Letter to the Editor

Reader says stop Cap and Trade

Sunday, May 16, 2010

To the Editor:

Have you ever heard of CCX (Climate Change Exchange)? This is an exchange in Chicago similar to the Commodity exchange.

This exchange has been set up by some in this presidential administration, Al Gore, Goldman Sachs, along with a few more people.

The purpose of this exchange is to buy and sell carbon credits and maybe some other contaminants if the Cap and Trade bill is passed by Congress or as some call it, the Energy Bill.

Why would someone start this Exchange? Money! It may be possible to receives tens of trillions of dollars. This would depend on the amount of buying and selling of carbon credits.

How many credits will be traded depends on companies that are told they are putting out more CO2 than is allowed or they use less than the amount allowed. Every exchange will require a small fee. When thousands of transactions are made in a short time, generous amounts of funds will be acquired.

The commodity exchange deals in actual products, such as grains, other food products, energy products (oil and coal) and metals. The New York exchange deals in shares of companies. This exchange deals in no products and no article of production.

All businesses that are involved in production or in transportation or receive or send a product or service will be concerned with contaminants. This means that everyone will have extra costs and will pass these on to the consumer or client. At the same time, this cost will not change the amount of contaminants in the air.

This is a fraud on the American people and will not change anything in the air and those that have cooked this up will benefit by receiving money for something that does not do any good for the general population.

Yes, we need an energy bill, but we do not need caps put on with the intent of buying and selling credits in an exchange. Remember the government will be the one to determine who needs to cut CO2 or other contaminants and will have extra credits.

Let your congressman and senators know you are against cap and trade.

Roberta Buell,

Bowling Green