LA REVUE GAUCHE - Left Comment

Thursday, July 05, 2007

The Carbon Market Myth

Once again capitalism tries to make a buck off the environmental crisis it created. In this case it is carbon markets.

In Canada the dispute over a domestic carbon exchange, linked to the stock exchange, is between Quebec which supports Kyoto in order to get the carbon exchange to locate in Montreal, while the Conservatives refuse to play in the carbon market, disadvantaging the TSX.

While the Tories talk about Carbon credits going to Russia, the reality is that the carbon market is housed in the Chicago commodity exchange. It is a non starter when it comes to actually reducing green house gases. Instead of being some futuristic market it is a return to the state monopoly mercantilism of the 17th Century.

The carbon market is unique in that the commodity traded derives its value primarily from its ability to meet the requirements set by an environmental regulator. There is also a market for voluntary offsets to emissions, but this market is small and unlikely to ever represent a significant piece of the total carbon trading pie (the World Bank estimates (PDF document) that the EU ETS, the only regulations-based emissions trading market in the world, accounted for 99% of total market value in 2006).

The problem with this is that governments have a long history of messing things up when they get involved in any industry. For instance, in Europe, the market for phase one emission allowances took a massive hit after it became clear that EU governments had over-allocated emissions to shield their national industries from the full effects of strict emissions caps. Besides effectively neutralizing the economic incentive to innovate and reduce emissions, this seriously shook the market's confidence in the ability of governments to uphold the necessary conditions for an effective and efficient carbon market to develop.

See:

Corporate America Greener Than Harper

Find blog posts, photos, events and more off-site about:
Genera, Electric, DuPont, Alcoa, NYTimes, Corporate America, Kyoto, Envrionment, carbon, carbon trading, emissions, greenhouse gas, climate change, global warming, Conservatives, Canada, Harper, John Baird,
biocomplexity, science, socialism,
biology, technology, work, labour, labor, surplus-value, Marxism, industrial-ecology, environment, market, free-market, capitalism,
social-ecology, , green, green-capitalism,, Kyoto, Canada Harper, David Suzuki, carbon-credits, EU, pollution,
climate-change, Conservatives, Liberals, government, environment, Nicholas Stern, electricity, capitalism, sustainability

Blackstone Hi-jinx

Having appointed former PM the RH Brian Mulroney to the board, Blackstone the private equity hedge fund went public with an IPO. In the two weeks it has made no money on its posting in the stock market, but had paid off its CEO handsomely. This week it offered to buy out Hilton Hotels, with a bid that led to cries of insider trading. If any fallout occurs then Blackstone can always call on Mulroney to bail them out as he did with ADM.

Since the close on its first full day of trading on June 22nd, Blackstone Group (BX) has not finished a single session in positive territory.

Blackstone, whose founder Stephen Schwarzman pocketed $677 million from his IPO's proceeds.

Shares of Hilton Hotels Corp. rose 6.44% to close at $36.05 Tuesday -- ahead of the announcement of the company's sale to the Blackstone Group for approximately $20 billion in cash. After the close, Blackstone said it would pay $47.50 per share for Hilton, a 32% premium. The pre-news rise -- the shares' strongest surge since 2005 -- has prompted calls of insider trading.

Although much of the attention on Blackstone has centered on CEO and co-founder Stephen Schwarzman, it is Hamilton "Tony" James who runs the firm, his hand on everything from private equity deals to real estate transactions to advisory work.

As Blackstone's No. 2, the pressure is on James to lead the firm through its new chapter as a public company and steer the massive money machine through the rough waters facing private equity firms.

With the private equity industry booming, James earned more than the CEOs of Goldman Sachs (GS.N: Quote, Profile, Research) and JPMorgan (JPM.N: Quote, Profile, Research) combined last year and his stake in the firm is currently worth $1.55 billion after its June IPO -- a huge amount considering his riches have come neither as a chief executive nor a company founder.
The billions Blackstone's top executives raked in through the $4 billion IPO however, attracted the scrutiny of lawmakers, who proposed legislation to jack up the firm's tax bill.

