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Market Confidence Low: Carbon Credits now worth 25 cents, were at $7 in 2008

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Watts Up With That?
Thursday, Sept 10th, 2009

From Tom Nelson: Plunging prices at the Chicago Climate Exchange

ChicagoClimateEXCapture click for larger image 

ABOVE: CCX CFI End of Day Summary: Offsets now selling for 25 cents each

Back on September 2nd, 2006/2007 instruments were selling as low as 20 cents and held that way until Sept 8th. So this is a boost. See the table below. Zimbabwe money notes are doing pretty well on Ebay. Right now they are actually more valuable than carbon credit notes. 

click for larger image click for larger image 

[2008: Offsets were selling for over $7 each]


[Spin from Sept 9, 2009]: “Carbon market evolving”

“The U.S. appetite for carbon trading is strong CCX is now trading 3,000 to 5,000 contracts per day, with 20 percent of the largest carbon dioxide-emitting utilities in the U.S. participating; 11 percent of the Fortune 500 companies; and 17 percent of the Dow Jones Industrials companies.”

A recent Congressional Budget Office study projected that carbon offsets could be a $60 billion market in 2012, on a par with U.S. corn and wheat markets, and “as it grows beyond that, it will make forestry mitigation opportunities more important,” says Jeffrey O’Hara, senior economist, Chicago Climate Exchange (CCX).

This article was posted: Thursday, September 10, 2009 at 3:30 am

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