The more things change...
Posted on 03/14/2007 12:24:56 PM PDT by Shermy
Financial services firm Cantor Fitzgerald has merged its previously separate U.S. pollutant brokerage with its carbon brokering business to try and cash in on expected expansion in U.S. carbon markets.
Cantor wants to put to work in emerging carbon markets its U.S. environmental brokerage, which until now has focused on markets in pollutants like sulphur and nitrous dioxide.
To do this it has merged the U.S. pollutants brokerage with its carbon brokerage Co2e, based in London, into a single business CantorCO2e. ...
A power shift in the U.S. Congress last autumn has raised hopes for a federal U.S. carbon market, accounting for a surge of interest among U.S. investors.
In Europe there's a similar view that carbon trading could present a longterm market.
Morgan Stanley (down $2.67 to $73.39, Charts) and RNK Capital have completed the first deal to trade European Union carbon emissions permits for delivery after 2012, hinting at growing confidence that carbon markets are here to stay.
The Kyoto Protocol on global warming has kick-started trade in carbon emissions permits by setting rich countries limits on their emissions of greenhouse gases, but allowing them to buy permits from poor countries to meet these goals.
Kyoto targets expire in 2012, but recent moves for example by the European Union to set a unilateral emissions target to 2020 is giving investors confidence that there will be long-term demand for permits.
The next phase of the EU scheme also ends in 2012.
"This trade is a clear indication of our confidence in the political will of European governments to continue to build on the success of the EU emissions trading scheme," said Morgan Stanley's Imtiaz Ahmad on Tuesday.
...
(Excerpt) Read more at money.cnn.com ...
Churning carbon credits...churn, churn churn!
I just won the Lottery and am going to send it all to Cantor Fitzgerald.
The more things change...
If this isn't Scrappleface, it should be. Does Scrappleface know people are beating his time? Is that fair?
Cantor Fitzgerald is still in business? Weren't all of them wiped out in the 9/11 WTC attack?
You'll like this:
"This trade is a clear indication of our confidence in the political will of European governments to continue to build on the success of the EU emissions trading scheme," said Morgan Stanley's Imtiaz Ahmad on Tuesday."
The EU trading scheme collapsed. The bubble predictably burst, and a week ago the EU reinflated it, so they hope, by imposing more carbon "caps" beyond what Kyoto called for.
Looks like they are betting on Congress to pass "cap and trade" scam. Bush will go along, all Norquist has to tell Rove to tell Bush is that it's a "market solution." That sounds conservative! /sarc
All the smart ones apparently.
I'm waiting for the e-mail from Nigeria asking for my bank account numbers to help get money out of the country and save the rain forest.
ping
"How many shares does Al Gore own?"
Interestingly, he's buying carbon credits from his own company, a direct seller of cc's, which he may be able to redeem in a future carbon exchange.
"This trade is a clear indication of our confidence in the political will of European governments to continue to build on the success of the EU emissions trading scheme," said Morgan Stanley's Imtiaz Ahmad on Tuesday
Click pn POGW graphic for full GW rundown
Ping me if you find one I've missed.
Should read
Buying carbon credits from a country with no industry does not cut pollution it only makes the NON-industrial country you buy them from richer, but the greatest part of the profit will go to the brokers.
Scam alert!
If they would trade these credits openly on the commodities market, they would quickly find their true value.
Any fellow freepers want to join me in my new venture? Inspired by Albore....... Let's set up a "carbon trading website" where liberal bozos can pay $100 a pop (or maybe varied amounts) for us to promise NOT to engage in certain carbon-emitting activities such as flying a private plane for a day. It doesn't matter if it's an activity we never do or wouldn't do at a particular time, as long as we can "say" that we refrained from said carbon-emitting activity the liberals can be happy that they have purchased an "indulgence" for their own sins and we can pocket the money. I'm perfectly willing to share the proceeds with some select fellow freepers. :^)
I can undersell Cantor Fitzgerald by significant margins.
Freepmail me and I will connect you with my PayPal.
Al Gore bobblehads for the first 200 buyers!!
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