"I'm worried about the fact that private equity has grown so quickly and so fast that it's made itself a natural target for speculation and resentment," James said at the Reuters Investment Banking Summit in November. "It has made a lot of money."

Also worrying are investor doubts about Blackstone's high valuation and a pullback in the credit markets, factors that have sent shares of the company lower since their debut.

See:

The Ethanol Scam: ADM and Brian Mulroney

Criminal Capitalism Business As Usual

Gambling On Your Future

Criminal Capitalism Redux

Golden Parachutes

Rich Getting Richer

CEO Cream Sour Milk for Workers

Criminal Capitalism The Story of 2006

White Collar Crime Reporter 1

Find blog posts, photos, events and more off-site about:
criminology, corporate-crime, white-collar-crime, sociology, fraud, ADM, Blackstone, Mulroney, scandal, criminal-capitalism, workers, employees, theft, crime,
Hilton, IPO, Canada,
CEO, pay, goldenparachutes, Corporations, fatcats, rich, superrich,

Overturn This

Our law and order pro military federal government likes to overturn Liberal government laws, how about this one. Betcha they don't.

Ottawa has always admitted mismanaging the veterans funds by failing to invest the money or to credit them with any interest.

However, the government decided to start paying interest in 1990, but passed legislation blocking claims for interest before then.

It was that law the Supreme Court upheld in 2003.
By some estimates, the award would have topped $6 billion with accrued interest had it been allowed to stand.

SEE:

Rememberance or Revisionism

Harper War Monger

An End to Colonial Assimilation?

Find blog posts, photos, events and more off-site about:
Fascism, Vietnam, War, WWI, WWII, SpanishCivilWar, International-Brigades, Rememberance, Rememberance-Day, poppies, Veterans, BoerWar, Canada, warmonger, Bourne, Anti-War, just-war, MacPaps, Conservatives, Harper, NDP,
blogs, blogging, bloggers, Dippers, progressive-bloggers, Canadian-blogs,

Bullying and Infertility

Aggressive bullying can lead to a reduced sex drive according to this article.

Stressed-out African Naked Mole-rats May Provide Clues About Human infertility

As Wilhelm Reich noted over sixty years ago cooperative loving relationships are healthier than aggressive, dominating ones, whether at home or in the workplace.

Only the liberation of the natural capacity for love in human beings

can master their sadistic destructiveness.

Wilhelm Reich, on Sigmund Freud's hope

SEE:

Psycho Bosses Depressed Workers

A Little Eros For Valentine's Day

Gore Kulture

Harpers War Costs-58 Dead

The body count grows as Canada once again plays a leading role in a colonial war.

July has been the worst for our troops. In May and June there were two deaths.

By yesterday July had recorded the most deaths in a day, a week and a month.

Last time we lost troops in a mission to get 'blooded', as General Hillier calls it,

A recent comment by Canada's military boss, Chief of Defence Staff Rick Hillier, that the job of Canadian troops "is to be able to kill people,"

the blunt-speaking Gen. Hillier has denigrated those fighting against Canadian troops in Afghanistan as "detestable murderers and scumbags."

in order to 'prove' ourselves to our Colonial masters, was Dieppe and Dunkirk. And like those historical debacles our soldiers are being sacrificed in Kandahar in another failed Imperial mission.

Twenty-two soldiers have now been killed on this rotation alone; by this time last year only eight had died.

The last three months have seen five deadly explosions claim a total of 19 Canadian soldiers with four weeks of summer fighting season to go before this deployment returns to Canada.

Before we even were fully committed to the Kandahar mission, knowing our own troops were subject to friendly fire as much as enemy fire, Harper ignored the death of a Canadian soldier, shot in the back by our American allies, in order to have his government blooded.

