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Public Ignorance Facilitates Un Democratic Change In Kentucky

by Richard Lewis

Kentucky citizens have little or no awareness of the creation of an internationally recognized trading system for CO2 credits, which, if allowed to take root in the U.S., will have a great impact on their lives, particularly since Kentucky is a coal-producing state.  While foreign citizens are debating the merits of pollution credits and how credit trading plans in Australia will or will not comply with plans being developed by State Governments within these United States, and while CO2 cap and trade legislation has already passed or is moving through 15 state legislatures, the issue is barely recognized by the citizens of Kentucky. 

I recieved a call from an economist employed by the Kentucky Legislative Research Commission last week. He advised me that members of the Kentucky Senate had commissioned a study of cap and trade/pollution credits and asked if I had time to speak with him about pollution credits. Early in our conversation, I defined pollution credits as money. Without pollution credits, manufacturing businesses will not be able to operate, so these credits will be very valuable.  The economist said he agreed that credits are money. I asked him, “Is this new form of money authorized by the United States Constitution?” Remove a dollar bill from your wallet and read it:  "This Note Is Legal Tender For All Debts Public And Private".  Should our government be creating a new kind of money-- a new currency-- without public knowledge or approval and then simply give it to corporations?

A story in London's Financial Times estimated that C02 credits will be worth $13,000 Billion by 2050.

 http://www.envifi.com/News/ft110499.htm

California has already passed legislation authorizing control of Green house gas and according to a recent article they may give corporations C02 credits. Those credits represent real money and they can be sold or traded or converted to Dollars, Marks, Yen etc. [ read the article  http://www.scrippsnews.com/node/20066 ]

Why has there been no news coverage about this issue in Kentucky? The media and politicians routinely stress the need for improved education to enable our children to compete successfully in a global economy.  How will ignorance about financial issues that are routinely discussed in other countries help them compete? 

The Kentucky gubernatorial primary will be held soon, and our next Governor may feel pressured to sign legislation authorizing greenhouse gas credit trading in Kentucky, because Kentucky will have to compete with California and 14 other states offering valuable C02 carbon credits as incentives to major corporations like Ford Motor company and General Electric. 

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