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Obama Admin. Spending over $17 Million Exploring Market for Carbon Credits

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By Doug Powers  •  June 8, 2011 10:37 PM

**Written by Doug Powers

Did anybody really think the collapse of the Chicago Climate Exchange’s emissions credits trading would stop the effort to force a market for it? Not when they have more of our money with which to bring something similar back to life:

(CNSNews.com) – The Department of Agriculture (USDA) announced that it has awarded $17.4 million for pilot projects that will begin exploring how to establish a market for greenhouse gas (GHG) credits, a key component of a cap and trade system, to help reduce carbon and other emissions that apparently contribute to global warming.

Agriculture Secretary Tom Vilsack said the projects were the “foundational work” for establishing an American carbon market.

“This is really sort of foundational work that’s being done,” Vilsack told reporters on a conference call on Wednesday.

The administration is determined to force a demand, much like the CEO of Government Motors wants to artificially create a market for hybrid vehicles — and can afford to do so thanks to taxpayer money. The last time carbon trading was tried in the US, the resulting ups, downs and ultimate flat-lining resembled a graph that could very well represent Anthony Weiner’s political career:

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The search continues to find a way for Al Gore’s Generation Investment Management, Goldman Sachs and the rest to clean up, all on your dime (and then some). These things are almost entirely hinged upon who’s power in Washington (the above graph collapse coincides almost perfectly with the 2010 election results), so that’s yet another thing to keep in mind when choosing candidate(s) to support during the 2012 election season.

**Written by Doug Powers

Twitter @ThePowersThatBe

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