While Canadian military authorities continue to drag their heels, the U.S. Army says Pte. Robert Costall was killed by friendly fire – apparently American special forces.
The 22-year-old machine-gunner, born in Thunder Bay and deployed to Afghanistan with Princess Patricia's Canadian Light Infantry, was the first Canadian firefight casualty in that country.
He was slain during a fierce battle March 29, 2006, after his rapid-response platoon was sent to a forward operating base in support of Afghan and special forces troops who had come under siege.
Yesterday, the U.S. Army released its investigation results to Associated Press, asserting that Costall and an American sergeant, also killed that night, were shot from behind in a burst of machine-gun fire that originated from within the compound at Forward Operating Base Robinson, some 110 kilometres northwest of Kandahar City.

With every death Harper denies the futility of his war.

Prime Minister Stephen Harper issued a statement following the death, offering his condolences to family and friends of Caswell.

"Without security there can be no development in Afghanistan, and thanks to soldiers like Trooper Caswell, we are making significant progress. He has left a valuable legacy and we will be forever grateful for the ultimate sacrifice he has made for our country," the statement read.

While his commanders on the ground point out the futility of claiming this is a humanitarian project for redevelopment. It is a counter insurgency, an anti-opium mission, it is America's war that we are fighting and loosing.

Lt.-Col. Bob Chamberlain, commander of the Provincial Reconstruction Team, lamented that there are districts in the province where a sudden upsurge in Taliban activity has kept redevelopment and humanitarian activity barricaded inside forward operating bases.
If Canada cannot record enough military progress to secure areas so the vital work of rebuilding the shattered lives of the Afghan people can proceed, one has to wonder if the entire mission isn't in jeopardy.
"Everything in war is very simple," Von Clausewitz wrote in On War. "But the simplest thing is difficult."

Hope is confident the superior training and equipment of his army will vanquish the insurgents.

"For centuries, it's the biggest, best-armed tribe that has ruled Afghanistan," he says. "Well, we have a heck of a big, well-armed tribe."

No one points out that the Soviets held the same opinion of their tribe.

And while the media reports the total casualties since 2002, that obscures the fact that more Canadian troops have died since Harper declared this his war in 2006, then died in the four years prior to that.

Eight Canadians, including our Diplomat to Afghanistan, died prior to Harper declaring his war in Kandahar; dubbed Operation Peacemaker. The Orwellian irony being deliberate as Harper and Hillier took us from Peacekeeping operations to active warfare; Peacemaking.

Since then his government has been responsible for the death of the remaining 58 Canadian troops in their efforts at peacemaking.

Canadian death toll in Afghanistan: 66 soldiers, one diplomat
By The Canadian Press
Since 2002, 66 Canadian soldiers and one diplomat have been killed in Afghanistan. Here is a list of the deaths:

