|Obama’s involvement in Chicago Climate Exchange--the rest of the story
Free Press | March 25, 2009
Good news to know that the truth will always out--even when you’re Barack Obama.
“Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress” is a FOXNews story by Ed Barnes. In short, “While on the board of a Chicago-based charity, Barack Obama helped fund a carbon trading exchange that will likely play a critical role in the cap-and-trade carbon reduction program he is now trying to push through Congress as president.”
The charity was the Joyce Foundation on whose board of directors Obama served and which gave nearly $1.1 million in two separate grants that were “instrumental in developing and launching the privately-owned Chicago Climate Exchange, which now calls itself “North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.”
And that’s only the beginning of this tawdry tale, Mr. Barnes.
The “privately-owned” Chicago Climate Exchange is heavily influenced by Obama cohorts Al Gore and Maurice Strong.
For years now Strong and Gore have been cashing in on that lucrative cottage industry known as man-made global warming.
Strong is on the board of directors of the Chicago Climate Exchange, Wikipedia-described as “the world’s first and North America’s only legally binding greenhouse gas emission registry reduction system for emission sources and offset projects in North America and Brazil.”
Gore, self-proclaimed Patron Saint of the Environment, buys his carbon off-sets from himself--the Generation Investment Management LLP, “an independent, private, owner-managed partnership established in 2004 with offices in London and Washington, D.C., of which he is both chairman and founding partner. The Generation Investment Management business has considerable influence over the major carbon credit trading firms that currently exist, including the Chicago Climate Exchange.
Strong, the silent partner, is a man whose name often draws a blank on the Washington cocktail circuit. Even though a former Secretary General of the 1992 United Nations Conference on Environment and Development (the much hyped Rio Earth Summit) and Under-Secretary General of the United Nations in the days of an Oil-for-Food beleaguered Kofi Annan, the Canadian born Strong is little known in the United States. That’s because he spends most of his time in China where he he has been working to make the communist country the world’s next superpower. The nondescript Strong, nonetheless is the big cheese in the underworld of climate change and is one of the main architects of the failing Kyoto Protocol.
Full credit for the expose on the business partnership of Strong and Gore in the cap-and-trade reduction scheme should go to the investigative acumen of the Executive Intelligence Review (EIR).
The tawdry tale of the top two global warming gurus in the business world goes all the way back to Earth Day, April 17, 1995 when the future author of “An Inconvenient Truth” travelled to Fall River, Massachusetts, to deliver a green sermon at the headquarters of Molten Metal Technology Inc. (MMTI). MMTI was a firm that proclaimed to have invented a process for recycling metals from waste. Gore praised the Molten Metal firm as a pioneer in the kind of innovative technology that can save the environment, and make money for investors at the same time.
“Gore left a few facts out of his speech that day,” wrote EIR. “First, the firm was run by Strong and a group of Gore intimates, including Peter Knight, the firm’s registered lobbyist, and Gore’s former top Senate aide.”
(Fast-forward to the present day and ask yourself why it is that every time someone picks up another Senate rock, another serpent comes slithering out).
“Second, the company had received more than $25 million in U.S. Department of Energy (DOE) research and development grants, but had failed to prove that the technology worked on a commercial scale. The company would go on to receive another $8 million in federal taxpayers’ cash, at that point, its only source of revenue.
“With Al Gore’s Earth Day as a Wall Street calling card, Molten Metal’s stock value soared to $35 a share, a range it maintained through October 1996. But along the way, DOE scientists had balked at further funding. When in March 1996, corporate officers concluded that the federal cash cow was about to run dry, they took action: Between that date and October 1996, seven corporate officers--including Maurice strong--sold off $15.3 million in personal shares in the company, at top market value. On Oct. 20, 1996--a Sunday--the company issued a press release, announcing for the first time, that DOE funding would be vastly scaled back, and reported the bad news on a conference call with stockbrokers.
“On Monday, the stock plunged by 49%, soon landing at $5 a share. By early 1997, furious stockholders had filed a class action suit against the company and its directors. Ironically, one of the class action lawyers had tangled with Maurice strong in another insider trading case, involving a Swiss company called AZL Resources, chaired by Strong, who was also a lead shareholder. The AZL case closely mirrored Molten Metal, and in the end, Strong and the other AZL partners agreed to pay $5 million to dodge a jury verdict, when eyewitness evidence surfaced of Strong’s role in scamming the value of the company stock up into the stratosphere, before selling it off.
In 1997, Strong went on to accept from Tongsun Park, who was found guilty of illegally acting as an Iraqi agent, $1 million from Saddam Hussein, which was invested in Cordex Petroleum Inc., a company he owned with his son, Fred.
These are the leaders in the Man-made Global Warming Movement, who three years later were to be funded by the man who was to become President of the United States of America.
If we follow the time line on where Obama was during the funding of the Chicago Climate Exchange, he was still a professor at the University of Chicago Law School teaching constitutional law, with his law license becoming inactive a year later in 2002.
It may be interesting to note that the Chicago Climate Exchange in spite of its hype, is a veritable rat’s nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs. Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also funded money for John Ayers’ Chicago School Initiatives. John is the brother of William Ayers.
What a flap when it was discovered that the senator from Chicago had nursed on Saul Alinsky’s milk, had his political career launched at a coffee party held by domestic terrorist Bill Ayers, and sat for 20 years, uncomplaining in front of the “God-dam-America pulpit of resentment-challenged Jeremiah Wright.
Folk were naturally outraged that the empty suit who would go on to become TOTUS was spawned from such anti-American activism.
But the media should have been hollering, “Stop Thief!” instead.
The same Chicago Climate Exchange promoting public rip-off was funded by Obama before he was POTUS.
Even as man-made global warming is being exposed as a money-generating hoax, Obama is working feverishly to push the controversial cap-and-trade carbon reduction scheme through Congress.
Obama was never the character he created for himself in the fairy-tale version in “Dreams of My Father”. He’s the agent of Change and Hope for cohorts making money down at the Chicago Climate Exchange.
The Barbarians are pushing at the gate of the Global Warming fraud, and to borrow a line from children playing Hide and Seek, Here they come, ready or not!