- Posted August 8, 2009 by
This iReport is part of an assignment:
Signs of the economic times
Goldman Sachs and Al Gore Plan to Make Billions with CAP and Trade Scheme as Millions Lose Jobs
The Clean Energy and Security Act of 2009 passed the House in June and the Senate will soon vote on it. Obama is relentlessly trying to win senators to vote for this legislation even though this bill will not significantly improve the climate. At best, it will lower global temperature by 1/100 of a degree. At worst, John Coleman and 30,000 Scientists will prove this to be a money-making scam based on little scientific data. Regardless, this bill will significantly harm middle class families who are already strapped for cash. Dr. Margo Thorning testified to the US House of Representatives that "higher energy prices slow economic growth. Under a CAP and trade system, the large spikes in the cost of electricity, natural gas and other energy sectors will be passed to consumers that can ill afford higher bills in this difficult economy." (Source: ACCF Press Release, "Higher Energy Prices, GDP Declines and US Job Losses are Consequences of CAP and Trade Policies" March 26, 2009). Evidence is weighing in and showing that Al Gore and Goldman Sachs Executives plan to make a fortune from this scheme at the expense of the American public.
Goldman Sachs, Al Gore and even President Obama himself are set to earn billions from this CAP and Trade system if it passes the Senate. It is no wonder that Enron advocated a CAP and trade system in the late 1990's. This bill would create a carbon exchange market that will be funded by carbon taxes and fees from an unsuspecting public. Companies would have to buy carbon credits. According to James Corbett, "Goldman Sachs owns a 10% stake in the Chicago Climate Exchange, where carbon credits will be traded. Moreover, Goldman owns a minority stake in Blue Source LLC, a Utah-based firm that sells carbon credits of the type that will be in demand if the bill passes. Nobel Prize winner, Al Gore, who is intimately involved in planning the CAP and Trade, started a company called Generation Investment Management with 3 former bigwigs from Goldman Sachs...Their business? Investing in carbon offsets. Obama himself has invested in buying carbon credits for himself and companies developing carbon tracking software." (Source: James Corbett, "Banksters Love CAP and Trade..." Global Research.CA July 2, 2009).
While Obama, Gore and Goldman Sachs executives make billions from the CAP and Trade scheme, the American Middle Class will join the ranks of the poor. The cost of everything will suddenly go up and become unaffordable for the average American. Companies are going to make Americans pay for their new expenses. Millions of American jobs will be lost because many companies will find it more lucrative to just move to a country that does not have such a system in place. In any case, this bill spells the death of America's Middle Class.