This is the fourth time that cap and trade has failed in the United States Senate and each of the votes there has barely been any support. By 2025, China will be the world leader in production and consumption of energy according to Webster Tarpley. He also says that the administration will rely on lame ducks who will make up Congress later this Fall.
WEBSTER TARPLEY BLOG tracking Historian, Author and Investigative Journalist Webster Tarpley recent interviews and articles . Tarpley is the author of numerous books, including Barack H. Obama: The Unauthorized Biography and Obama - The Postmodern Coup.
update, the new total derivative notional value totals are out, updated to July 1st, 2010 new total is $1.017 QUADRILLION dollars US, down around 25 trillion from January 1st, 2010 totals of 1.042 quadrillion dollars
ReplyDeleteNOT the 1.5 quadrillion total all keep repeating, nor the $600 trillion number from the Washington Post, which only used the BIS numbers, and ignored the ISDA numbers
BIS (exchange traded derivatives) are now at $583 trillion, down from 615 trilllion
http://www.bis.org/statistics/otcder/dt1920a.pdf
ISDA (non-exchange traded derivatives) are now at $434 trillion, up from $427
http://www.isda.org/statistics/pdf/ISDA-Market-Survey-historical-data.pdf
at least the reported numbers did not start to blow up towards the 2008 levels of $1.4 quadrillion