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There's nothing 'clean' about it

Small wonder one of the earliest, most enthusiastic backers of emissions trading in the U.S. -- which President Barack Obama and the Congress are about to drag Americans, and thus all of North America, into -- was Ken Lay, the late chairman of Enron. The now-infamous energy-trading company, later convicted of global fraud, predicted more than a decade ago emissions trading would "do more to promote Enron's business than almost any other regulatory initiative outside of restructuring" the fossil fuel industry.

September 27, 2009 by Lorrie Goldstein in Toronto Sun

The closer you look at the global cap-and-trade market in carbon dioxide emissions, the dirtier it gets

Have you ever had that nightmare where you're being chased by a monster and yet your legs feel like lead and you can't get away?

That's how I feel every time Prime Minister Stephen Harper and Ontario Premier Dalton McGuinty start babbling about the joys of dragging us into a global cap-and-trade market, supposedly to lower man-made carbon dioxide emissions.

Cap-and-trade is already a highly speculative and rapidly expanding (by up to 50% annually) $100-billion-a-year business, mainly in Europe, rife with allegations of fraud, mismanagement and profiteering.

Despite that, its biggest enthusiasts -- hedge funds and giant energy companies that have been cashing in like bandits -- predict it could become the world's largest trading market within a decade.

Oh, goody. Because if that's true, we might as well shoot our RRSPs in... [continue via Web link]