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I wrote a few weeks ago that The only lower price than today’s closing price on a ton of carbon is ZERO. That’s true now more than ever. See the chart below from yesterday’s close of the Chicago Climate Exchange: [snip] And it’s still crashing. Last week the Chicago Climate Exchange (CCX) announced that they were scrapping the existing carbon trading program, and focusing on a new one that deals with directly sold carbon offsets rather than open trading.

Public carbon trading dead in the USA Posted on November 8, 2010 by Anthony Watts Gore’s grand experiment has flatlined. As we reported almost two weeks ago, the Gore and Pachauri advised Chicago Carbon Exchange (CCX) has closed. Closing price? A nickel per ton of CO2.Here’s the final day closing page for posterity:A 16 lb bag of charcoal briquettes is worth more than a ton of CO2. About 220x more. Here’s more on the story:Carbon Trade Ends on Quiet Death of Chicago Climate ExchangeBy John O’SullivanRepublican mid-term election joy deals financial uncertainty among green investors as the Chicago Climate Exchange announces...

Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading – the only purpose for which it was founded – this year. Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub of the mandatory carbon trading established by a cap-and-trade law, like the Waxman-Markey scheme passed by the House in June 2009.

The CCX was the topic of thousands of MSM articles over the years, but not a single article reported their recent demise. Hmmm. Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading — the only purpose for which it was founded — this year.Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub...

This is idiotic. The EU carbon trading cabal has decided to extort the rest of the air travel world starting in 2012. In a nutshell, they’ll ban flights from landing if the airlines don’t engage in carbon trading. It’s yet another variation of the “Plane Stupid” theme. Foreign airlines are threatened with a flight and landing ban from 2012 in the European Union if they do not participate in emissions trading. The ban is proposed in an internal document by the EU Commission seen by Handelsblatt. Summarised on nine pages, the guidelines describe how such a ban could be implement....

Guess who holds patent for carbon trading plan Disgraced Fannie Mae CEO set to cash in for millions Obama housing adviser Franklin Raines Former Clinton and Obama budget adviser Franklin Raines owns a key carbon-emissions patent he developed as CEO of the government-sponsored mortgage giant Fannie Mae, positioning him and his partners to make millions of dollars if it is used in any carbon-capping scheme implemented by the Obama administration. Raines and his associates led Fannie Mae and Congress to believe Fannie Mae owned the patent, despite public records to the contrary, a WND investigation has found. Raines and his...

“The carbon trading system being pushed here has spawned crime and fraud across the pond. Cap-and-trade is not about saving the planet. It’s about money and power, and absolute power corrupting absolutely.” We’ve written much about the organized crime syndicate that is the Obama regime. It’s bad enough that Obama is a radical Marxist, hell bent on the destruction of society as we know it, the fact that he is also a money and power hungry crook is just icing on cake. In what we call The Greatest Swindle In Human History ©, we lay out what we feel is...

The SEC civil charges against Goldman Sachs challenge a firm with ties to many Democrats, including Al Gore and the entire carbon trading establishment. Whether Wall Street colossus Goldman Sachs has committed a crime remains to be seen, but the investigation may well uncover the environmental lobby and its public figurehead. For nearly a decade, Goldman Sachs has been a quiet but major investor in cap and trade. And Goldman’s main investment partner has been Al Gore. About a decade ago, Goldman executives recognized that personal fortunes could be made with the invention of a carbon trading system through the...

New carbon trading legislation confuses businesses A compulsory carbon trading scheme for 5,000 UK businesses will launch today, amid widespread confusion about its complex rules and a bonanza of extra fees for environmental consultants. By Rowena Mason, City Reporter (Energy) Published: 12:08AM BST 01 Apr 2010 Under the Government's scheme, an array of businesses from supermarkets to office blocks that spend more than £500,000 per year on energy must conduct an audit of their carbon dioxide emissions. They must register by September and will next year be ranked in a league according to how much energy they have saved or...

Forget CDOs and other inventions of the great credit bubble. That’s all old hat. Investment bankers are moving on to an area of securities trading that is potentially even more lucrative, and what’s more, even has a social value – saving the planet. Or supposedly so, anyway. I’ve long had my suspicions about the great carbon trading bubble, and I’ve had them pretty much confirmed by a brilliant article which has been drawn to my attention by one Mark Schapiro in Harper’s magazine. According to Mr Schapiro, carbon trading is now the fastest growing commodities market on earth. Since Kyoto...

