emerge from hiding, get back on the speaking circuit and recoup losses incurred by his
- Generation Investment Management firm. The carbon offsets and trading waters have been treacherous of late — based as they are on intangible "goods" and shifting political winds.
Carbon trading on the Chicago Climate Exchange began at $1 per metric ton in January 2004. Prices swung wildly, reaching a $7 peak value in May 2008 before
- crashing to $0.10 in October 2009.
- Speculators who entered the carbon market on May 30, 2008,
- lost 98.6% of their investment.
- Imagine the roller coaster ride that GE, Exelon and Munich Re investors could take, as more sordid details come out of the IPCC, concerns soar about U.S. deficits, jobs and credit ratings, and taxpayer anger rises over climate fraud, subsidies and sweetheart deals.
Companies like these would get rich off cap-and-trade and EPA "endangerment" rules.
- However, millions of businesses, employees and families would pay dearly. More than 30 states depend on coal for 35% to 98% of their electricity and a sizable portion of their jobs and tax revenues. All rely on oil and natural gas.
As U.S. Chamber members recognize, climate change laws and regulations would send energy costs skyrocketing, ship jobs overseas and shackle living standards and civil rights.
Even USCAP members are beginning to recognize those realities, the questionable "science" behind IPCC disaster scenarios, the declining odds for passage of new climate laws and the plummeting value of "seats at the negotiating table."
- They also know a new West Texas wind farm created 2,800 "green jobs" —
- but with 2,400 of them in China and just 400 temp positions in the U.S."...