Skip to comments.EU Carbon Trading ‘death spiral’ continues
Posted on 01/31/2013 5:36:10 PM PST by Ernest_at_the_Beach
UPDATE: its worse than we thought, see below.
Carbon has closed below $4 a ton in a new record low while Deutsche Bank bails
Deutsche Bank quits carbon market: board member
31 Jan 2013 12:42 Last updated: 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 banks board of directors said on Thursday. Source: http://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 lenders co-chief executive, have been drawn into a police investigation into tax evasion related to the groups carbon trading business.
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.
New Zealands experiment in carbon trading isnt looking good either:
NZ carbon finds new record lows amid stable supply
31 Jan 2013 09:59
BEIJING, Jan 31 (Reuters Point Carbon) Spot permits in the New Zealand Emissions Trading Scheme (ETS) fell 6.5 percent week-on-week to close Thursday at NZ$2.45 ($2.05), the lowest weekly closing price ever recorded as fresh supply continued to find its way to the market.
UPDATE: the market has closed today, with another record loss, for a nearly 50% drop in value in January 2013.
(Excerpt) Read more at wattsupwiththat.com ...
Don’t know why the Graphs are minimal...sorry.
I am going to start the ADPM! The American Dog Poop Market! $45.00 per pile!
How dumb do you think we are?
Give you $15 for the pile. Final offer.
I was like a moth looking into the flames of hell, unable to completely and finally leave and turn off my set without going back to sneak another peak just in case he'd have a nervous breakdown and stop lying or something. (snort!)
To combine your carbon with my oxygen to make carbon dioxide is going to cost you.
Get your oxygen credits while they are still cheap.
Only $5 a metric ton if you act now. But wait, the first thirty calls will get a second metric ton of oxygen, just pay separate shipping and handling!
Could Gore be the anti-christ of the end times?
I don’t know... his eyes these days sure make him look EVIL!!! (like a vulture)
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