It was essentially dead when we announced on WUWT Chicago Climate Exchange(CCX) was halting carbon futures trading last year. Note the flatlined final price of 5 cents per ton:
My only question now is “what took them so long”?
From the Wall Street Journal:
ICE to Close Chicago Climate Futures Exchange
CHICAGO—IntercontinentalExchange Inc. told traders Friday that it would shut down its U.S. emissions derivatives platform, a year after acquiring its parent only to suffer sparse trading as the prospects of a federal carbon-reduction plan remain dim.
The money-losing Chicago Climate Futures Exchange venture will continue operating through the first quarter of 2012 before closing, exchange officials said in a notice. ICE will then list over-the-counter emissions contracts mirroring products listed on the platform.
“The U.S. has not enacted carbon cap-and-trade legislation and changes to the EPA acid rain program have reduced trading activity,” ICE said in the notice. “Accordingly, Chicago Climate Futures Exchange volumes are down substantially and the exchange is operating at a loss.”
Makes you wonder what the bloviator in chief at the California Air Resources Board (CARB), Mary Nichols is going to do with their much ballyhooed (but delayed) idea of carbon trading in California?