Gains Of 30 Years Wiped Out

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It looks like the era of Global Warming is Over. Icecap reports:

Many scary stories have been written about the dangers of catastrophic global warming, allegedly due to increased atmospheric concentrations of the greenhouse gas carbon dioxide (CO2) from the combustion of fossil fuels. But is the world really catastrophically warming? NO. And is the warming primarily caused by humans? NO.

Since just January 2007, the world has cooled so much that ALL the global warming over the past three decades has disappeared! This is confirmed by a plot of actual global average temperatures from the best available source, weather satellite data that shows there has been NO net global warming since the satellites were first launched in 1979.

Since there was global cooling from ~1940 to ~1979, this means there has been no net warming since ~1940, is spite of an ~800% increase in human emissions of carbon dioxide. This indicates that the recent warming trend was natural, and CO2 is an insignificant driver of global warming.

Furthermore, the best fit polynomial shows a strong declining trend. Are we seeing the beginning of a natural cooling cycle? YES. Further cooling, with upward and downward variability, is expected because the Pacific Decadal Oscillation (PDO) has returned to its cool phase, as announced by NASA this year.

You know this is really terrible news for financial outfits like Lehman Brothers.

LONDON - Lehman Brothers shut down its carbon emissions trading desk after the bank filed for bankruptcy protection, a source close to the company told Reuters on Monday.

"Everything's stopped, blocked ... it's a bit anarchic," he said.

Lehman declined to comment on the matter.

Trouble ahead, trouble behind. And speaking of behind. Who was helping Lehman to make carbon trading popular?

Al Gore’s carbon trading business GIM was banked with Lehman Bros. It will be interesting to see how this will play in the future but I suspect that this increases the risk of participating in Carbon trading. Merrill Lynch was also deeply involved in this business.

Last year Lehman Brothers released a long and highly publicized report about climate change in which they preached about decarbonization, trying to make their investors keep getting high profits from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.

Last year Lehman Brothers released a long and highly publicized report about climate change in which they preached about decarbonization, trying to make their investors keep getting high profits from the Kyoto carbon trade scheme and the support of huge public subventions. All that, of course, with the applause of the usual choir of politicians, the entire media and the Greens.

A year ago they couldn’t predict their bankruptcy but were predicting the climate 100 years ahead. Thousands of green militants have been using the Lehman report as a proof of global warming and impending chaos. Lehman Bros said it! sacred words! Its scientific advisor is James Hansen!

Well what do you know? Gore and Hansen. Two of the most prestigious names in the Carbon Trading and Global Warming Science business. If you have any stock in those two guys now is the time to short it, before it goes to ∅.

Cross Posted at Classical Values