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	<title>Comments on: SEC petitioned to issue guidance on &#8216;potentially false and misleading statements&#8217; on global warming</title>
	<atom:link href="http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/feed/" rel="self" type="application/rss+xml" />
	<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/</link>
	<description>The world&#039;s most viewed site on global warming and climate change</description>
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		<title>By: jeez</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27761</link>
		<dc:creator><![CDATA[jeez]]></dc:creator>
		<pubDate>Sun, 27 Jul 2008 04:46:11 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27761</guid>
		<description><![CDATA[Robert Wood, no replies yet.]]></description>
		<content:encoded><![CDATA[<p>Robert Wood, no replies yet.</p>
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		<title>By: Philip_B</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27619</link>
		<dc:creator><![CDATA[Philip_B]]></dc:creator>
		<pubDate>Sat, 26 Jul 2008 00:16:40 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27619</guid>
		<description><![CDATA[I&#039;ve been waiting for this for a while.

&lt;i&gt;”“False and/or misleading statements on material matters may violate the anti-fraud provision of the federal securities laws&lt;/i&gt;

Not may, but do.

Guidance from the SEC will set the scene for court challenges to the numerous claims being made about AGW. And as we know, AGW claims haven&#039;t faired very well in court.

Note, while other countries have SEC equivalents, their rules are less strict and less specific. So this kind of challenge can only occur in the USA.]]></description>
		<content:encoded><![CDATA[<p>I&#8217;ve been waiting for this for a while.</p>
<p><i>”“False and/or misleading statements on material matters may violate the anti-fraud provision of the federal securities laws</i></p>
<p>Not may, but do.</p>
<p>Guidance from the SEC will set the scene for court challenges to the numerous claims being made about AGW. And as we know, AGW claims haven&#8217;t faired very well in court.</p>
<p>Note, while other countries have SEC equivalents, their rules are less strict and less specific. So this kind of challenge can only occur in the USA.</p>
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		<title>By: Pamela Gray</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27608</link>
		<dc:creator><![CDATA[Pamela Gray]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 22:21:33 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27608</guid>
		<description><![CDATA[If this all comes about, an investor should carefully read the prospectus I believe is required as part of the agreement to invest in this sort of thing.  Risk analysis would also put this at a higher risk than normal due to the continued controversy and the overly broad band of error in model predictions.  If they want to take the investment risk and then lose their shirts, oh well.  I also don&#039;t see this going into blue chip territory.  The outcome is too uncertain.  It&#039;s a get rich quick scheme and a sucker is born every minute.]]></description>
		<content:encoded><![CDATA[<p>If this all comes about, an investor should carefully read the prospectus I believe is required as part of the agreement to invest in this sort of thing.  Risk analysis would also put this at a higher risk than normal due to the continued controversy and the overly broad band of error in model predictions.  If they want to take the investment risk and then lose their shirts, oh well.  I also don&#8217;t see this going into blue chip territory.  The outcome is too uncertain.  It&#8217;s a get rich quick scheme and a sucker is born every minute.</p>
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		<title>By: retired engineer</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27550</link>
		<dc:creator><![CDATA[retired engineer]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 17:34:24 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27550</guid>
		<description><![CDATA[It might be more appropriate to petition the Federal Trade Commission. The SEC doesn&#039;t care much about advertising. They may wish to look into some of the claims of a certain Global Warmist who talks about his (unregistered) carbon credit trading company.

junkscience.com is very much on top of the bogus DDT scare.]]></description>
		<content:encoded><![CDATA[<p>It might be more appropriate to petition the Federal Trade Commission. The SEC doesn&#8217;t care much about advertising. They may wish to look into some of the claims of a certain Global Warmist who talks about his (unregistered) carbon credit trading company.</p>
<p>junkscience.com is very much on top of the bogus DDT scare.</p>
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		<title>By: Captain Obviousness</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27540</link>
		<dc:creator><![CDATA[Captain Obviousness]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 16:57:12 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27540</guid>
		<description><![CDATA[Generally the SEC is only concerned with false statements that would affect a reasonable person&#039;s decision to buy the security.  I don&#039;t see how a company making the statement &quot;man made CO2 causes global warming&quot; would be a material factor in any reasonable person&#039;s decision to buy that company&#039;s stock, and I don&#039;t see how it would affect the price of the stock.  Also, the SEC is generally looking for statements that are intended to deceive or that are known to be false.  Presumably these companies believe in AGW and therefore they are not making statements they know to be false.  I&#039;d be shocked if the SEC didn&#039;t just ignore this petition, particularly when the mainstream position is still that AGW is real.]]></description>
		<content:encoded><![CDATA[<p>Generally the SEC is only concerned with false statements that would affect a reasonable person&#8217;s decision to buy the security.  I don&#8217;t see how a company making the statement &#8220;man made CO2 causes global warming&#8221; would be a material factor in any reasonable person&#8217;s decision to buy that company&#8217;s stock, and I don&#8217;t see how it would affect the price of the stock.  Also, the SEC is generally looking for statements that are intended to deceive or that are known to be false.  Presumably these companies believe in AGW and therefore they are not making statements they know to be false.  I&#8217;d be shocked if the SEC didn&#8217;t just ignore this petition, particularly when the mainstream position is still that AGW is real.</p>
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		<title>By: Jon Jewett</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27538</link>
		<dc:creator><![CDATA[Jon Jewett]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 16:40:48 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27538</guid>
		<description><![CDATA[Jeez,

