Predatory “Green Capitalism” Is Monetizing the Air, and It’s Going to Cost You
Predatory “Green Capitalism” Is Monetizing the Air, and It’s Going to Cost You by Charles Hugh Smith for Of Two Minds
You want to reduce CO2? Then trigger a global depression that reduces global consumption of everything by 50% and destroys 95% of the phantom wealth owned by the global elites trying to monetize the air.
I recently asked What’s Left to Monetize?, and longtime correspondent Mark G. provided the answer: the air we breathe, via carbon taxes and markets for trading carbon credits, i.e. financializing / monetizing Nature to benefit the few at the expense pf the many.
Here’s Mark’s commentary:
You asked, “What’s left to monetize? It appears the answer is ‘very little.'”
I respectfully disagree. The Biggest Enchilada of all is left. Air. Specifically carbon dioxide, CO2. We just have to figure how to get the yokels to agree to pay for that which was formerly free. Got it! First we browbeat them into believing its evil and that we have to tax it to save all life on Earth. Then, following in the finest traditions of the degenerate late medieval Catholic Church, we’ll commission sellers of “Indulgences” to allow sinning at ever rising prices. a/k/a “Carbon Credit trading”. This doesn’t require any value added and the profits on “buy zero sell high” are limitless.
This is the specific outline and the very same agencies that so love financialization of all kinds, $2 trillion dollar student debt to sustain obscenely paid college administrators and academics, endless academic credentialism and huge Hipster Cities sitting on container ports and mediating the China Trade, are all promoting this financialization of CO2 as hard as possible.
This is why a nullity like the Paris Climate Accords continues to be pushed even after its proven every way possible that a) the biggest emitters like China and India won’t adhere to them and b) even if they did the prescribed regimes will do nothing anyway.
And its why I “don’t believe” in it. Or rather, its why I believe its just the next and biggest financial scam.
Thank you, Mark, for answering my naive question: of course Wall Street and the Davos Crowd are salivating over the hundreds of billions of profits to be skimmed from carbon taxes and trading. Not that corporations, financiers or billionaires will pay the carbon taxes; they will be passed on to consumers of everything that emits CO2, i.e. pretty much everything, including us of course.
Never mind that plant life needs CO2, and that planting trees could soak up the carbon at a fraction of the cost of neoliberal carbon taxes/credits; the goal of the “environmentalists” flying in on their private jets isn’t to actually reduce CO2–it’s to engineer a new source of rentier profits via monetizing / financializing CO2.
Here’s the neoliberal fantasy that’s being sold and sold hard: making a market for carbon credits etc. will magically cause those paying more for emitting carbon to emit less.
This is the Neoliberal Skim/Scam: privatizing what was once free and funneling the profits to the few at the expense of the many. Call it rentier, call it exploitation, call it predatory– all are accurate.
So streets that once offered free parking now have parking meters that have been privatized to benefit private-sector corporations.