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Carbon Credit Market Imploding: CCX now 10 cents a tonne
Watts Up With That?
Friday, Oct 2nd, 2009
We knew this was coming. Carbon Financial Instruments are now trading for 10 cents per metric tonne on the Chicago Climate Exchange. I wonder if the investors are reacting to the Hockey Stick Implosion news? As reported on WUWT, less than one month ago it was 25 cents a tonne, and a year ago it was over 1 dollar. The all time high was May 2008 at over 7 dollars a tonne. Today: poof.
Source: http://www.chicagoclimatex.com/market/data/daily.jsf Looks like there was a big sell-off today. Carbon Investor confidence must be “unprecedented”.
The chart is only a sliver from rock bottom:
Anyone who was a founding member at 1 dollar has now lost 90% of their investment.
Tough noogies for them.
In other news, Zimbabwe dollars are still selling for higher value than CCX CFI’s on Ebay.
I wonder if this fellow might have to drop his price for the domain name? Maybe he’d take a barter deal for some CCX instruments?
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