View Full Version : Enron Devised Cap-And-Trade Schemes

01-13-2010, 04:30 PM
An interesting YouTube of Rep. Scalise questioning Al Gore about Cap and Trade.

Cap and Trade is a Wall St. scam, first proposed by Enron, now being championed by former stock broker Barbara Boxer. The following CSPAN clip shows Al Gore being questioned about the Enron connection:

YouTube - Rep. Scalise: Enron Devised Cap-And-Trade Schemes (http://www.youtube.com/watch?v=gPbpmOk9Qjc)


01-14-2010, 12:32 PM
An interesting story from an Enron insider:

(Highlights added)

Twelve years ago almost to this very day, I left my law firm to accept a position that had rather unexpectedly fallen in my lap: I had gotten a call from Enron asking me to be their Director of Federal Government Relations. Everyone polled suggested it was a great opportunity, a company admired throughout town, not only by the Clinton-Gore administration (with which it was very close), but by Republicans, too.

I believe it was my first day on the job when I walked into my boss’s office in Enron’s suite across from the White House, smack into a meeting between her and two of the Natural Resources Defense Council’s senior DC officials. The next day, I sat in for “Kenny Boy” at a meeting in the fancy D.C. offices of a New York law firm, around a table of Baptists and bootleggers, rent-seekers and green puritans, all discussing how to ensure a global-warming treaty came about according to our collective design, and how to rope the U.S. into it.

Seeing very measured groups like the Union of Concerned Scientists on my immediate left (naturally), I turned to a representative of one of the rent-seekers (in on the meeting were the American Gas Association, Niagara-Mohawk Power, and BP, among others) on my right and asked, “What are we doing sitting around a table with a bunch of people who want to put us out of business?” I was told with a laugh, “They want to put coal out of business first.”

Lovely people, these folks kind enough to introduce me to the world’s second-oldest profession — making one’s fortune off of policy favors from buddies in government instead of by innovation or competition. Frederic Bastiat, phone your office.

So I fired off a “Houston, we have a problem” missive to my boss asking if Enron knew what it was getting into in this group. That’s when they explained the specifics of their business plan to me — which did include setting up a trading business with Goldman, by the way, as one of Goldman’s energy practice chiefs at the time also roared to me in joy about about all of the money they were going to make. This cannot conceivably be news to Al Gore and his VC partner and former Goldman pooh-bah David Blood discussed in the linked item above.

This plan has since been carried off to greener pastures by any number of Kenny Boy’s protégés — including one of the most vocal leaders of the current industry push for the cap-and-trade rationing scheme, as I detail in Red Hot Lies. Read that if you want to know just how Rep. Scalise really did nail things in his questioning.

Anyway, fast forward a few uncomfortable weeks of retaliatory behavior that I am confident you wouldn’t believe — but I’d be happy to take a speaking fee to tell you about. I’m no longer with the company, and Enron and the greens continue to pursue their agenda — which happens to be Congress’s current agenda. Soon thereafter, in July 1997, a unanimous Senate votes pursuant to Art. II, Sec. 2, gives its (unsolicited) “advice” to Clinton-Gore not to go to Kyoto and agree to that beast of a treaty. In December, Al Gore flies off to Kyoto and does just that.

The intervening event? An August 4, 1997 Oval Office meeting with Kenny Boy, Sir John Browne (then of BP), and the president and vice president of the United States. Let that sink in. Al Gore says he didn’t know the guy. But anyone who can even spell “Beltway” can tell you that that kind of attention requires serious influence. Ask Gordon Brown.

As revealed by the August 1, 1997, Kenny Boy briefing memo that entered the public record after the Enron unpleasantness, in this meeting Kenny Boy was to demand that the Senate be ignored, that the administration agree to Kyoto, and — most important — that it contain a cap-and-trade scheme.

I know where “advice and consent” is in the Constitution. I’m not so sure where Ken Lay and Sir John Browne are, probably in the back with all of the scary stuff. Anyway, you know who won.


01-16-2010, 01:11 PM

By Chuck DeVore

What is Cap-and-Trade? Cap-and-Trade is a political scheme ostensibly aimed at reducing greenhouse gas emissions with the goal of reducing the global temperatures.

With a Cap-and-Trade law in place, the government would set a yearly greenhouse gas emission target (carbon dioxide is the most common man-made greenhouse gas, you are exhaling right it now) and would reduce that yearly ceiling over time. This is the “Cap” of Cap-and-Trade.

The “Trade” part of this scheme comes in when the government (read: politicians) gives out greenhouse gas emission credits, valued at billions of dollars, to favored industries. So, industries with greater credits than emissions would be able to sell their valuable credits (basically, a right to emit greenhouse gases) to those industries (such as the coal industry or the oil and gas industries) which would need the credits to stay in business.

Over time, the government makes money, commodities traders make money, such as those on the Chicago Climate Exchange (yes, it exists, they make money trading carbon dioxide credits), politically favored industries make money (such as those former Vice President Al Gore has invested over $100 million in), and the rest of us get hit with the bill – up to $2,000 per family per year of higher energy costs. Thus, Cap-and-Trade is actually a huge energy tax on working Americans.

Senator Barbara Boxer is in charge of pushing the Cap-and-Trade energy tax scheme through the Senate. She says that Cap-and-Trade will create American jobs and reduce global greenhouse gas emissions. She is wrong on both counts.

Let’s take jobs first. Recent studies from Spain show why. In March of 2004, an al-Qaeda affiliate launched a terror attack on the Spanish transit system, killing 191 people. Days later, the conservative Spanish government was defeated by the Socialists who pulled Spanish troops out of Iraq and launched an aggressive “green jobs” program. The results of this experiment are now in and it doesn’t look good for Sen. Boxer and her allies. Juan Carlos University in Spain completed a study in March, 2009 of the effectiveness of the effort to create a large amount of solar and wind energy green jobs. Their findings: each “green” job created with a government subsidy caused the loss of 2.2 regular jobs; each “green” job cost about $800,000 to create; while 110,000 other jobs were lost due to higher energy costs in metallurgy, mining, and other industries. The net result: some 60 percent of the Eurozone’s newly unemployed are Spaniards. This makes sense: increasing the cost of energy makes any energy-intensive industry less competitive with companies located in lower energy cost areas such as coal-powered China.


01-16-2010, 01:32 PM
Thanks for all the enlightening info, Brian. Is there an extended version to those comments and questioning of Gore?

01-16-2010, 06:16 PM
Thanks for all the enlightening info, Brian. Is there an extended version to those comments and questioning of Gore?

This clip seems like the same hearing:

YouTube - Al Gore once again exposed as disingenuous fraud (http://www.youtube.com/watch?v=WbLK4RZDdzI)

Working Poor
01-17-2010, 09:09 AM
here is my solution to cap and trade:


01-17-2010, 10:37 AM
An interesting YouTube of Rep. Scalise questioning Al Gore about Cap and Trade.
Al Gore looks like he just got caught doing something naughty, like stealing from the collection plate at church. lol

04-28-2010, 12:10 PM
Bump for the Obama connection to Cap and Trade and Goldman Sachs...