EU carbon price crashes to record low

A market manipulation effort failed.

“The European Union’s flagship climate policy, its emissions trading scheme (ETS), saw the price of carbon crash to a record low on Thursday after a vote in Brussels against a proposal to support the struggling market… Thursday’s freefall in the ETS was prompted by the energy and industry committee of the European parliament opposing a proposal to delay the release of 900m future permits, so-called “backloading”. This would limit supply in the capped market and therefore support the carbon price. “

Read more at The Guardian.

About these ads

3 responses to “EU carbon price crashes to record low

  1. The whole carbon-trading concept is absurd. FInancially and economically, it’s beyond a joke. Which explains why “progressives” are so fond of it, I guess.
    If the trading price of carbon credits hits zero, it will be about right.

  2. This is a hockey stick that I can totally support. Hehe.

  3. Hopefully al gorzerra is still invested in the carbon credits.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s