In the 90s, there was the tech bubble burst.
Then two years ago, there was the housing bubble burst.
In the future, it can be carbon bubble burst.
One of the suspicious aspects of carbon rent-seeking, is the entry of some big banks that were just recently bailed-out or wobbled due to their participation in sophisticated housing derivatives and other financial instruments. Al Gore for instance, was working with some banks like Goldmach Sacchs in the US Congress lobby for the enactment of the carbon cap and trade bill.
Carbon cap and trade was worth $63 billion in 2007 and $128 billion in 2008. These were carbon trading only for private corporations in Europe, Japan, other industrialized countries excl the US because the US govt did not ratify the Kyoto Protocol.
After the Copenhagen meeting where no clear agreement of carbon emission cut was made, carbon prices collapsed, see here,
If Copenhagen meeting produced a Kyoto part 2 with ambitious goals of carbon cuts, and to include US corporations, $1 trillion/year in carbon cap and trade would be easy to reach. And the banks that lost money in the past housing bubble will jump into the new carbon bubble.
It's a bit weird, really. The gas that we exhale, the gas that our rice, flowers, fruits and trees need, CO2, is practically a non-commodity. But with AGW, it has become a commodity, an expensive one. And big banks, big politicians, big governments, big UN, big environmental groups, all of them jump into it.
Economic central planning already collapsed 20 years ago. The socialists in the west and other parts of the world were looking for something else to spend their energy on. They found it in AGW. They want global ecological central planning.
But scientific data and nature would not conform with their theory or claim. So some warming scientists twisted and manipulated data. Like what Michael Mann (Penn State U), Phil Jones (CRU) and others did. Now the lies were exposed. And the chilling Earth is becoming more vocal in saying that it has no fever.
Theory and data must conform with each other. In any event that they contradict, theory must give way and data must prevail. In which case, the "theory" would revert back to being a mere hypothesis, would require another battery of tests to be validated or invalidated.
One problem with AGW or "man-caused climate change" claim, is the heavy presence and intervention of the UN and most governments. I think there is ONLY one government in the world that did not ride on the AGW scam, Czech Republic. Because its president, Vaclav Klaus, perfectly saw the scam and its direction -- ecological central planning. Or ecological socialism. Mr. Klaus saw the evil of socialism up close because Czech Rep was formerly a communist state for more than 4 decades.
The UN is composed of governments.
And governments are composed of politicians and bureaucrats.
And most politicians and bureaucrats are not hiding their hunger for taxes, regulations and power.
And the main proponents of AGW are the UN and many governments.
So connect the dots.
Finally, there is truth to the statement, "IPCC and Al Gore reports are political science, not climate science."