2007
July 4 — Cpl. Cole Bartsch, Capt. Matthew Johnathan Dawe and Pte. Lane Watkins, all of 3rd Battalion Princess Patricia’s Canadian Light Infantry based in Edmonton; and Master Cpl. Colin Bason, a reservist from The Royal Westminster Regiment based in New Westminster, B.C. The family of the other two killed have not yet agreed to the release of their names. Killed by a road side bomb in Panjwaii district west of Kandahar city.
June 20 — Sgt. Christos Karigiannis, Cpl. Stephen Frederick Bouzane and Pte. Joel Vincent Wiebe, all of 3rd Battalion Princess Patricia’s Canadian Light Infantry killed by a roadside bomb west of Kandahar.
June 11 — Trooper Darryl Caswell, 25, of the Royal Canadian Dragoons, by a roadside bomb north of Kandahar.
May 30 — Master Cpl. Darrell Jason Priede, killed when a U.S. helicopter was reportedly shot down by the Taliban in Helmand province.
May 25 — Cpl. Matthew McCully, 25, killed by an improvised explosive device in Zhari District.
April 18 — Master Cpl. Anthony Klumpenhouwer, who served with elite special forces, died after falling from a communications tower while on duty conducting surveillance in Kandahar City.
April 11 — Master Cpl. Allan Stewart and Trooper Patrick James Pentland killed when their Coyote vehicle struck an improvised explosive device.
April 8 — Sgt. Donald Lucas, Cpl. Aaron E. Williams, Pte. Kevin V. Kennedy, Pte. David R. Greenslade, Cpl. Christopher P. Stannix and Cpl. Brent Poland killed when their vehicle hit a roadside bomb.
March 6 — Cpl. Kevin Megeney, 25, killed in accidental shooting at NATO base in Kandahar.
2006
Nov. 27 — Chief Warrant Officer Bobby Girouard and Cpl. Albert Storm killed by suicide car bomber.
Oct. 14 — Sgt. Darcy Tedford and Pte. Blake Williamson killed in ambush.
Oct. 7 — Trooper Mark Andrew Wilson killed by roadside bomb.
Oct. 3 — Sgt. Craig Gillam and Cpl. Robert Mitchell killed in series of mortar, rocket attacks.
Sept. 29 — Pte. Josh Klukie killed by explosion in Panjwaii while on foot patrol.
Sept. 18 — Pte. David Byers, Cpl. Shane Keating, Cpl. Keith Morley and Cpl. Glen Arnold killed in suicide bicycle bomb attack while on foot patrol in Panjwaii.
Sept. 4 — Pte. Mark Graham killed when two NATO planes accidentally strafed Canadian troops in Panjwaii district.
Sept. 3 — Sgt. Shane Stachnik, Warrant Officer Frank Robert Mellish, Pte. William Cushley and Warrant Officer Richard Francis Nolan killed in fighting in Panjwaii district.
Aug. 22 — Cpl. David Braun killed in suicide attack.
Aug. 11 — Cpl. Andrew Eykelenboom killed in suicide attack.
Aug. 9 — Master Cpl. Jeffrey Walsh killed by apparent accidental discharge of rifle.
Aug. 5 — Master Cpl. Raymond Arndt killed when his G-Wagon patrol vehicle collided with truck.
Aug. 3 — Cpl. Christopher Reid killed by roadside bomb. Sgt. Vaughan Ingram, Cpl. Bryce Keller and Pte. Kevin Dallaire killed in rocket-propelled grenade attack.
July 22 — Cpl. Francisco Gomez and Cpl. Jason Warren killed when car packed with explosives rammed their armoured vehicle.
July 9 — Cpl. Anthony Boneca killed in firefight.
May 17 — Capt. Nichola Goddard killed in Taliban ambush. She was first Canadian woman to be killed in action while serving in combat role.
April 22 — Cpl. Matthew Dinning, Bombardier Myles Mansell, Lt. William Turner and Cpl. Randy Payne killed when their G-Wagon destroyed by roadside bomb.
March 29 — Pte. Robert Costall killed in firefight with Taliban. (Friendly fire shot in the back by American forces. ep)
March 2 — Cpl. Paul Davis and Master Cpl. Timothy Wilson killed when their armoured vehicle ran off road.
Jan. 15 — Glyn Berry, British-born Canadian diplomat, killed in suicide bombing.

2005
Nov. 24 — Pte. Braun Woodfield killed when his armoured vehicle rolled over.

2004
Jan. 27 — Cpl. Jamie Murphy killed in suicide bombing while on patrol.

2003
Oct. 2 — Sgt. Robert Short and Cpl. Robbie Beerenfenger killed in roadside bombing.

2002
April 17 — Sgt. Marc Leger, Cpl. Ainsworth Dyer, Pte. Richard Green and Pte. Nathan Smith killed when U.S. F-16 fighter mistakenly bombed Canadians.

