Re: [OPE] Environment with derivatives

From: Patrick Bond <>
Date: Wed Oct 15 2008 - 13:35:46 EDT

Here's hoping that the financial fry up also short-circuits the
emissions market. They were just beginning to build up substantial
carbon derivatives markets. But in the build-up to Copenhagen next year
we'll see if the market can be revived, and whether climate justice
activists can shut down Copenhagen, an entirely appropriate strategy I

Gerald Levy wrote:
> Hi Jurriaan:
> I don't think there's going to be any agreement among capitalist
> nations about
> environmental policies until AFTER the next expansion is well under
> way - and,
> by that time, the global environment will be worse and the climate may
> be beyond the "tipping point". Until there is once again expanded
> capitalist
> reproduction, they will put all social and environmental concerns and
> possible
> reforms which don't directly contribute to capital accumulation "on
> the back burner".
> See:
> If there is to be agreement on effective environmental action or social
> reforms (e.g. to deal with global inequality) in the immediate period
> ahead
> then activists and large segments of the working class and global poor
> will have to first turn up the heat, imo.
> In solidarity, Jerry
> > A socialist however would pose the question: who really pays for the
> crisis?
> > More specifically, who pays the price for insuring the environmental
> risk? One
> > thing you can be sure of, a whole bunch of people are going to keep
> consuming
> > like there's no tomorrow anyway, they have to do something with all
> their funds.
> > The advantages of the markets devolve on those with a strong
> bargaining position,
> > and the disadvantages devolve on the weak. A "general" cost-benefit
> analysis will
> > not reveal this, because its accounts do not reveal who exactly gets
> the benefits,
> > and who is burdened with the costs.
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Received on Wed Oct 15 13:40:23 2008

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