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Chicago Climate Exchange drops 50%, new record low

Posted By admin On September 1, 2010 @ 4:11 am In Featured Stories,Sci Tech | Comments Disabled

Watts Up With That [1]
Wednesday, September 1, 2010

RELATED: The Great Collapse of the Chicago Climate Exchange [2]

The only lower price than today’s closing price on a ton of carbon is ZERO

[3] [4]

Perhaps reacting to the news yesterday about the IPCC getting taken to the woodshed [5], the growing number of stories in the MSM [6] about the IPCC failure, and the recent layoffs at CCX [7], carbon trading has once again been devalued by the market. Amazingly, it lost 50% of it’s value for 2006, 2007, and 2008 “carbon instruments” today. Here’s the CCX front page [8] graph at closing today:


The CCX end of day table [10] really says it all, 50% off, from a dime to a nickel in a day:

[11]CCX end of day, August 31, 2010

It must have really killed the person to have to put in a nickel for the closing value today.

Charcoal briquettes [12] and coal [13] have more value than a ton of CCX carbon instruments these days.

Unless CCX starts making adjustments in single cents, the next downward adjustment is zero. The latest CCX advisory [14] says they will be closed for labor day, and will reopen for trading September 7th. One wonders.

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URL to article: http://www.prisonplanet.com/chicago-climate-exchange-drops-50-new-record-low.html

URLs in this post:

[1] Watts Up With That: http://wattsupwiththat.com/2010/08/31/chicago-climate-exchange-devalues-50-new-record-low/#more-24241

[2] The Great Collapse of the Chicago Climate Exchange : http://www.prisonplanet.com../the-great-collapse-of-the-chicago-climate-exchange.html

[3] Image: http://wattsupwiththat.files.wordpress.com/2010/08/ccx_logo.png

[4] Image: http://wattsupwiththat.files.wordpress.com/2010/08/2010-nickel.jpg

[5] IPCC getting taken to the woodshed: http://wattsupwiththat.com/2010/08/30/iac-slams-ipcc-process-suggests-removal-of-top-officials/

[6] stories in the MSM: http://content.usatoday.com/communities/ondeadline/post/2010/08/review-urges-reforms-for-un-climate-panel-tainted-by-scandal/1

[7] recent layoffs at CCX: http://wattsupwiththat.com/2010/08/13/chicago-climate-exchange-still-flatlining-employee-cuts/

[8] CCX front page: http://www.chicagoclimatex.com/

[9] Image: http://wattsupwiththat.files.wordpress.com/2010/08/ccx_083110.png

[10] CCX end of day table: http://www.chicagoclimatex.com/market/data/daily.jsf

[11] Image: http://wattsupwiththat.files.wordpress.com/2010/08/ccx_table_083110.png

[12] Charcoal briquettes: http://www.tradekey.com/kb-charcoal-briquette/

[13] coal: http://www.eia.doe.gov/coal/page/coalnews/coalmar.html

[14] latest CCX advisory: http://www.chicagoclimatex.com/info/advisories/2010/2010-11.pdf

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