Your somewhat snippy exchange with the Canadian above brought to mind what must be the high personal cost to you (in time) and the worth to me of this blog.

I’ve sent you some more money.

Regards,

Steamboat Jack

&lt;strong&gt;REPLY:&lt;/strong&gt; Just for clarification, Jeez helps me, Anthony, the site operator, as a volunteer moderator. But I&#039;ll make sure he gets some of the kind help you&#039;ve provided when I visit him in SFO. Your are correct, there is a high cost in personal time. Thanks so much for your kind and thoughtful support.

&lt;strong&gt;REPLY 2:&lt;/strong&gt; Your thoughtfulness is much appreciated~jeez]]></description>
		<content:encoded><![CDATA[<p>Jeez,</p>
<p>Your somewhat snippy exchange with the Canadian above brought to mind what must be the high personal cost to you (in time) and the worth to me of this blog.</p>
<p>I’ve sent you some more money.</p>
<p>Regards,</p>
<p>Steamboat Jack</p>
<p><strong>REPLY:</strong> Just for clarification, Jeez helps me, Anthony, the site operator, as a volunteer moderator. But I&#8217;ll make sure he gets some of the kind help you&#8217;ve provided when I visit him in SFO. Your are correct, there is a high cost in personal time. Thanks so much for your kind and thoughtful support.</p>
<p><strong>REPLY 2:</strong> Your thoughtfulness is much appreciated~jeez</p>
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		<title>By: Scott Covert</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27524</link>
		<dc:creator><![CDATA[Scott Covert]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 15:02:54 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27524</guid>
		<description><![CDATA[Yes, it looks like Pandora&#039;s box. Don&#039;t make someone give up free speech or they will use the same law to take away yours.

Malicious intent must be present and proved, not just percieved by someone with a different opinion.]]></description>
		<content:encoded><![CDATA[<p>Yes, it looks like Pandora&#8217;s box. Don&#8217;t make someone give up free speech or they will use the same law to take away yours.</p>
<p>Malicious intent must be present and proved, not just percieved by someone with a different opinion.</p>
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		<title>By: George Bruce</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27522</link>
		<dc:creator><![CDATA[George Bruce]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 14:53:07 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27522</guid>
		<description><![CDATA[Securities fraud is securities fraud.    Promoters hustling securities with false statements is nothing new.   Each generations has a new crop of crooks.   Sometimes we put them in jail.    Sometimes we call them Senator.]]></description>
		<content:encoded><![CDATA[<p>Securities fraud is securities fraud.    Promoters hustling securities with false statements is nothing new.   Each generations has a new crop of crooks.   Sometimes we put them in jail.    Sometimes we call them Senator.</p>
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		<title>By: JP</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27499</link>
		<dc:creator><![CDATA[JP]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 11:12:33 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27499</guid>
		<description><![CDATA[The potential for mischief is great. I always wondered how this sordid affair (Climate Change as it is now called) will turn out. From insurance companies, Cap and Trade companies to  the future&#039;s markets, the is money to be had. At some point someone is going to get nailed for fraud. Unfortunately, there will be an plethora of scientists who will get caught up in these schemes.  We are now a nation, not of laws, but of lawyers. Some investor or property owner will get burned financially and will file suit. Who knows, maybe even ALGORE or Hansen will be named in the suit along with NASA or the UN. We&#039;ve already seen many corn farmers cash in.]]></description>
		<content:encoded><![CDATA[<p>The potential for mischief is great. I always wondered how this sordid affair (Climate Change as it is now called) will turn out. From insurance companies, Cap and Trade companies to  the future&#8217;s markets, the is money to be had. At some point someone is going to get nailed for fraud. Unfortunately, there will be an plethora of scientists who will get caught up in these schemes.  We are now a nation, not of laws, but of lawyers. Some investor or property owner will get burned financially and will file suit. Who knows, maybe even ALGORE or Hansen will be named in the suit along with NASA or the UN. We&#8217;ve already seen many corn farmers cash in.</p>
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		<title>By: jeez</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27494</link>
		<dc:creator><![CDATA[jeez]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 09:41:22 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27494</guid>
		<description><![CDATA[Any Canadian who wants to contact Robert Wood and put together a Canadian coalition, please post in this thread and include the word &quot;jeezhelp&quot; so that I may search and consolidate email addresses for him simply.  Please make sure that your legitimate email address is in place.

