Beam me to Planet Gore !
Posted on 11/29/2009 4:33:54 PM PST by opentalk
The carbon market could become double the size of the vast oil market, according to the new breed of City players who trade greenhouse gas emissions through the EU's emissions trading scheme.
The ETS market may see $3tn (£1.8tn) worth of transactions a year in the next decade or two, according to Andrew Ager, head of emissions trading at Bache Commodities in London, with it even being used as a hedge against falling equities or rising inflation. "It is still a relatively new industry with annual trades of around €300bn every year. But this could grow to around $3tn compared to the $1.5tn market there is for oil," says Ager, who used to be a foreign currencies trader.
The speed of that growth will depend on whether the Copenhagen summit gives a go-ahead for a low-carbon economy, but Ager says whatever happens schemes such as the ETS will expand around the globe.
Last week Australia gave its strongest sign yet that it would establish its own trading market, while the US is moving towards a similar scheme in a bid to find market-based ways to accelerate the transition to a lower carbon economy.
Many political leaders, especially in industrialised countries, are enthusiastic: carbon markets hold the promise of cost-efficient emission cuts without the need for taxpayer funding. But their enthusiasm to place carbon markets at the heart of the Copenhagen treaty is matched by growing criticism of the concept, and not just from environmentalists opposed to free market solutions.
(Excerpt) Read more at guardian.co.uk ...
The lefties at the Guardian truly must live in a parallel universe.
Of course, the Left’s grip on reality has always been pretty slippery.
I am starting a unicorn fart trading business.
Uh. "Industry" means MAKING something or doing something useful. This is nothing but another rigged economics shell game, about as useful as . . . derivatives.
Bunch of guys sitting around in back rooms trading tax money ripped off of productive workes.
And we though Pet Rocks were ridiculous!
I thought derivatives trading was a bad thing.
I guess derivatives are bad if the underlying asset is something like real estate or some sort of commodity, but derivatives are good if based on something of fictitious political value like "carbon credits".
Barf.
Double and triple barf.
I hear that although Bernie Madoff’s investor funds have taken a big hit, they’re poised for a big uptick for those who are smart enough to get in now.
Could be the case that in a few months, or maybe weeks, doing “carbon trading” might well send you to prison in most civilized countries.
I don’t see why they don’t just cut to the chase and
Construct a giant golden calf to worship in the front yard of the White House, and then have doctors perform late 3rd trimester abortions on the altar.
I can’t quite decipher what the system is, but the mechanics sound eerily similar to the sub-prime mortgage scheme that Rahm and Jamie Gorelick were enabling at Freddie Mac. Will be one of those situations like w/Madoff, where everyone will look back and ask why it wasn’t obvious to everyone that the scheme never made sense.
Smells delicious.
If you want to see just how much power the green socialist have gained then watch to see if the GW debate ends with these revelations. They may try to push things through quickly before resistance becomes insurmountable with the help of our illustrious Marxist in chief. deathcare, cap n tax, and amnesty are the linchpins of complete control.
Hide.
The.
Decline.
Trade you three bags of centaur dung for two bottles of unicorn farts. The centaur dung is good stuff. You can grow magic flowers in it and without magic flowers, your unicorns will stop farting.
More lefty crap from the Guardian UK...
DISGUSTING. Talk about robbing the poor to pay the rich. My God. All this wealth redistribution going to the poor are going to go right back in to the carbon traitors [sic] green movement. CO2 emmiters (not that I accept the premise) will simply pass on the costs to all of us.
It is disgusting. A Big Scam.
Those con artists were from Illinois just like the current one in the White House. Same scheme.
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