Chicago Climate Exchange drops 50%, new record low

by Anthony Watts, Watts Up With That, August 31, 2010 [here]

The only lower price than today’s closing price on a ton of carbon is ZERO

Perhaps reacting to the news yesterday about the IPCC getting taken to the woodshed [here], the growing number of stories in the MSM about the IPCC failure, and the recent layoffs at CCX [here], carbon trading has once again been devalued by the market. …

The CCX [Chicago Climate Exchange] end of day table really says it all, 50% off, from a dime to a nickel [per ton] in a day. …

Charcoal briquettes and coal have more value than a ton of CCX carbon instruments these days. [By the way, the spot price for Central Appalachia 12,500 Btu, 1.2 SO2 coal this week was $69.50 per ton. Compare that 5 cents per ton for fiat "market" carbon futures.]

Unless CCX starts making adjustments in single cents, the next downward adjustment is zero. The latest CCX advisory says they will be closed for labor day, and will reopen for trading September 7th. One wonders.

See also: The $10 Trillion Climate Fraud [here]

ICE buying Climate Exchange for over $600 million [here]



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