Not very nice birthday tidings on Kyoto’s seventh anniversary.
Der Spiegel reports:
…for the last half year, prices for CO2 certificates have dropped almost continuously, decreasing by about half, to around €8 ($10.60) per metric ton. Not even the closure of eight German nuclear power plants in 2011, and the resulting increase in demand for coal power, has done much to lastingly reverse the trend.
Michael Kröhnert, an emissions trader in Berlin, refers to the plunging prices as a slaughter. And he fully expects it to continue. “The spiral is spinning downward,” he says…