And since most of the recent Canadian deaths have happened from buried explosives, one cannot assume they are from the Taliban. As I have point out before their deaths could have been the result of the thousands of hidden land mines buried through-out the area.

Maj. Andy Walker, the officer commanding Armoured Support Company for 3 Commando Brigade, has done three tours of duty in Iraq where his soldiers constantly faced the threat of IEDs.

He said he’d rather fight groups of Taliban.

“An IED, you don’t know where it is from, who has initiated it, you don’t whether it is a booby trap, whether it’s a mine, it’s the not knowing of IEDs that is the key concern of people,” he said in a recent interview at Camp Bastion, the support headquarters of the British command in Afghanistan.

The image “https://www.kintera.com/accounttempfiles/account19536/images/c-button.jpg” cannot be displayed, because it contains errors.

Also See:

Harpers War

Friendly Fire

Afghanistan

War

The image “http://photos1.blogger.com/blogger/4319/673/320/2006-08-31-Troops.jpg” cannot be displayed, because it contains errors.

Find blog posts, photos, events and more off-site about:
NDP, liberals, Afghanistan, PB, BT, Canada, Progressivebloggers, bloggingtories, blogs, blogging, bringthetroopshome, Layton,NDP, Layton, TroopsOut, Afghanistan, War, Harper, Conservatives, Liberals, Canada, politics, military, NATO, peacekeeping, Karzai, NDP, liberals, Afghanistan, PB, BT, Canada, Progressivebloggers, bloggingtories, blogs, blogging, bringthetroopshome, Layton,NDP, Layton, TroopsOut, Afghanistan, War, Harper, Conservatives, Liberals, Canada, politics, military, NATO, peacekeeping, Karzai, Liberals, Canada, Soldiers, Death, Injury, Afghanistan, Government, Politics, values,

Tags
Canada
USA
War
Friendly Fire
Canadian Troops
Afghanistan
Kandahar
NATO

Wednesday, July 04, 2007

July 4th posts

Here are my posts in celebration of American exceptionalism.

The Era Of The Common Man

Once More On the Fourth

A NEW AMERICAN REVOLUTION

Edward Gibbon Wakefield

Jamestown; the beginning of Globalization

Jamestown; The Birth of Capitalism

The Origin of American Conspiracy Theories

History of Slavery

The Truth Shall Set Ye Free

Black History Month; P.B. Randolph

American Fairy Tale

"Are Anarchists Thugs?"

Libertarian Justice

Cooperative Commonwealth=Free Market

The Fifth International

The Many Headed Hydra

Monopoly Capitalism in Cyberspace

Gold Bugs

Why The Conservatives Are Not Libertarians

Find blog posts, photos, events and more off-site about:
social credit, Major Douglas, Prairie, agrarian, farmers, populism, populist, producer, producerism, distributionism, Hilare Belocq, Conservatives, US, Grange anarchism, socialism, libertarian, left-libertarian, individualist-anarchism, George, Evans, Jackson, Jacksonian, America, government, working-class, free-land, workingmans-declaration-of-independence, Benjamin, Tucker, Workingmans-Party, abolistionists, Republican-Party, Jacksonian-Democracy, Lincoln, , common-man, Greeley,

Alien Cheney

And in a follow up on the Roswell post, there is this headline which could be interpreted as alleging that U.S. VP Dick Cheney has been taken over by an alien.

Strange creature appears in Cheney

Find blog posts, photos, events and more off-site about:
Cheney, USA, White House, cover up, Whittington, Hunting, Shooting, Accident, Texas, Bush

Roswell Aliens

After last weeks confession that yes Virginia the CIA did engage in all those conspiracies, now we have an expose that yes Virginia you were right, there were aliens at Roswell.

last week came an astonishing new twist to the Roswell mystery.
Lieutenant Walter Haut was the public relations officer at the base in 1947 and was the man who issued the original and subsequent press releases after the crash on the orders of the base commander, Colonel William Blanchard.

