Posts Tagged ‘cap and trade carbon credit’

Cap-and-Trade Carbon Credit Extortion Scam In Full Swing

Wow. But not surprising. Mish is right about the craziness (at best) of this racket. – Ilene

Cap-and-Trade Carbon Credit Extortion Scam In Full Swing

cap and tradeCourtesy of Mish

The cap-and-trade extortion racket promoted by the EU and UN has now blown sky high. Please consider Businesses hold world hostage over carbon credits.

WND research reveals the European Union’s cap-and-trade exchange is vulnerable to a sophisticated form of corporate extortion in which EU bureaucrats in Brussels are manipulated into paying hundreds of millions of dollars in carbon permit bribes to keep companies from moving jobs to Third World nations.

In fact, it appears the scam is already under way.

The crux of the scheme is this: European steelmakers have threatened to leave the EU for India, eliminating the jobs of thousands of workers in the process, unless the EU grants the steelmakers free carbon credits worth hundreds of millions of dollars.

Eurofer, a European trade group, is at the center of the scheme. The web of the plot, however, weaves in not only several companies, but also the United Nations’ climate change chief:

  • Among its members, Eurofer represents two EU steelmakers, Corus Redcar and ArcelorMittal, each of which has ties to India as well as to Rajendra K. Pachauri, the Indian industrial engineer who has been chairman of the U.N. Intergovernmental Panel on Climate Change, or IPCC, since 2002.
  • Eurofer appears to have coordinated a threat to the European Union Greenhouse Gas Emission Trading System that its steelmakers would move their operations from the EU to India unless the EU cap-and-trade exchange issued them – at no cost – carbon emissions permits worth hundreds of millions of dollars.
  • Once the bureaucrats in Brussels acquiesced, Corus Redcar and ArcelorMittal maneuvered to cash in windfall profits from the EU carbon permits given them at no cost.
  • Additionally, Corus Redcar has now announced a decision to close operations in Great Britain nonetheless and relocate its steelmaking activities to India in order to gain additional U.N. carbon credits.

Ironically, EU and U.N. officials who might have thought requiring cap-and-trade permits would operate as "protection racket" in which EU companies need to buy carbon credits to continue operations, have now found themselves on the losing end of the reverse scheme.

In the final analysis, the winners are the European Union corporations willing to play hardball with the European Union


continue reading


Tags: , , , , , , , ,




 
 
 

Zero Hedge

The Future Of What's Called "Capitalism"

Courtesy of ZeroHedge View original post here.

Authored by Charles Hugh Smith via OfTwoMinds blog,

The psychotic instability will resolve itself when the illusory officially sanctioned "capitalism" implodes.

Whatever definition of capitalism you use, the current system isn't it so let's call it "capitalism" in quotes to indicate it's called "capitalism" but isn't actual...



more from Tyler

The Technical Traders

January 2018 Stock Market Repeat - Yikes!

Courtesy of Technical Traders

Our research team caught a very interesting price pattern that correlates with the Put/Call ratio.  We are alerting our friends and followers with this research post of this exciting, yet unconfirmed, set up today.

In late 2017, the US stock market rallied from July through December with moderately low volatility throughout this span of time.  Near the end of 2017, the US stock market price activity stalled, then began a renewed price rally in early 2018 (see the first BLUE & YELLOW BOX on the chart below). Then, in January 2018, a very broad market reversion event took place which ultimately resulted in a very broad market correction in October through December 2018 of just over 20%.

...

more from Tech. Traders

Phil's Favorites

Snakes could be the original source of the new coronavirus outbreak in China

Reminder: We are available to chat with Members, comments are found below each post.

 

Snakes could be the original source of the new coronavirus outbreak in China

Chinese cobra (Naja atra) with hood spread. Briston/Wikimedia, CC BY-SA

Haitao Guo, University of Pittsburgh; Guangxiang “George” Luo, Univers...



more from Ilene

Biotech

Snakes could be the original source of the new coronavirus outbreak in China

Reminder: We are available to chat with Members, comments are found below each post.

 

Snakes could be the original source of the new coronavirus outbreak in China

Chinese cobra (Naja atra) with hood spread. Briston/Wikimedia, CC BY-SA

Haitao Guo, University of Pittsburgh; Guangxiang “George” Luo, Univers...



more from Biotech

Kimble Charting Solutions

Bull Case For Stocks, Testing Critical Breakout Level, Says The Inspector!

Courtesy of Chris Kimble

Some price points lend themselves to potential turning points. Is the S&P at one of those price points? The inspector suggests it is!

This chart looks at the S&P 500 over the past couple of years. Fibonacci was applied to the 2018 highs and 2018 lows.

The rally off the December 2018 lows, has the S&P testing its 161% extension level at (1).

While at this extension level, momentum is the 2nd highest in the past 5-years.

The Fibonacci extension level becomes a price point where some stock market bulls need/want to see...



more from Kimble C.S.

Insider Scoop

11 Communication Services Stocks Moving In Thursday's Pre-Market Session

Courtesy of Benzinga

Gainers
  • Pareteum, Inc. (NASDAQ: TEUM) stock moved upwards by 4.5% to $0.87 during Thursday's pre-market session.
  • Comcast, Inc. (NASDAQ: CMCSA) shares rose 2.0% to $48.40. The most recent rating by Wells Fargo, on January 16, is at Overweight, with a price target of $51.00.
  • Vodafone Group, Inc. (NASDAQ: VOD) shares moved upwards by 1.4% to $20.22.
Losers
  • Genius Brands Intl, Inc. ...


http://www.insidercow.com/ more from Insider

Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Monday, 16 September 2019, 05:22:48 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: This chart says SP500 should go back to 2016 levels (overshoot will occur of course)



Date Found: Tuesday, 17 September 2019, 01:53:30 AM

Click for popup. Clear your browser cache if image is not showing.


Comment: This would be HUGE...got gold!


...

more from Chart School

Members' Corner

The War on All Fact People

 

David Brin shares an excerpt from his new book on the relentless war against democracy and how we can fight back. You can also read the first, second and final chapters of Polemical Judo at David's blog Contrary Brin.

The War on All Fact People 

Excerpted from David Brin's new book, the beginning of chapter 5, Polemical Judo: Memes...



more from Our Members

Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



more from Lee

Digital Currencies

Cryptos Have Surged Since Soleimani Death, Bitcoin Tops $8,000

Courtesy of ZeroHedge View original post here.

Bitcoin is up over 15% since the assassination of Iran General Soleimani...

Source: Bloomberg

...topping $8,000 for the first time since before Thanksgiving...

Source: Bloomberg

Testing its key 100-day moving-average for the first time since October...

...



more from Bitcoin

Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

more from M.T.M.

Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

more from Promotions





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>