Carbon Credit Market Imploding

from Watts Up With That?

Anthony Watts writes:

“We knew this was coming. Carbon Financial Instruments are now trading for 10 cents per metric tonne on the Chicago Climate Exchange. I wonder if the investors are reacting to the Hockey Stick Implosion news? As reported on WUWT, less than one month ago it was 25 cents a tonne, and a year ago it was over 1 dollar. The all time high was May 2008 at over 7 dollars a tonne. Today: poof…

“…Anyone who was a founding member at 1 dollar has now lost 90% of their investment…”

Watts has several helpful charts and more information on his site.

At CAJ this news made us consider the sudden urgency with which Senators Boxer and Kerry are now moving to push the Cap and Trade bill through for passage this month and now we’re beginning to connect the dots. They, along with Al Gore, Speaker Pelosi, and others in Washington are heavily invested in emerging “green technology” according to credible news sources. They would likely lose their investments, wouldn’t they, if schemes such as the carbon credit markets go broke…? One contributer here said, “In any other business this would be called insider trading.

Comments are closed.