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, the growing number of stories in the MSM about the IPCC failure, and the recent layoffs at CCX, carbon trading has once again been devalued by the market. Amazingly, it lost 50% of it’s value for 2006, 2007, and 2008 “carbon instruments” today. Here’s the CCX front page graph at closing today:
The CCX end of day table really says it all, 50% off, from a dime to a nickel in a day:
It must have really killed the person to have to put in a nickel for the closing value today.
Charcoal briquettes and coal have more value than a ton of CCX carbon instruments these days.
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.
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In the world of commodity trading, for every loser there is a winner.
So, the question is: where did all the CCX money go? My guesses include Maurice Strong, Franklin “Fannie Mae mortgages are riskless” Raines, Al Gore and his Generation Investment Management, Obama and the Joyce Foundation, Goldman Sachs (they always have their finger in some pie), and of course George Soros.
And who were all the losers? Everyone who believed in this Green Nonsense.
Charcoal briquettes and coal have more value than a ton of CCX carbon instruments these days.
Charcoal briquettes and coal are tangible. In other words, there is something there. the Carbon market is trading air. Nothing is there, and that is why the former have more value.
Why pay money for something that you can get for nothing? Go here for free carbon credits: http://www.freecarbonoffsets.com/home.do;jsessionid=B81464289E92AE3020F7A2381C052780
rbateman says:
August 31, 2010 at 8:10 pm
Isn’t Al Gore heavily invested in that exchange?
…
Charles S. Opalek, PE says:
September 1, 2010 at 12:57 pm
In the world of commodity trading, for every loser there is a winner.
So, the question is: where did all the CCX money go? My guesses include Maurice Strong, Franklin “Fannie Mae mortgages are riskless” Raines, Al Gore and his Generation Investment Management, Obama and the Joyce Foundation, Goldman Sachs (they always have their finger in some pie), and of course George Soros.
And who were all the losers? Everyone who believed in this Green Nonsense.
—…—…—…
So, the question becomes: Who (which groups of these prophet-taker/enviro-socialists sold between April 6 2009 and May 20 2009?
How many billions did THEY make on their scheme?
Once again the true believers get stripped of their wealth. Sure sign AWG was a cult.
Ken Harvey
NZ says that a tonne is worth NZ $25, or US$17.85
So you could make $17.80 profit per tonne.
Please do this everybody!
CCX just deals in “feel good” carbon offsets anyway, with the hope that they’ll be worth something towards real offsets when there is an official US carbon market. Thus they were a speculative gamble from the start by design. Lottery tickets would have been better investments.
The “vintage” part comes from these offsets expiring over time. Use it or lose it, and no hoarding. Who wants to buy an asset that is scheduled to lose all its value at a certain date, with the only way to make money from it is to sell it to someone else for a profit while CCX is still selling lots of brand new ones?
As I understand it, for your purchase the CCX will see to it a suitable project will be offsetting the carbon that will be released. Where on this planet will you find a carbon sequestering project that can be done for 5 cents a ton? That wouldn’t cover the administrative cost of glancing at a single email. Good thing this isn’t a real carbon offsetting scheme, since it seems highly likely at those prices they have run up enough “carbon offset debt” to force a real bankruptcy after a real audit by real financial regulators.
If the sex poodle was intelligent, he was saved by his shorts. (pun intended)
This is the result when you try to force a market based on a manufactured political fraud. It ain’t gonna work.