[LINK] RFC: eCommerce Perspective on Carbon Trading

[stephen at melbpc.org.au]

>> Haven't read our government's December White Paper, but would strongly
>> opinion we do NOT allow banks and brokers as carbon-credit speculators.
>> It happened with local water-rights & imho, Japan will regret allowing
>> their banks entry. I wonder, have you formed an opinion regarding this?
> 
> My 'academic' papers are frequently criticised for straying too far 
> into policy position statements, so I left those parts pretty vague.

Understand :) tho we 'will' need to consider carbon-rights speculation.

With our water-rights system, with intense speculation, farmers who are
folk who 'must' have water, can't buy more because of highly speculated
prices and water rights being held by groups with NO connection to land.

It's wrong imho, they bought water just to sit on, and to screw farmers.

I would bet these same bastards would be delighted to buy carbon rights.


> Personally, my insufficiently considered position is that:
> 
> -   all derivatives that are not transparent should be illegal
>      (but options and futures are pretty clearly defined instruments)
> 
> -   all uncovered short-selling should be banned
>      (Justifying white-collar and corporate gambling on the basis that
>      it delivers market depth overlooks the substantial implications
>      for price-volatility and non-self-equilibrating positive feedback
>      i.e. runaway, bandwagon effect)

Yes i think uncovered short selling, the mainstay of hedge-funds, is evil.

> And I'm not just talking about carbon, or shares in financial 
> services corporations, or gambling by financial institutions;  I mean 
> across the board(s).
> 
> The Japanese material's useful, thanks Stephen.  (The extended paper 
> will be looking at particular schemes in more detail).


Yes, the Japanese experience will be instructive for Australia. But, can
i suggest again that carbon-trading should have a 100% environment focus
and not be another banker & broker betting-ring. With water, it's either
there, or it isn't .. but with carbon, when an industry complains to the
Japanese Gov that it can't buy needed carbon emission rights.. what's to 
stop the government, under pressure, simply issuing more carbon credits?  

But what would i know, other than Vic had its hottest day ever yesterday.

Cheers, R
Stephen


> 
> -- 
> Roger Clarke                  http://www.anu.edu.au/people/Roger.Clarke/
> 
> Xamax Consultancy Pty Ltd      78 Sidaway St, Chapman ACT 2611 AUSTRALIA
>                     Tel: +61 2 6288 1472, and 6288 6916
> mailto:Roger.Clarke at xamax.com.au                http://www.xamax.com.au/
> 
> Visiting Professor in Info Science & Eng  Australian National University
> Visiting Professor in the eCommerce Program      University of Hong Kong
> Visiting Professor in the Cyberspace Law & Policy Centre      Uni of NSW
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