From the “unsustainable business” department, who wants carbon at 10 cents a ton? Apparently, nobody. Data below as of August 8 2010:
Source: http://www.chicagoclimatex.com/market/data/summary.jsf
From Reuters, news of layoffs. At least their carbon footprint will be lower…
ICE cuts staff at Chicago Climate Exchange-sources
* ICE to cut around half of 50-person CCX workforce
* 1st round of layoffs began July 23, more to come in autumn
* Sources cite U.S. climate inaction as main reason for cuts
* ICE collecting feedback on what to do with climate bourse
LONDON, Aug 11 (Reuters) – Market operator Intercontinental Exchange Inc. (ICE.N) is laying off staff at newly acquired U.S. environmental bourse the Chicago Climate Exchange (CCX), industry sources told Reuters, citing a lack of U.S. action on climate change.
They said the first round of layoffs began on July 23 and, although the total number of jobs to be cut was unknown, one said around 25 employees, or roughly half CCX’s headcount at the time of ICE’s acquisition, had already been or were being let go.
ICE would not confirm or comment on the layoffs.
“ICE just came in one day and started hacking away … We were told the company was restructuring,” said one source, who declined to be named.
…
full story: ICE cuts staff at Chicago Climate Exchange-sources
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This surprises who?
I’ll bet you a dollar to a dime . . . no, wait . . .
“At least their carbon footprint will be lower…”
rofl…
Isnt this MUCH more interesting;
http://www.climatechangefraud.com/climate-reports/7491-official-satellite-failure-means-decade-of-global-warming-data-doubtful
REPLY: No, because he’s making some inflated claims that aren’t supportable, which is why I’m not jumping on to it – Anthony
Can’t think of a better group/organization/market exchange to be flat-lining today — except for the political opportunities of all current and former members of Democratic Socialists of America
Maybe when they realize that CO2 is plant food and not a pollutant carbon will have a positive value.
Maybe I should buy a few tons……… if they drop the price a little more. LOL
If you look at the daily dollar volume, it looks like it could be handled by one person and a PC.
Newsweek sold for less than the price of a single copy. CCX may be worth less for the total exchange than the price of a ton of CO2.
It’s tough to sell a lie, when everybody knows you are lying. The CO2 comes out slowly.
“ICE collecting feedback on what to do with climate bourse.”
I think their best business plan is to open it to the public, put in an attractive counter, give their “traders” some aprons and just keep those Latte’s comin!
Sell a product that no one wants.
What’s the Obama, Gore connection? 😉
Their entire ‘business model’ relied solely on government regulations mandating carbon credit exchange. Without such legislation in place, of course they will go out of business.
It’s been flatlining long enough now. Tag it and bring it to the morgue.
* ICE collecting feedback on what to do with climate bourse
Stuff the turkey and cook it. Serve with lots of gravy.
Eat hearty until you get a knock on the door, indicating party is over.
But, but, but won’t windmills save us? Apparently not, according to this Scottish study – http://scotlandonsunday.scotsman.com/news/Windfarms-only-giving-half-power.6426015.jp
It’s mindbending that the whole scheme ever even existed in the first place.
I’d rather see jobs cut there than in some manufacturing industry as a result of cap-and-tax.
Meanwhile in the UK:
Companies face further fines under new ‘green tax’
http://www.telegraph.co.uk/news/7941076/Companies-face-further-fines-under-new-green-tax.html
Ten cents a ton is the lowest value for any commodity I have ever heard of. That’s $0.0005 dollars per pound. The difference between that and free is inconsequential.
The Grand Carbon Marketing Scheme has collapsed. The balloon has burst. The scammers like Algore took their ill-gotten gains and got out long ago.
The Malarkeys in Congress wanted to invest your money at $12 per ton. Remember? They still do. Corruption has no limit.
The great climate hoax spawned the great Carbon Exchange hoax and both are flat lining.
If only mother nature would cooperate with those computer generated climate models.
Whoops. Somehow I left out another zero. $0.00005 per pound. Not that it makes any real difference.
I’ll buy CO2 at $0.10 per ton. A ton of solid CO2 (dry ice) would keep my freezer cold for a month at a time and I could leave it outside and not spend $$$ on electricity. $0.10 a month to run a freezer? Who wouldn’t?
They do sell it in solid form, don’t they?
Dare I say:
It’s dead, Jim.
I am still laughing at the suckers who bought this CO2 ton of nothing for $7….then again our governments bought them… so I guess the joke is on us, the taxpayer.
The good news is that the CCX employees will be fully trained to work on Wall street, as experts in selling derivative crap. They can also be hired by the CIA, and exported to Iran, as experts in destroying economies. Or they can advise Al Gore on which massage therapists will provide ‘happy ending’ and how to tell the difference.
Reminds me when a TV reporter was up in Scotland in the middle of winter, snow and ice everywhere and way below zero temperatures , there was high pressure reigning with a lovely blue sky so you could see the windmills for miles – and not a single one was turning – no wind – and had been like that for ages ! Pity the locals trying to keep warm or cook with renewable energy , which probably renews itself in Spring !!
Curiousgeorge, that’s not as bad as in Sweden, have a look here:
http://www.vindstat.nu/driftsamfalla.htm
Right now when I’m writing this they produce 17% of installed effect. Look at the red line that’s the running mean for the last 30 days.
Short translation:
Antal verk = Number of windmills
Ej rapporterade = Not reported
Ur drift = out of service
Installerad effekt = Installed effect
Aktuell effect = Actual effect