European Carbon Trading Hits Another Record Low

[marchesarosa]

Tell me, those of you with a bit of maths talent, how much will a carbon credit lower the temp in 2100? If you don't know, don't care or the figure is impossible to compute why do you buy into this scam? Doesn't your brain ever revolt at the stuff you AGW believers are required to swallow?



LONDON, Jan 17 (Reuters Point Carbon) – EU carbon prices hit a fresh record low on Thursday as poor economic data from Germany and relatively healthy supply of coal continued to force European power and coal prices lower.

[marchesarosa]

Carbon has closed below $4 a ton in a new record low while Deutsche Bank bails

A bag of charcoal briquettes is worth more than a ton of EU carbon right now.

From Reuters:
Deutsche Bank quits carbon market: board member

31 Jan 2013 15:04

LONDON, Jan 31 (Reuters Point Carbon) – Deutsche Bank has shut its global carbon trading operations, a member of the investment bank’s board of directors said on Thursday. Source: www.pointcarbon.com/news/1.2162216

In addition to the price dropping to below the price of a bag of charcoal briquettes, it may have something to do with this investigation:

Deutsche Bank co-chief named in carbon tax investigation

Two board members at Deutsche Bank, including the lender’s co-chief executive, have been drawn into a police investigation into tax evasion related to the group’s carbon trading business.

Source: www.telegraph.co.uk/finance/newsbysector/banksandfinance/9740904/Deutsche-Bank-co-chief-named-in-carbon-tax-investigation.html

Meanwhile, carbon closed yesterday at a new record low, losing about 8% of its value yesterday.



It looks like that by the close of trading today, EUA carbon will have lost about half its value since the peak in early January.

[marchesarosa]

ferd berple says:
January 31, 2013 at 7:38 am

Making money out of thin air used to be the profession of central banks and counterfeiters. Now anyone can do it, simply by agreeing to not build a power plant or open a new factory and getting paid for the carbon pollution this saves.

It doesn’t take long to draw up thousands of plans for new power plants and factories and then agreeing not to build them in return for money. Here in Beautiful British Columbia big business has been making hundreds of millions through the Pacific Carbon Trust taking taxpayer money out of the school system in return for not building new manufacturing facilities.

In return the schools are allowed to emit the carbon that business avoid by not expanding locally. Instead, the businesses move to China and burn coal exported from BC. So, instead of using power generated in BC from Hydro Dams, businesses are instead using BC coal in China, all paid for by the BC taxpayers.

The power of bureaucracy in action. Able at a single bound to take a good situation and turn it into a disaster, while making someone rich in the process.

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That couldn't be why ENRON invented this scam, could it? Nah!