Haut died last year but left a sworn affidavit to be opened only after his death.

Last week, the text was released and asserts that the weather balloon claim was a cover story and that the real object had been recovered by the military and stored in a hangar.

He described seeing not just the craft, but alien bodies.

SEE:

UFO News

Suffield Base Canada's Area 51

Find blog posts, photos, events and more off-site about:
lluminatis, XFiles, UFO, FlyingSaucer, RAW, RobertAntonWilson, Fnord, occult, parascience,
CIA, gitmo, Guantanamo, Cuba, CIA, terrorists, torture, detainees, LSD, MMDA, PCP, hallucinogens, psychohallucenogens, Jack Anderson, Mae Brussel, Liddy, Spies, Terrorism, Terrorists, Airplane,
Russia, US, Missle, Ballistic missle, space, spacewar, missile defense, BMD, satellite, weaponization of space
NORAD, BMD, Star-Wars, Harper, Bush, US, Canada, military, parliament, 9/11

Tuesday, July 03, 2007

Separated At Birth

Eddie Munster and Ed Stelmach.

Check out Stelmach's widows peak.

Imitating the other Eddie.

SEE:

Drumheller Bell Weather

Lily Munster RIP

Grandpa Munster RIP

g posts, photos, events and more off-site about:
Alberta, Premier,
Alberta Cabinet, Harry Strom, Ed Stelmach,
Social Credit,Socreds, PC, Calgary, Party of Calgary, politics, leadership, Conservatives, Edmonton, One Party State,History, Politics, Economics,leadership, politics, PC,
Lily Munster, The Munsters, TV, Stars,

He Can't Manage

Alberta CEO Ed Stelmach leads his party in decline. He can't manage a simple job, that is to provide good governance. Instead he and his cabinet rely on tired old neo-con ideology to deny Albertans responsible government; like they have over rent controls. Which has led to this.

The Alberta Progressive Conservative party's approval rating has fallen to 39 per cent from 54 per cent in September 2006, according to a Leger Marketing poll being released today.

This is no longer the Party of Calgary, Eddie has alienated them. This is the party of special interests like Real Estate Income Trusts and Big Oil.

A month after Alberta's finance minister fretted that raising resource royalties could reduce the billions fuelling the province's treasury, Premier Ed Stelmach told energy producers the ongoing royalty review must restore public confidence in the system's fairness.
CAPP president Pierre Alvarez said despite the frustrations voiced during the Tory leadership race, few regular Albertans have turned out to the public meetings for the royalty review.
"What's struck me is when you go to the (public meetings), 80 per cent of them are industry and service companies," said Alvarez.
Energy Board bars MLA
down in Rimbey, our elected representatives can't get their foot in the door of a so-called public hearing into a new Calgary-Edmonton transmission line run by the Alberta Energy and Utilities Board.
Even worse, the AEUB admitted it hired plainclothes private eyes to blend in with the crowd and spy on protesting farmers barred from the proceedings.
Unbelievably, Stelmach saw nothing wrong with the public energy regulator's spying on Albertans involved in a public hearing, citing security reasons.

SEE:
Drumheller Bell Weather

Find blog posts, photos, events and more off-site about:
Alberta, Calgary, Edmonton, Dundee REIT, housing, rental, condominium, apartment, Boardwalk Reality, Income Trusts, rent controls, homelessness, housing-costs, housing-boom, Alberta, ED Stelmach,
Premier, Alberta Cabinet,PC, Party of Calgary, politics, leadership, Conservatives
lberta, Premier,
Alberta Cabinet, Harry Strom, Ed Stelmach,
Social Credit,Socreds, PC, Calgary, Party of Calgary, politics, leadership, Conservatives, Edmonton, One Party State,History, Politics, Economics,leadership, politics, PC,
Alberta, Liberals, MLA, Taft,