Nothing more poignantly reflects the collapse of the great global warming scare than the decision of the Chicago Carbon Exchange, the largest in the world, to stop trading in "carbon" – buying and selling the right of businesses to continue emitting CO2.
A few years back, when the climate scare was still at its height, and it seemed the world might agree the Copenhagen Treaty and the US Congress might pass a "cap and trade" bill, it was claimed that the Chicago Exchange would be at the centre of a global market worth $10 trillion a year, and that "carbon" would be among the most valuable commodities on earth, worth more per ton than most metals. Today, after the collapse of Copenhagen and the cap and trade bill, the carbon price, at five cents a ton, is as low as it can get without being worthless.
Here in Britain, as the first snows fall, heralding what may be our fourth cold winter in a row, it is time we addressed one of the most glaring political "disconnects" in our sadly misgoverned country.
It was recently reported that farmers are rushing to cash in on the ludicrous subsidies which could earn them £50,000 a year for covering 35 acres of their fields with solar panels bought from China. These yield, on average, only 8 per cent of their capacity. Last year, all the solar panels in Britain generated an average 2.3 megawatts, barely 1/500th of the output of a single medium-sized coal-fired power station. Yet our Government wants us to pour billions of pounds into this scheme, just when Spain, Germany and Australia have drastically reduced their own solar subsidies, because the billions they lavished on them turned out to be a total waste of money for virtually no return.
Experts at Positive Weather Solutions - who predicted last year's big freeze - expect December to be gripped by fog until we are bombarded by repeated snowfalls in January.
Senior forecaster Jonathan Powell said: "Scotland will bear the brunt of Britain's winter. It has another bitterly cold winter in store.
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"Temperatures will rival those seen last year with snowfall a close match.
"It is unusual to have two very harsh winters back-to-back, so most people would have expected it milder this year. We could see another white-out scenario as some areas grind to a halt.
"School closures are likely, as is disruption on the roads if there are heavy snowfalls or if they are not gritted. Local authorities will have to handle another very cold winter."
The forecasting firm - which predicts from long-term weather patterns - also claims another white Christmas is a "distinct possibility in Scotland".
Last year's was the first since 2004. But last winter was also the coldest in 31 years, with a UK average temperature of 1.5°C - dropping to as low as -22.3°C in Sutherland.
Originally posted by zeeblebot http://www.telegraph.co.uk/comment/columnists/christopherbooker/8131383/The-climate-change-scare-is-dying-but-do-our-MPs-notice.html
By Christopher Booker 7:26PM GMT 13 Nov 2010
Nothing more poignantly reflects the collapse of the great global warming scare than the decision of the Chicago Carbon Exchange, the largest in the world, to stop trading in one of the most glaring political "disconnects" in our sadly misgoverned country.
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They are waiting for the economy to begin to recover. Then they will begin to talk again about cap and tax. Of course, that may never come!! 😛
In fact, I almost hope the economy stays where it is. I dread the economy kicking into gear and then having to deal with widespread inflation and higher OPEC gauging at the pumps.
carbon is trading at 5 cents the ton
14 Nov '10 06:35
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