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Carbon-trading fraud exposed -- Carbon prices plummet

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posted on Dec, 22 2009 @ 01:58 PM

Carbon prices fall in wake of Copenhagen

Carbon prices plunged yesterday in the aftermath of the Copenhagen conference on climate change, dealing a blow to the credibility of the European Union's carbon-trading scheme.

Prices for carbon permits for December 2010 delivery, the benchmark contract for pricing European permits, dropped nearly 10 per cent in early trading, before recovering to end the day 8.3 per cent lower at €12.41.

Lower prices give companies less incentive to invest in cutting their greenhouse gas output. Analysts estimate that prices of more than €40 a tonne are required to stimulate investment in new low-carbon technologies.

Carbon credits have not ever met marketers' and speculators' hype. EU and UK consumers have been robbed by increased energy costs.

Now, they want the U.S. to experience the same misery.

Our carbon-trading schemes are nothing more than artifices to enrich traders.

Emmanuel Fages of Société Générale/orbeo said that carbon permit prices could drop as low as €10 in the first quarter of 2010 as market participants, which have been oversupplied with quotas, would know for certain how much carbon had been emitted in 2009.

The effects were also felt on the smaller market for United Nations-backed carbon credits, issued under the Kyoto protocol to projects that reduce emissions in developing countries.

California tried this and failed. Anyone remember the brownouts and huge energy price increases?

SO2 "trading" failed because producers switched to low-sulfur coal and natural gas. The "credits" were meaningless to the market and energy consumers.

Now, the EU and UK have to live with a system that requires them to import trees to power their "green" energy companies.

If we don't act with a little foresight, we'll share the same fate.

Deny ignorance!


[edit on 22-12-2009 by jdub297]

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