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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It irks me to the extreme degree their attempt to make a product out of the air we exhale.
What a product? Just collect the money without any effort.
I would wager that report drove this: http://www.breitbart.tv/gore-united-states-government-has-failed-us/
A year ago:
Obama, Maurice Strong, Al Gore key players cashing in on Chicago Climate Exchange
March 30, 2009 — Stefan Fobes
http://warofillusions.wordpress.com/2009/03/30/obama-maurice-strong-al-gore-key-players-cashing-in-on-chicago-climate-exchange/
It looks like the wikipedia doesn’t have the most recent prize developments:
http://en.wikipedia.org/wiki/Chicago_Climate_Exchange
Honi soit qui mal y pense.
alGore says the goal is carbon free by 2015.
even 10 cents is not free.
In fact this is not what he meant. He meant he would make millions on this scheme.
In the immortal words of Mortimer Duke (while Randolph has a heart attack) . . . “Turn those machines back on! Turn those machines back on!”
Wonder if we could get this ICE to help with our ICE that is supposed to control the borders.
Good Riddance – the idea was stupid from the start — taxing consumption so they can continue to pollute is a Sin for all.
How much does it cost to Exchange A Climate? I’d like a little cooler summers (only really hot on days I plant to go swimming) and warmer winters.
Hmmm, If I buy a couple of tons, when could I expect delivery? My garden could use a pick me up… 🙂
Just wunderin’ how many carbon credits ICE needed to burn $604 million?
We live in a sick society when people can actually be convinced that the climate is stable, warmer is worse, that a percentage of something so small makes all the difference, that people that stand to profit from it have your best interests at heart, and you can bottle and sell something you can’t even measure.
And there are people, walking around, that really believe this garbage.
I’m looking forward to the day the bailiffs are sent in – the day the exchange is as bankrupt as the thinking behing it…
So the ICE is thinning here too! Its really worst than I thought!
From Point Carbon’s latest newsletter, Aug. 13, 2010:
A drop in prices for US offsets is driving greater demand from voluntary buyers, experts say.
Market players say they are seeing more demand from buyers that want offsets for corporate social responsibility purposes as prices for carbon offset credits slump.
While voluntary offset purchases rise, demand for pre-compliance credits – offsets that are viewed to be fungible in a future US carbon market – is tapering off amid uncertainty over the future of a federal cap-andtrade regime.
Carbon offset credits that were deemed to be pre-compliance had fetched higher prices than other voluntary carbon credits but the prolonged political uncertainty in Washington has led those prices to fall.
“There has been an increased demand for voluntary purchasing as pricing has dropped,” said Randall Lack, chief marketing offi cer for US project developer
and aggregator Element Markets. “We also see pre-compliance buyers, but they are
mostly waiting on the sidelines to see what happens to the federal and state compliance systems.”
It looks increasingly unlikely that federal cap-andtrade legislation will pass the US Congress this year after Senate Majority Leader Harry Reid delayed indefinitely debate on a climate bill that would create a mandatory national cap-and-trade system. The senator, who sets the legislative agenda in the Senate, said the measure does not have enough support from senators to gain passage.
Low offset prices are attracting buyers who would have normally shied away from the voluntary carbon market, said one head of an environmental brokerage firm who asked not to be named.
“The prices of some of the higher quality offsets are getting suppressed. That is certainly attracting certain types of voluntary buyers that have not been in the
market lately.”
He added interest in the voluntary carbon market has also been driven generally by a greater awareness about the role of offsets.
“There is a lot of heightened public awareness of going green,” he said.
Market participants say prices for some US offsets have fallen, in some cases, more than 50 per cent. The economic recession, as well as uncertainty over federal, state and regional climate programs, has driven much of the price decline. Many buyers that bought offsets purely for pre-compliance purposes are no longer propping up prices, observers say.
Lack at Element Markets said prices for climate reserve tonnes – carbon credits issued by the Climate Action Reserve – have fallen around 50 per cent from
their highs. Carbon credits issued by the California-based offset standard have been seen as offsets that will most likely be fungible in a federal cap-and-trade system, as
well as California’s state climate program, AB 32.
http://www.pointcarbon.com/polopoly_fs/1.1466792!CMNA20100812.pdf
According to the Australian, now the Mafia is cashing in on the wind industry.
http://www.theaustralian.com.au/business/industry-sectors/organised-crime-exploits-wind-industry/story-e6frg976-1225902848269
Carbon futures. Not worth the carbon-based paper they are printed on. I’d get philosophical about it but I’ve been too busy enjoying myself drinking CO2-rich beverages.
I’m not as thunk as drinkle peep am I.
Are Greenpeace next to go near bust?
They’d make far more money selling Certificates for a ton of Carbon as a present for the guy or gal who has everything. Oooops!… I’ll bet some kid with a Hav’erd MBA is going to make a bundle on that idea. (should’a kept my mouth shut;-(
They might find a wider market, if they put it in 16.9 ounce (.5L) bottles and gave it fancy names. Hinckley Spring Air.
In years to come people will laugh until their ribs hurt at the very thought of a bunch of old men trying to sell hot air to the public and corporations. All the while the hypocrites each had a carbon footprint the size of a large coal fired power plant, King Kong and Godzilla combined.
Re: CRS, Dr.P.H.
August 13, 2010 at 8:56 am
I noticed the graph has a large uptick in March 2009. What happened? Could some misinformation have been spread to raise the price so the insiders could get out?
“REPLY: No, because he’s making some inflated claims that aren’t supportable, which is why I’m not jumping on to it – Anthony”
Okay,I agree. I meant perhaps you could have your own approach on the case, since there was clearly something going on.
Anyway, I am impressed by the posts Goddard, Willis and the rest are presenting here on WUFT, and I have asked myself where did you find all these fantastic people?
Does that price includes delivery? Carbon is good for soil it improves fertility and structure. I could use a few thousand tonnes for my farm, and that price certainly is attractive.
10cents a ton?
Wow… somebody needs to start buying it up and reselling it as COAL….
Some power plant operators would love to get it at that price.