"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, November 16, 2006

EU Carbon Trading a massive failure......Sssscccchhhh!!!

Here is a graph of the EU ETS price i.e the traded price of 1 ton of carbon in Euros - for the last month.

Looks like the market is a huge success having reached the lowest price levels ever. Or as Point Carbon said today (principal booster of this Alice in Wonderland casino) said ..."First-phase CO2 allowances in the EU emissions trading scheme took a dive today as the December 2006 contract lost €0.30 on yesterday to close at €8.60 at 17.30 CET."(Close of biz Friday 17th Nov down 10 cents to €8.60)

Meanwhile the Kyoto bandwagon rolled merrily along in Nairobi with the gravy train riders persisting in the illusion that carbon trading is going to prove effective - so far it's success is to take money from the credulous and place it in the capacious pockets of share boosters, consultants, lawyers and oher snake oil merchants.

at 11/16/2006 09:18:00 pm

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