Charles the moderator.]]></description>
		<content:encoded><![CDATA[<p>Any Canadian who wants to contact Robert Wood and put together a Canadian coalition, please post in this thread and include the word &#8220;jeezhelp&#8221; so that I may search and consolidate email addresses for him simply.  Please make sure that your legitimate email address is in place.</p>
<p>Charles the moderator.</p>
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		<title>By: Przemysław Pawełczyk (P2O2)</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27493</link>
		<dc:creator><![CDATA[Przemysław Pawełczyk (P2O2)]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 09:34:57 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27493</guid>
		<description><![CDATA[Hi,

The carbon market as I see is being introduced now into US economy with the help of a clear back-door strategy. What is not easily possible to achieve by Liberman-Warner bill as it faces lawmakers opposition, both from the left and the right, is being pushed ahead by bypassing American law. But what you are not discussing is a broader view of the topic.

It&#039;s part of bigger picture. Once California put the scheme into fabrics of economy it will make a precedence which could be used as a weapon against opponents of carbon market. Of course there are more issues at stake - for example: testing possibilities in manipulation of American people&#039;s minds, and __money__. The main goal of Kyoto deals and all follow-ups, is to control every aspect of NEW Economy in a Making. Global warming is an excellent live experimental laboratory how far people will get rid of their freedoms to those who want to rule the world. And global carbon market is an important part in this scheme.

Let me quote myself from the comments to point 2) (below):
Any &quot;cap and trade&quot; system is a &quot;money generator&quot; without production and with ZERO investment! Who do you think will benefit at the expense of the whole American society (thru higher prices)? You know the answer very well. :)

Whether the SEC will answer this or that is immaterial in the light of my comment. I could only add that they will do every possible nefarious deeds to get the spoils (money for nothing). (Maybe with the help of SEC as well, who knows?) 

Regards,
Przemysław Pawełczyk

1) A terse description of Liberman-Warner bill: 
Warner-Lieberman bill could raise gas prices
http://thehill.com/business--lobby/warner-lieberman-bill-could-raise-gas-prices-2008-05-19.html

2) My comments to :
Opening Statement of Senator James Inhofe Senate Environment and Public Works Full Committee An Update on the Science of Global Warming and its Implications
http://p2o2.blogspot.com/2008/07/how-socialism-is-being-built-in-usa_22.html]]></description>
		<content:encoded><![CDATA[<p>Hi,</p>
<p>The carbon market as I see is being introduced now into US economy with the help of a clear back-door strategy. What is not easily possible to achieve by Liberman-Warner bill as it faces lawmakers opposition, both from the left and the right, is being pushed ahead by bypassing American law. But what you are not discussing is a broader view of the topic.</p>
<p>It&#8217;s part of bigger picture. Once California put the scheme into fabrics of economy it will make a precedence which could be used as a weapon against opponents of carbon market. Of course there are more issues at stake &#8211; for example: testing possibilities in manipulation of American people&#8217;s minds, and __money__. The main goal of Kyoto deals and all follow-ups, is to control every aspect of NEW Economy in a Making. Global warming is an excellent live experimental laboratory how far people will get rid of their freedoms to those who want to rule the world. And global carbon market is an important part in this scheme.</p>
<p>Let me quote myself from the comments to point 2) (below):<br />
Any &#8220;cap and trade&#8221; system is a &#8220;money generator&#8221; without production and with ZERO investment! Who do you think will benefit at the expense of the whole American society (thru higher prices)? You know the answer very well. :)</p>
<p>Whether the SEC will answer this or that is immaterial in the light of my comment. I could only add that they will do every possible nefarious deeds to get the spoils (money for nothing). (Maybe with the help of SEC as well, who knows?) </p>
<p>Regards,<br />
Przemysław Pawełczyk</p>
<p>1) A terse description of Liberman-Warner bill:<br />
Warner-Lieberman bill could raise gas prices<br />
<a href="http://thehill.com/business--lobby/warner-lieberman-bill-could-raise-gas-prices-2008-05-19.html" rel="nofollow">http://thehill.com/business&#8211;lobby/warner-lieberman-bill-could-raise-gas-prices-2008-05-19.html</a></p>
<p>2) My comments to :<br />
Opening Statement of Senator James Inhofe Senate Environment and Public Works Full Committee An Update on the Science of Global Warming and its Implications<br />
<a href="http://p2o2.blogspot.com/2008/07/how-socialism-is-being-built-in-usa_22.html" rel="nofollow">http://p2o2.blogspot.com/2008/07/how-socialism-is-being-built-in-usa_22.html</a></p>
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		<title>By: twawki</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27486</link>
		<dc:creator><![CDATA[twawki]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 08:05:06 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27486</guid>
		<description><![CDATA[climate rationalism will prevail over climate alarmism

