Say what you want about Dr. James Hansen of NASA’s Goddard Institute for Space Studies, but even the proverbial stopped watch is right twice a day. Looks like Dr. Hansen finally has one correct idea, at least as far as the usefulness of cap and trade is concerned. We wonder if this is the result of shock therapy.
Speaking at San Francisco’s Commonwealth Club he had the following to say:
The system, in which companies buy and sell permits to produce greenhouse gases, is a “half-baked” and “half-assed” way to deal with global warming, Hansen said.
His comments Tuesday were typically blunt. Cap and trade, he said, does little to cut emissions. But it does enrich the trading desks of banks, who have a new market to explore.
“Why do you want big banks in this problem?” Hansen asked. “Why should they be making money? Every cent they make is coming out of the public’s hide. And they add absolutely nothing. What you want is a system which is very simple and makes things cleaner.”
No, he didn’t do a 180 degree flip on global warming, but at least he gets the idea that the cap and trade system is a ripoff and basically doesn’t do much except ripoff the general public and make bankers fat, AKA: Bend forward in the name of Gaia. At least him making these statements is one step in the right direction.
It also appears he neglected to mention that no matter how it’s administered, cap and trade is a glorified tax that greedy states like California will grab under the pretense of saving us all from global warming and then misuse it on other “half-assed” schemes.
The best part of this is he said it all in front of California Governor Jerry Brown who’s no doubt salivating at getting California’s hooks into that money. Jerry just loves cap and trade. What greedy government official wouldn’t?
Source: SF Gate