To: Maurice Winn who wrote (73061 ) 4/13/2011 6:11:09 AM From: elmatador Read Replies (1) | Respond to of 217652 We should be grateful for the economic cirsis 2007-2011. If that crisis had not struck. Can you imagine the amount of carbon trade crap we would be living with? Cris was good: It helped kill Greenism! With the creation of a market for mandatory trading of carbon dioxide emissions within the Kyoto Protocol, the London financial marketplace has established itself as the center of the carbon finance market, always the Brit wayo people!! and is expected to have grown into a market valued at $60 billion in 2007.[104][not in citation given] The voluntary offset market, by comparison, is projected to grow to about $4bn by 2010.[105] 23 multinational corporations came together in the G8 Climate Change Roundtable, a business group formed at the January 2005 World Economic Forum. The group included Ford, Toyota, British Airways, BP and Unilever. On June 9, 2005 the Group published a statement stating that there was a need to act on climate change and stressing the importance of market-based solutions. It called on governments to establish "clear, transparent, and consistent price signals" through "creation of a long-term policy framework" that would include all major producers of greenhouse gases.[106] By December 2007 this had grown to encompass 150 global businesses.[107] Business in the UK have come out strongly in support of emissions trading as a key tool to mitigate climate change, supported by NGOs.[108] However, not all businesses favor a trading approach. On December 11, 2008, Rex Tillerson, the CEO of Exxonmobil, said a carbon tax is "a more direct, more transparent and more effective approach" than a cap-and-trade program, which he said, "inevitably introduces unnecessary cost and complexity". He also said that he hoped that the revenues from a carbon tax would be used to lower other taxes so as to be revenue neutral.[109] The International Air Transport Association, whose 230 member airlines comprise 93% of all international traffic, position is that trading should be based on “benchmarking,” setting emissions levels based on industry averages, rather than “grandfathering,” which would use individual companies’ previous emissions levels to set their future permit allowances. They argue grandfathering “would penalise airlines that took early action to modernise their fleets, while a benchmarking approach, if designed properly, would reward more efficient operations".[110] Consider how clean the emerging markets grow this century as compare with the dirty growth of Europe, Japan, USSR and the US: see this table: energy use per unit of GDP tonnes of oil equivalent Message 27305202