and the new media (net, blogs, etc) will prevail over the sensationalism of the old media]]></description>
		<content:encoded><![CDATA[<p>climate rationalism will prevail over climate alarmism</p>
<p>and the new media (net, blogs, etc) will prevail over the sensationalism of the old media</p>
]]></content:encoded>
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		<title>By: Mike Borgelt</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27471</link>
		<dc:creator><![CDATA[Mike Borgelt]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 04:23:20 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27471</guid>
		<description><![CDATA[Smokey,

I guess all the pipe threads were left hand???]]></description>
		<content:encoded><![CDATA[<p>Smokey,</p>
<p>I guess all the pipe threads were left hand???</p>
]]></content:encoded>
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		<title>By: Smokey</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27456</link>
		<dc:creator><![CDATA[Smokey]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 02:34:58 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27456</guid>
		<description><![CDATA[The current ad campaign in California by Pacific Gas &amp; Electricity [PG&amp;E] has a catch line in every ad: &lt;i&gt;&quot;Global warming is a choice.&quot;&lt;/i&gt;

Glaring false advertising, and deliberate misrepresentation, no? Is global cooling a choice, too? Is solar irradiance a choice? El Nino? The PDO? 

I recall that the last nuclear power plant that PG&amp;E tried to build in the &#039;70&#039;s, their hotshot managers inadvertently flipped the entire blueprint set, and built everything backwards. The plant never went online. The current PG&amp;E ad writers must be their linear descendants.]]></description>
		<content:encoded><![CDATA[<p>The current ad campaign in California by Pacific Gas &amp; Electricity [PG&amp;E] has a catch line in every ad: <i>&#8220;Global warming is a choice.&#8221;</i></p>
<p>Glaring false advertising, and deliberate misrepresentation, no? Is global cooling a choice, too? Is solar irradiance a choice? El Nino? The PDO? </p>
<p>I recall that the last nuclear power plant that PG&amp;E tried to build in the &#8217;70&#8242;s, their hotshot managers inadvertently flipped the entire blueprint set, and built everything backwards. The plant never went online. The current PG&amp;E ad writers must be their linear descendants.</p>
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		<title>By: Bobby Lane</title>
		<link>http://wattsupwiththat.com/2008/07/24/sec-petitioned-to-issue-guidance-on-potentially-false-and-misleading-statements-on-global-warming/#comment-27453</link>
		<dc:creator><![CDATA[Bobby Lane]]></dc:creator>
		<pubDate>Fri, 25 Jul 2008 02:25:30 +0000</pubDate>
		<guid isPermaLink="false">http://wattsupwiththat.wordpress.com/?p=1832#comment-27453</guid>
		<description><![CDATA[A good exposure job on a scam designed to corral business, and thus the general public, by the force of regulatory agencies since the AGW crowd cannot get what it wants from the US Government as yet.  Has anyone given thought to how this violates the First Amendment right to freedom of speech?  Oh, I know there are plenty of ways to find one&#039;s way around that seemingly, but it nevertheless does violate, in my view, the First Amendment by restricting speech.  If the SEC rules against that petition, one would HAVE to endorse the AGW hypothesis or risk being banned from the airwaves.  Also, I think those businesses who endorse it either do so for PR concerns, or they smell money in it at some future point (aka cap and trade).  Few things more sinister in my mind than to monetarily reward a business for cutting CO2 by putting people out of work to reduce its carbon footprint while at the same time making it more &#039;profitable.&#039;]]></description>
		<content:encoded><![CDATA[<p>A good exposure job on a scam designed to corral business, and thus the general public, by the force of regulatory agencies since the AGW crowd cannot get what it wants from the US Government as yet.  Has anyone given thought to how this violates the First Amendment right to freedom of speech?  Oh, I know there are plenty of ways to find one&#8217;s way around that seemingly, but it nevertheless does violate, in my view, the First Amendment by restricting speech.  If the SEC rules against that petition, one would HAVE to endorse the AGW hypothesis or risk being banned from the airwaves.  Also, I think those businesses who endorse it either do so for PR concerns, or they smell money in it at some future point (aka cap and trade).  Few things more sinister in my mind than to monetarily reward a business for cutting CO2 by putting people out of work to reduce its carbon footprint while at the same time making it more &#8216;profitable.&#8217;</p>
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