JPMorgan Chase & Co agreed to buy carbon offset aggregator EcoSecurities for 122.9 million pounds ($204 million) on Monday, trumping a bid from the firm's co-founder, to boost its carbon-credit trading business. J.P.Morgan Ventures Energy Corp., a subsidiary of the bank, said its 100 pence-a-share bid, made through Carbon Acquisition Company, had the backing of shareholders representing 19.9 percent of the company.It said EcoSecurities had successfully realized value from sourcing, developing and trading emission reductions, and it noted the firm had recorded its first period of profitability in the first half.The offer represents a 120 percent premium to the group's...

Climate Fraud: The godfather of climate hysteria is in hiding as another of his wild claims unravels — this one about global warming causing seas to swallow us up. We've not seen or heard much of the former vice president, Oscar winner and Nobel Prize recipient recently as the case for disastrous man-made climate change collapses. Perhaps he's off reading how scientists were forced to withdraw a study on a projected sea level rise due to global warming after finding two "technical" mistakes that undermined the findings. The study, published in 2009 in Nature Geoscience, allegedly confirmed the conclusions of...

February 24, 2010Al Gore Is Lying Low -- for Good ReasonBy Rex McBride Maybe Al Gore's been advised by legal counsel to lie low. He may be the leader of the anthropogenic global warming (AGW) movement, but he's not defending it in public, not even when it's falling apart and his new fortune is based upon it. Mr. Gore and his financial backers earned millions of dollars in start-up "green" companies and carbon trading schemes. If the scam worked, he could've become the first "carbon billionaire." "What goes up can fall down" applies to ill-gotten gains in the stock market...

WASHINGTON – The top Republican in the Senate, Mitch McConnell, said on Wednesday that there was barely any support in that chamber for passing cap and trade legislation that aims to control global warming."I would say there is minimal enthusiasm, and that's putting it mildly, for cap and trade," McConnell said when asked by a reporter whether the initiative was dead for this year.Under cap and trade, which was passed by the House of Representatives last June, lower and lower limits would be put on industrial emissions of carbon dioxide and other greenhouse gases over the next 40 years.Companies would...

The credibility of the European Union’s flagship carbon trading scheme was dealt another blow on Monday after carbon prices fell to six-month lows as UN talks in Copenhagen failed to deliver a strong climate deal. Traders and analysts say low prices could continue well into 2010, slowing investment in low-carbon technologies which have already been dented by tight financing due to a slow economy. “(The low price) reinforces the idea that relying solely on the EU ETS to drive investment is probably not the answer at the moment,” said Andy Kelly, head of business development at Centrica. “This does give...

No excerpt allowed from Bloomberg.com, story here.

Wall Street sees carbon trading and related derivative products as the next big thing in financial innovation. Critics say it's the next big financial mess. Carbon trading provides a way for companies to stimulate green energy and carbon reduction projects by financing them through the purchase of carbon credits. Such trading has slowed over the past year or so amid uncertainty about regulations and global emissions targets. Eventually, though, many expect carbon trading to balloon into a multitrillion-dollar business. FOE and other environmental groups have been pressing the Senate to pass legislation that puts strict limits on banks' involvement in...

Forget the dire economic consequences of a Copenhagen climate change treaty for a second and think about the fraud involved. Carbon Trading Fraud Take the European Union, for instance, which implemented a carbon trading scheme analogous to a cap and trade system. And it has been fraught with fraud. French officials are investigating a $230 million carbon trading fraud scheme and this is only the tip of the iceberg in what is a startling revelation and huge blow to the climate talks in Copenhagen: Europol, the European Union’s law enforcement arm against organized crime, announced on Wednesday that carbon-trading fraud...

Ice cores reveal that CO2 levels rise and fall hundreds of years after temperatures changeIn 1985, ice cores extracted from Greenland revealed temperatures and CO2 levels going back 150,000 years. Temperature and CO2 seemed locked together. It was a turning point—the “greenhouse effect” captured attention. But in 1999 it became clear carbon rose and fell after temperatures did. By 2003 we had better data showing the lag was 800 ± 200 years. CO2 was in the back seat.AGW replies: There is roughly an 800-year lag. But even if CO2 doesn’t start the warming trend, it amplifies it.Skeptics say: If CO2...

Europe's cap-and-trade program which is designed to reduce CO2 emissions is rife with fraud thanks to organized crime's alleged involvement in the market as reported by the European Police Office (EUROPOL): The European Union (EU) Emission Trading System (ETS) has been the victim of fraudulent traders in the past 18 months. This resulted in losses of approximately 5 billion euros for several national tax revenues. It is estimated that in some countries, up to 90% of the whole market volume was caused by fraudulent activities. In France prosecutors have "opened a criminal investigation of four men allegedly involved in a...