We knew this was coming. Carbon Financial Instruments are now trading for 10 cents per metric tonne on the Chicago Climate Exchange. I wonder if the investors are reacting to the Hockey Stick Implosion news? As reported on WUWT, less than one month ago it was 25 cents a tonne, and a year ago it was over 1 dollar. The all time high was May 2008 at over 7 dollars a tonne. Today: poof.
Looks like there was a big sell-off today. Carbon Investor confidence must be “unprecedented”.
The chart is only a sliver from rock bottom:
Anyone who was a founding member at 1 dollar has now lost 90% of their investment.
Tough noogies for them.
In other news, Zimbabwe dollars are still selling for higher value than CCX CFI’s on Ebay.
I wonder if this fellow might have to drop his price for the domain name? Maybe he’d take a barter deal for some CCX instruments?
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Any guess at the odds of this site folding within the next 12 months.
“The World Carbon Database (WCD) is a non-profit open resource that indexes carbon offsets. WCD does not sell carbon offsets, and is an entirely free service, designed to promote the usage of carbon offsets and responsible ecological behavior.”
http://www.worldcarbondatabase.org/welcome-to-the-wcd
“Regulation?? I think the regulations at this time are whatever those bankers with that $750 billion say they are.”
Al Gorito and the Climate Banditos say: “Reg-u-lationz? We don’ need no steenkin’ reg-u-lationz!!!!”
I suppose it can’t apply to a futures market, but NASDAQ starts “delisting” procedures against companies whose stock value goes below $1.00, the intent being to get the moribund companies off the stock pages and keep the clutter down.
In this case the “clutter” has more amusement value. I wonder if we can find out who bought futures at above $5.00.
In a futures market, someone has to keep track of contracts and delivery of the product, though in this case no one drives up and dumps a truckload of coffee beans in your front yard. (I heard of some people who dabbled in coffee futures who decided instead of selling their contract at a loss to accept delivery and started a coffee business instead.)
“Hey bud – I got 10 tonnes of CO2 for ya – where d’ya want it?”
This whole carbon-trading scheme only works if rent-seeking corporations and scam artists can get the government to force people into purchasing carbon credits. It’s Enron++.
In fact, Enron was a big proponent of carbon trading.
This market needs a bailout. If it doesn’t some quickly and with a lot of money, we will have to trade carbon in back alleys and other dangerous places.
You’d have thought that all the believers would be snapping them up at this price….
When I deliver grain it is weighed on a scale. I expect that scale to be
calibrated and accurate, the people running it to be honest, and I still look
and judge for myself if things appear to be right.
Where is the scale for all the green house gases?
A fool and his money are soon parted.
Perhaps those REALLY looking at Voluntary Emission Reduction should check out the Chris McCandless option:
en.wikipedia.org/wiki/Christopher_McCandless
Summarized:
A 1990 Emory University graduate who hiked into the Alaskan wilderness with little food and equipment, hoping to live an idyllic life in a quiet solitude … who was apparently bent on self-extermination because of a warped personal belief system and an over-estimated skill set (as evidenced by his actions, his squandering of those resources he did encounter) this was done by venturing into an unkown area without a means of navigating (/map, /compass) and subsequenctly found in his sleeping bag ~ four months later weighing an estimated 67 pounds (30 kg) DESPITE lifesaving resources just miles of where he was found.
.
.
BUY BUY BUY!!!!!
Super cheap carbon offsets makes it more affordable for AGWers to indulge in their hypocrisy by excusing their enormous carbon footprints.
I just dropped my SFO Kiosk price to an outragiously low price of $25.10 <;-{)
Zedeker
Sorry for a stupid question. But can’t you buy these indulgences for 10 cents a ton and sell them for 13 euro a ton at the European system, ETS?
http://www.pointcarbon.com/
Please, if someone earns some money, I don’t want any fee for a good idea, because I am not unethical to benefit from human stupidity, unless he or she earns at least USD 1 million in which case I want 10%. 😉
Loons and Idiots!
http://www.telegraph.co.uk/earth/earthnews/6248257/Planned-recession-could-avoid-catastrophic-climate-change.html
Ric Werme (05:28:10) : “Hey bud – I got 10 tonnes of CO2 for ya – where d’ya want it?”
I got a friend who grows corn. Bring it on over!
Remember the “LAW of IT” folks.
Whatever IT is someone will find a way of making money out of IT.
CARBON was IT but I guess ALBERT & CO will now have to find a new IT
Hope they lock him up before that happens, and he gives his NOBEL back and apologizes, and maybe we should insist that from now on the UN IPCC can only use PROPER SCIENCE not the PSEUDO BOGUS PRETEND STUFF they have been using. I live in hope !
Fred from Canuckistan . . . (17:29:17) : Gonna need something to burn in the fireplace this winter. I’m expecting it to start early, be brutal and linger on into late Spring.
Send in a FOIA request to the UK, USA, and Canadian governments (assuming they all have a FOIA process) requesting a copy of the current budget. Oh, and all documents pertaining to AGW policy.
Ought to get enough free paper for most of the winter…
Everybody wants to make money out of every opportunity. VER market was started to create awareness among people and make them do whatever little they can to help environment. Now every body is Happy that price of CFI at CCX has fallen because they always said this thing will never work most of these people are actually those people who will not give $1 in charity but will be keep quite when they are taxed $ 100. They want to through stone on every body who is doing anything good because it make them realize that they are living a self centered life so easy way is pull down anybody who is doing something for others and tell everybody see we told you this was about to come. People are shameless and that is the way they will always will be. Stop comenting on others act and do something better if you can.